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Non Bank Lenders That Will Help You Win
Business funding sources in Canada can come from both traditional lenders, aka ' the bank ' as well as non bank lenders who often are more equipped and prepared to handle shorter term needs in a more timely manner.
Most business owners or their financial managers know that traditional banking organizations in Canada are often unable to meet your business loan and cash flow needs when you are going through a period of financial challenges. So in a time when you are in perhaps a growth mode, or are experience working capital shortages the traditional bank or business credit union will be unable to meet your needs.
The harsh reality ? Simply that banks focus on cash flow and collateral that is more consistent historically and in the present. So high growth and larger build ups in inventory and receivables often creates uncertainty in the minds of Canadian bank lenders.
Even more pronounced is their lack of desire to fund a company when it is restructuring or experience temporary negative cash flow. And don't even talk about taking on very large new orders or contracts in this period of time! Unfortunately sometimes a bank will focus on reducing your access to funding, let alone increasing it ,
Is there a solution then? Thankfully there is , in that alternative finance companies specialize in various forms of asset and cash flow financing that will provide a bridge to more normalized financing structures. In some cases it's a ' bridge loan ' to get your company to it's next stage of growth and profitability or resumption of profit generation. These type of solutions allow you to remove the ' turbulence' that engulfs mgmt in times of cash flow challenges.
How to End Cash Flow Needs
So what do we need to consider when it comes to borrowing for business - It's often simply a case of identifying the best source of capital and not over emphasizing the cost of funding, which in almost all cases is higher in alternative finance. Simply ensure that you are not taking on too much debt on the balance sheet - and in many cases alternative finance sources monetize assets and don't generate debt.
Business owners must realize that the reward of taking on more business and generating more profits and funding daily operations will many times outweigh an additional or temporary cost of capital.
Finally, understand that in the majority of situations non bank lenders who specialize in small business funding fully realize these solutions are temporary in nature - So again we're talking about that bridge. At 7 Park Avenue Financial we focus on a plan that will allow an exit to more traditional financing solutions.
So why alternative finance solutions? Simply these firms look at assets and your current cash flow needs - solutions are tailored to your current situation. Start up loans are also available via alternate funding sources.
Bottom line? Focus on your current cash needs and repayment, not rates. Analyze the merits of taking on new business or larger contracts.
Seek out a trusted and experienced Canadian business financing advisor with a track record of success to assist with your company's financing needs.
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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