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Business Financing : Romancing The Loan In Canada
OVERVIEW – Information on business financing loans in Canada. The cash flow asset finance solution you’re looking for is just around the corner .. if …
Business financing loans in Canada depend on your ability to successfully negotiate the loans or cash flow solutions you need to run and grow your business. How would you rate you ability to ' romance the loan’? We don't think we need to point out that the right finance strategy for your firm will often help make your firm more competitive. Let's dig in.
Acquiring assets is a key part of financing your firm. Those assets come in several typical categories - equipment, technology, software, trucks, etc. 80% of U.S. and Canadian businesses at some time or another focus on equipment leasing as the solution. In some cases even existing assets you own might be additional collateral to get approval for new assets.
If your company is in a capital intensive business your cash flow resources are often strained trying to get up to speed on acquiring equipment. In many cases it's those assets that will help power higher sales growth in your company.
While Canadian banks may well consider term loans for asset finance requirements that typically comes with covenants and ratios that may impact future borrowing. Working with the right lease finance company will almost always allow you to match your cash outflows with the actual timing benefits you'll receive from the asset.
Another method of financing equipment is the Canadian Govt Small business loan. Because it's backed by the government the terms and flexibility are viewed by thousands of users of the program as the ultimate in flexibility.
When we meet with clients the typical question we hear is a pretty simple one: Who exactly offers the Govt Small Business Loan? Answer - the govt has empowered the banks to run and administer and finance the program under the auspices of their guarantee. HINT - Find a banker or Canadian business financing advisor who understands the program.
We caution firms not to use their business lines of credit when financing new assets. Credit lines should be used to run your business on a daily basis, not in the financing of long term assets.
If you're focused on the right ways to ' romance the loan ' seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you with your asset finance & cash flow needs.
Stan Prokop - founder of 7 Park Avenue Financial –
http://www.7parkavenuefinancial.com
CONTACT:
7 Park Avenue Financial
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
Office = 905 829 2653
Email = sprokop@7parkavenuefinancial.com
Stan has had a successful career with some of the world’s largest and most successful corporations.
Prior to founding 7 Park Avenue Financial in 2004 his employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) He is an expert in Canadian Business Financing.
Stan has over 40 years of business and finance executive experience. He has been recognized as a credit/financial executive for three of the largest technology companies in the world; Hewlett-Packard, Digital Equipment and Cable & Wireless. Stan has had in depth, hands on experience in assessing and evaluating thousands of companies that are seeking financing and expansion. He has been instrumental in helping many companies progress through every phase of financing, mergers & acquisitions, sales and marketing and human resources. Stan has worked with startups and public corporations and has many times established the financial wherewithal of organizations before approving millions of dollars of financing facilities and instruments on behalf of his employers.
Stan Prokop
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