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Make Government Business Loans Work For You
What is the best small business loan for Canadian business owners in the ' SME COMMERCIAL FINANCE ' sector in Canada. When it comes to lack of funding for start up or earlier stage companies already achieving revenues there is no doubt the government small business loan is a very viable solution .
Lack of funding in the earlier stages of a company's growth will always hurt long term business goals for sales and profits. Financing and execution of your business plans are of course as integral to the success of your company.
While many entrepreneurs focus on ' the bank ' for funding they typically cannot get all ( or even some ) of the business capital they need. Government in Canada recognized that a long time via Industry Canada the Canadian Small Business Financing Loan program. Some have written the program is the ' oxygen' for financing a business with government help.
There are some major key benefits to what we describe as the ' best small business loan ' in Canada. And by the way, small means under a million dollars , which in our books isn't that ' small '!
KEY FACTORS IN THE GOVERNMENT GUARANTEED BUSINESS LOAN
For a starter it is the government guaranteeing the majority of your business loan . That clearly eliminates a lot fo the collateral and reliance on personal financial information required by most ' traditional' lending institutions.
Down payments are always an issue for owners and the initial equity, or ' down payment ' you need to get the loan is modest indeed - typically in the 10-20% range.
Timing is everything in business, and if you're working with a proper Canadian Business Financing Advisor closing time on funding can be very quick in loan funding.
What does the Government small business loan finance ? That's a frequent question from clients here at 7 Park Avenue Financial . The answer:
Equipment
Leaseholds
Software
Real estate
Loans under the program are structured as term loans between 2-5 years from an amortization / length of loan perspective . Prepayment is not penalized !!
Steps To Be Successful With A Government Guaranteed Business Loan
A recent articles in Canada's major newspaper, the Globe & Mail, highlighted great ways to achieve success in government financing . That included ensuring what your business financing needs are, being pro-active in putting together a plan and request, and ensuring owners have reasonable credit history .
Seek out and speak to a trusted, credible and experienced Canadian business financing advisor with a track record of business finance solutions.
7 Park Avenue Financial :
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
Click Here For 7 PARK AVENUE FINANCIAL website !
7 Park Avenue Financial provides value added financing consultation for small and medium sized businesses in the area of cash flow , working capital , and debt financing .
Business financing for Canadian Firms , specializing in working capital, cash flow, asset based financing , Equipment Leasing , franchise finance and Cdn. Tax Credit Finance . Founded 2004 - Completed in excess of 100 Million $ of financing for Canadian corporations .
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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