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You Don’t Need An AI BOT To Solve Your Cash Flow & Business Credit Needs!
OVERVIEW – Information on business credit line needs in Canada. When it comes to working capital & cash flow solutions do asset finance facilities or traditional bank make sense for your firm
Business line of credit needs are often best solved when your firm understands why you need this type of financing / working capital facility. And the good news? You don't even need one of those ' Artificial Intelligence Bots ' to run thousands of algorithms around your cash flow needs. It's all about understanding how your company is doing and what type of solution is available. Let's dig in.
If credit line needs provide one thing it certainly is ' flexibility ' as it relates to your financing ' wiggle room '. You're borrowing what you need and of course you're only incurring charges for amounts you use which hopefully are constantly revolving as you turn over key assets such as receivables and inventory.
Even more flexibility comes around simply knowing your firm should be able to handle the day to day ' surprises ' - aka ‘bulge ' cash flow needs.
Credit lines are of course also not term debt - while they are typically collateralized by your business assets it's at the end of the day somewhat unsecured.
Knowing, and understanding the true financial health of your business will often dictate what type of facility you're eligible for. Key to that of course is how long you've been in business, what type of financing rates your firm can handle, as well as speed and accessibility to financing approval.
Thousands of businesses with SME COMMERCIAL FINANCE needs are taking advantage of short term working capital loans which are often marketed (or disguised?) as business credit lines. They are sought after because they offer quick approvals and approval criteria are far less restrictive than those solutions offered by Canadian chartered banks.
How healthy your company is from a financial perspective will typically dictate what type of credit line your firm can access. The two most typical solutions are the traditional banking solution, or, alternatively, asset based lines of credit offered by non bank commercial lenders.
Knowing how well your business is running in the short term is key to both supplier and credit line provider relationships. While volumes are written on how business financial health is determined the real world dictates it all boils down to:
Profit/loss generation
Operating Cash Flows
Positive/Negative working capital positions
Existing debt
Firms that are financially challenged but who have or can increase good gross margins can typically absorb the higher rates that come with non bank business credit lines, often referred to as ' ABL 's ' - Asset Based Credit Lines.
If you’re looking for solid assistance and the cash flow / working capital solutions available in the Canadian marketplace seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can provide business credit line offerings that meet your needs.
Stan Prokop - founder of 7 Park Avenue Financial –
Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 10 years - Completed in excess of 100 Million $$ of financing for Canadian corporations . Core competancies include receivables financing, asset based lending, working capital, equipment finance, franchise finance and tax credit financing. Info & Contact Details :
http://www.7parkavenuefinancial.com
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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