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Never Worry About What to Do About Best Business Loan Financing Option Again With These Tips
The best business financing options for business owners and financial mgrs aren't always the obvious ones when it comes to achieving capital needs for your company. If there is any good news in today's highly competitive business environment it that funding options are available for everything from start ups, growing businesses, as well as financially challenged firms.
No secret that many industries have unique financing requirements , and even with industries no company might have the same needs - hence our focus on ... options !
So what in fact drives the need for financing ? It typically comes down to longer term goals of your company, the size of your business, and the overall ' risk rating ' that both traditional and alternative lenders use to provide their capital to your company.
Business owners typically gravitate to term loans - it's a common form of loan that at its basics requires you to make monthly payments over a pre-determined period - typically 2-5 years . These days many clients we speak to are looking for short term
, typically covering temporary shortfalls or unique situations. These loans are very popular, readily available, and even more good news, quick to close , often in a matter of a week or two .
Those short term working capital loans compete directly these days with traditional banks, who of course have better rates but harder approval criteria . Often no hard collateral is required , just the ' promise ' of the business and business owner to pay . Typically these loans are for 10-20 per cent of your annual sales volume, as a guideline to keep in mind.
Government guaranteed start up loans are also popular. The government is committed to billions of dollars in these loans every year in Canada. Repayment is long, and covers 3 asset categories you can finance - equipment, leaseholds, and even real estate! The downsize - those great rates and terms and flexibility come with an application process that can be cumbersome if you don't have the expertise of an experienced Canadian business financing advisor.
Businesses run day to day on credit lines , typically secured by receivables and inventory . Asset based lenders provide non bank lines that offer generous borrowing margins.
Other immediate sources of business funding include:
Receivable Financing
Purchase Order funding
Equipment Leasing
Investigate the options that best suit your firms immediate needs . Seek out and speak to a trusted, credible and experienced Canadian business financing advisor with a track record of success.
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 !
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
