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Alternative Financing Options - Work !
Business finance funding sources for many Canadian firms often seems just out of reach for many owners/financial mgrs. Those owners and managers might even feel as if their financial challenges are somewhat impossible especially in times of industry or economic turbulence.
In some cases your business financing prospects may fee somewhat similar to the July 12 Disco Demolition Fiasco? ! (On that day a Chicago DJ organized a ' disco sucks’ protest at Chicago's Comiskey Park. The 5000 invited fans turned into a riot of 70,000 of epic proportion and damage). Unexpected events in business can wreak havoc on any company , large or small, or new !
Most business people feel that bank financing is often critical for the ultimate success of a company. Traditional Canadian chartered bank financing might not always be available though. The good news is that there is access to business finance today in numerous other forms.
These solutions tend to fill the ' growth gap ' that perceived / real credit crunches deliver to the stifling of a firm’s growth.
In some cases it is all about ' the turnaround ' , the ability to turn a business around via strategies that will benefit your company immediately and in the long term.
When you are looking to fix your company's immediate financial position it's all about the ability to both control current cash flow, as well as generate additional cash flows. The ability to control costs, generate sales, and ensure you have the capital to finance those sales is what that immediate turnaround is all about .
While ownership and mgmt might possibly be capable of addressing internal costs and sales and cash flow issues ultimately specialized expertise from a trusted, credible and experienced Canadian business financing advisor will probably generate more success.
When it comes to low cost and low risk our Canadian chartered banks deliver on the many longer-term solutions for business finance needs. Although bank requirements are pretty basic, and common sense, many firms, perhaps yours, are unable to prove or provide stability in cash flow, historical profits, and the collateral and or covenants and personal guarantees required in our Cdn banking system.
Alternative Financing Options
6 sources of business financing you may not have considered are:
Asset based lending / non bank lines of credit - These facilities combine your receivables, inventory, and even equipment and real estate if desired, into one borrowing facility and revolving line of credit
Factoring/ Confidential Receivable Finance
Sale Leaseback On Assets You Own -
Purchase Order Financing
Equipment Financing (Lease finance is often both a traditional and alternative method of acquiring and financing new assets) Almost any new or used equipment asset can be financed these days, even software, to run your business!
Start-up and early stage growth firms should well consider the Canadian govt small business guaranteed loan program, providing a govt guaranteed loan via your bank for 90% of the loan amount, which now is up to $1,000,000.00 as a loan amt cap.
We always point out to clients that various forms of equity finance could be considered; these include bonds, private capital pools, private equity, angel investors, crowdfunding, etc. However these solutions are a road less traveled and take so much time with only the smallest percentage of firms ready or succeeding in these areas. No secret also that these aforementioned ' equity ' type solutions dilute business ownership percentages, often undesirable in early-stage or growing companies.
If you're looking to feel better about business finance alternatives available to your firm seek out and speak to business finance expert with a track record of business finance success who can assist you with identifying the right mix of solution and funding/capital amount your business needs.. to grow!)
7 Park Avenue Financial :
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
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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