WELCOME !

Thanks for dropping in for some hopefully great business info and on occasion some hopefully not too sarcastic comments on the state of Business Financing in Canada and what we are doing about it !

In 2004 I founded 7 PARK AVENUE FINANCIAL. At that time I had spent all my working life, at that time - Over 30 years in Commercial credit and lending and Canadian business financing. I believe the commercial lending landscape has drastically changed in Canada. I believe a void exists for business owners and finance managers for companies, large and small who want service, creativity, and alternatives.

Every day we strive to consistently deliver business financing that you feel meets the needs of your business. If you believe as we do that financing solutions and alternatives exist for your firm we want to talk to you. Our purpose is simple: we want to deliver the best business finance solutions for your company.



Showing posts with label business lenders. Show all posts
Showing posts with label business lenders. Show all posts

Monday, July 10, 2023

Business Lenders In Canada : The Hunt Is On For Your Working Capital Financing & Loan Solutions




YOUR COMPANY IS LOOKING FOR CANADIAN WORKING CAPITAL FINANCING SOLUTIONS! 

BUSINESS LENDERS ( CANADA )

Unleashing Business  Potential: Overcoming Financing Hurdles for SMEs in Canada

You've arrived at the right address! Welcome to 7 Park Avenue Financial 

        Financing & Cash flow are the biggest issues facing businesses today 

                              ARE YOU UNAWARE OR DISSATISFIED WITH YOUR CURRENT  BUSINESS FINANCING OPTIONS?

Contact us!

CALL NOW - DIRECT LINE - 416 319 5769 - Let's talk or arrange a meeting to discuss your needs

EMAIL - sprokop@7parkavenuefinancial.com

 

 

YOUR GUIDE TO BUSINESS LOANS IN CANADA

 

Working capital financing and the right business loan/loans for their company have many Canadian business owners looking to either leave or search for new business lenders that meet their financial needs.  The hunt is on for small business lending. Let's dig in.

 

 

 

INTRODUCTION 

 

Capital access is key to growth and success in our rapidly competitive business world. Business owners and entrepreneurs frequently encounter the hurdle of securing the necessary funding to elevate their ventures.

 

Business lenders, experts in creating lending solutions, play a crucial role in this process. These entities can provide financial assistance for expansion, equipment purchase, or staffing. However, selecting a lender who comprehends your unique aims and challenges is crucial.

 

 

For Canadian businesses to flourish and reach growth goals, business lending access is essential. Still, small and medium-sized enterprises (SMEs) often face obstacles in securing traditional capital.

 

Fortunately, alternative finance options serve as a beacon for those struggling with bank financing. This article examines business lending's significance, SMEs' challenges in securing capital, and the abundance of alternative finance choices available.

 

 

 

WHAT IS THE ROLE OF BUSINESS LENDERS IN PROVIDING GROWTH CAPITAL  

 

Business lenders are key in driving your business growth, recognizing that capital is essential for entrepreneurs to expand, innovate, and hire. They supply the necessary funds enabling businesses to seize growth prospects and achieve objectives. Besides, lenders often possess sector-specific knowledge, offering valuable advice to help firms tackle difficulties and make wise choices.

 

Lenders offer various financing options, such as term loans, lines of credit, and equipment financing, tailored to businesses' unique needs.

 

These avenues allow firms to acquire funds for various conditions, including expansion, inventory management, working capital, or tech investment. Furthermore, recognizing the unique situations of businesses, lenders may provide flexible repayment options, offering solutions that align with your cash flow and ensuring loans serve as growth catalysts rather than burdens.

 

Collaborating with a business lender also offers non-monetary benefits. Unlike traditional banks, these lenders usually have a profound understanding of entrepreneurs and small business owners' challenges.

 

They are more inclined to take calculated risks and back businesses with potential, nurturing a trust-based, mutually beneficial relationship. Acting as valuable advisors, lenders can provide financial management, cash flow optimization, and growth strategy insights. This expertise helps businesses make more informed decisions, maximizing their success probability.

 

 

 

 

THE SME CHALLENGE IN CANADA  

 

Difficulties Faced by SMEs in Securing Traditional Capital: Regrettably, SMEs face multiple hurdles when attempting to obtain traditional bank financing.

 

Strict qualifying requirements often demand that businesses possess significant collateral and a solid credit history, which can be tough for emerging or small companies.

 

Besides, the bank approval process can be protracted and full of red tape, impeding firms from capitalizing on time-sensitive opportunities. Traditional lenders are also risk-averse, favouring loans to bigger, more established companies. These difficulties present a formidable obstacle for SMEs, limiting their access to necessary funds for growth and expansion.

 

 

 

FINANCING A BUSINESS IN CANADA 

 

A  report in Canada's Globe & Mail indicated massive dissatisfaction with financial institutions regarding lending for small businesses  - referencing a 40% amount as the number of borrowing companies that are ' likely '  to leave their current business lender. Of great interest is that the main perspective of business owners/financial managers is that their bank or credit union does not understand their business when it comes to a small business loan, indicating a lack of confidence in the expertise of their lender.

 

The other harsh reality is that firms looking for SME COMMERCIAL FINANCE and loans don't have the option that major corporations do - that's for both short-term operating needs and long-term growth financing. Of course, those 'big boys' can tap into public and private equity as an example.

 

CHOOSE THE RIGHT FINANCING & FUNDING FOR YOUR BUSINESS

 

What are realistic options for small and medium-sized businesses in Canada for generating working capital and cash flow?  The lack of proper business financing prevents your firm from accepting larger orders or new contracts. That also entails waiting for 30, 60 or sometimes even 90 days for A/R to be collected.

 

 

The right working capital financing in place assists your firm in meeting its daily requirements and allows you to grow the business. It also allows your firm to extend credit on favourable terms to your customers.

 

Solution? There are several solutions to consider. If all firms had the same size and problems, we might have some easier decisions. However, when we meet with clients to outline working capital solutions, each company is in a different industry. They have other business models, and their funding needs vary by size and nature.

 

 

TYPES OF BUSINESS LENDERS 

 

 

Business lenders come in various forms, each with unique characteristics and advantages.

 

  1. Traditional Banks: Offer various lending products like term loans, lines of credit, and commercial mortgages. They usually have rigid lending criteria, potentially requiring collateral or personal guarantees. Though they might provide competitive interest rates, their application process can be time-consuming and complex.

  2. Online Lenders: These lenders are a popular alternative to traditional banks, using technology to simplify the lending process and grant quick capital access. They often have more flexible lending criteria and may fund businesses with less established credit histories. However, their interest rates might be higher than traditional banks.

  3. Alternative Lenders: These include a broad spectrum of non-bank financial institutions, such as private equity firms, venture capital firms, and asset-based lenders. Specializing in specific industries or sectors, they can offer customized financing solutions that cater to businesses' unique needs.

 
 

 
 

 

 

CANADIAN BUSINESS FINANCING SOLUTIONS / FINANCING COMPANIES IN CANADA

 

Let's recap some of the solutions available in Canadian business lending:

 

 

A/R financing/factoring / Confidential Receivable Finance / ABL Non-bank line of credit

 

Inventory loans

 

Bridge Loans

 

Sale Leasebacks

 

Non-bank asset-based lines of credit (these facilities combine your A/R, inventory and equipment assets into one borrowing facility that is margined much higher than bank facilities).  These facilities are often the best solution to overall operating financing needs - This type of borrowing does not put debt on your balance sheet - it monetizes / cash flows your assets!

 

Tax Credit Loans (SR&ED, etc.)

 

Royalty Financing

 

Equipment Financing / Leasing

 

 P O / Contract financing

 

Short-term working capital loan / Merchant Cash advances ( Good  credit scores for business owner's personal credit score are required  ) - parts of these programs allow you to apply online ( a typical loan term is one year )

 

Business credit cards - supplementing business lines of credit

 

 

While some firms in the SME sector will always consider angel investors, going public options, etc., these solutions are often not practical or realistic for the business owner.

 

 

SMALL BUSINESS BANK LOAN QUALIFICATIONS 

 

Canadian chartered banks offer several programs, but you should ensure you meet bank requirements. Some of those requirements are that you have been established and the business owners have a good reputation and reasonably solid credit history.

 

THE CANADA BUSINESS LOAN PROGRAM ( SBL LOANS CANADA )

 

The Government of Canada offers a Small Business Loan program which is one of the best programs in Canada for Canadian businesses. An attractive interest rate comes with the program and flexible repayment terms around monthly payments. Previously this program only covered::

 

Equipment

Leaseholds

Real estate

 

Important - In 2022, the program was significantly upgraded to include a higher loan amount available and provide access to working capital and a business line of credit.

 

To ensure these programs meet your exact needs, let the 7 Park Avenue Financial team help you with your loan applications, as many feel that when you apply for a loan from the government, there is some paperwork involved.

One other government entity on the federal side offers working capital term loans; these are cash term loans and are generally unsecured, with only the promise to pay your company and yourself as owner. Rates are excellent for what you are getting.

 

 

WHAT ARE THE BENEFITS OF WORKING WITH THE RIGHT BUSINESS LENDERS 

Working with business lenders offers several benefits for entrepreneurs and business owners. Let's explore some of the key advantages:

 

  1. Capital Access: Business lenders supply crucial capital to boost growth, catering to needs like expansion, inventory management, or tech investment. They comprehend businesses' unique funding requirements and propose bespoke financing solutions accordingly.

  2. Flexible Financing: Business lenders typically offer more flexible lending criteria and repayment terms than traditional banks. They provide customized solutions in line with your business's cash flow and growth path, ensuring loans facilitate success rather than hinder it.

  3. Industry-specific Guidance: Lenders have sector-specific expertise, offering valuable advice on financial management, cash flow optimization, and growth strategies. They understand entrepreneurs' challenges and can provide insights for more informed decision-making.

  4. Partnership Approach: Lenders are more open to calculated risks and backing potential-rich businesses. They partner in your success, dedicated to helping you reach your objectives. This approach fosters a trust-based relationship promoting long-term success.

  5. Efficiency and Affordability: Compared to traditional banks, business lenders often have more streamlined application procedures and faster decision-making, saving time and enabling you to capitalize on growth opportunities promptly. Furthermore, these lenders can offer competitive rates and fees, making their services cost-effective.

  6. Networking Opportunities: Lenders often possess extensive networks, potentially connecting you with resources such as industry experts, potential clients, or strategic partners. These connections can unlock new opportunities and further propel your growth.

 

 

 
CONCLUSION  

 

Business lending access is vital for Canadian SMEs to thrive and grow. Nonetheless, obstacles in securing traditional capital have triggered the emergence of alternative finance options.

 

These provide a crucial support system for businesses unable to secure bank financing. Peer-to-peer lending and government-supported loans offer accessible, versatile, customized funding for diverse business needs. By adopting these alternative financing strategies, SMEs can unleash their growth capabilities, stimulate economic growth, and flourish in the ever-evolving business environment.

 

If you're  'on the hunt' for business lenders that make sense for your operating and capital needs, speak to  7 Park Avenue Financial,  a trusted, credible and experienced Canadian business financing advisor who can assist you with your small business loan options and other financing needs.

 

FAQ: FREQUENTLY ASKED QUESTIONS

 

What is Invoice Factoring?

Companies that need quick cash will benefit from invoice factoring. The company offers a percentage of the invoices to be paid now in exchange for funds upfront, and then they receive payments when their clients pay them back. One example is staffing companies that already have an employee's wages but are waiting until later during the month or year before getting paid by their client, so they can't survive without access to capital. Invoice Factoring allows companies to avoid negative working capital positions and stay financially afloat to meet business needs and debt payments.

 

How do you prepare for a business loan application?

 

You should be able to produce financial statements and demonstrate that your receivables and inventory are turning. It's great to have a forecast or a business plan, which also assists you as a good planning tool.

 

Smaller firms should try and avoid credit cards, merchant advances, or friend and family loans when business lines of credit from banks are not accessible  - they all work and are readily accessible but often are not the best alternative for financing costs and interest rates.

 

Preparing for a business loan application is crucial to increase your chances of approval and secure favourable terms. Here are some steps to help you get ready:

 

  1. Assess Financials: Examine financial statements like balance sheets, income statements, and cash flow statements. Understand your income sources, costs, and financial ratios to comprehensively view your business's financial standing and identify the loan amount needed.

  2. Verify Credit Score: Your personal and business credit scores significantly influence the loan application. Request your credit reports for accuracy, and work on improving your credit score by settling outstanding debts or resolving disputes, if required.

  3. Formulate Business Plan: A well-drafted business plan showcasing your industry knowledge, market, and competition is vital. Include growth strategies, target market, and financial forecasts. Highlight how the loan will boost growth and your repayment strategy.

  4. Organize Supporting Documents: Lenders require various documents like tax returns, bank statements, financial statements, legal documents (such as articles of incorporation), and business licenses to evaluate your eligibility. Ensure these documents are organized and easily accessible and meet loan details required by business lenders.

  5. Foster Relationships: Cultivate relationships with potential lenders before applying. Engage in networking events, join industry groups, and interact with lenders on social media. Building a good rapport and understanding their lending criteria could enhance your chances of loan approval.

  6. Evaluate Collateral: Collateral might be required depending on the lender and loan amount. Assess your assets and decide what you can offer as collateral. This could include real estate, equipment, inventory, or accounts receivable. Understand the associated risks and ensure you can meet the repayment obligations.

 

What is revenue-based financing?

 Revenue-based financing is a financing method that involves businesses obtaining capital in return for a share of their upcoming revenue. The repayment aligns with the business's performance, offering flexibility for companies with variable cash flows. Typically, startups or enterprises with consistent revenue models utilize this financing type.

Monday, April 13, 2020

What Is Alternative Financing For Business In Canada ?












Alternative Financing Options From Non Bank Business Lenders In Canada








Alternative financing isn't something that most business owners and their financial mgrs equate with ' shopping ' , but the reality in today's environment is that it's a requirement for your company to know what traditional, and non traditional business financing solutions are available to your company . More and more companies everyday are looking at ' non bank ' solutions from credible lenders who can assist their business with cash flow, debt and working capital financing .

In some cases it's somewhat of a ' forced ' situation as some companies find themselves in what the banks term as ' special loan ' situations due to any number of events that have triggered a default in bank covenants, loan payments, etc. There is one immediate bottom line :

Turnaround Financing Is Required !


We'll take a look at different aspects of alternative finance solutions in Canada, as well as a re-focus on key issues within that damaged bank relationship that sometimes happens in the world of banks and traditional financing.


It's no real secret that interest rates for commercial business financing are at all time lows . Even bank fees associated with business lines of credits are not all that unreasonable. Nevertheless damaged relationships with your bank can exist, in certain scenarios that might even be about ' personalities ‘, i.e. the human side of business.

Clients sometimes feel that Canadian banks or their own banker specifically does not ' understand ' their business. In fairness to Canadian bankers they are sometimes just challenging a client and should often be viewed as a ' sounding board ‘for challenges your business might face

The limited amount of choice that owners/financial mgrs have when it comes to banks in Canada is of course a limited number of banks in a highly regulated environment . That's a good thing for banks and the health of Canada as a whole, but not so good when it comes to your business or your industry being able to achieve it's financial and sales goals with the right amount of financing.

That is of course unlike the U.S. which has different tiers of commercial and business banking, with hundreds if not thousands of individual bank lenders.

In certain cases your industry might be ' out of favor ' and traditional lenders are looking for ways to end relationships in certain economic sectors. With all due fairness to there being two sides of the story, we at 7 Park Avenue Financial can commiserate with the Canadian firms who suddenly find their total future and destiny in the hands of a third party.


As a short aside, probably the best advice we can give a client is to choose a banker that is relationship oriented and had internal credibility within her or his bank. Our belief - all banks are the same; all bankers are not the same.

What Then Are The Alternatives For Canadian Business Finance Solutions From Alternative Finance Lenders ?


Using our ' shopping analogy ' there's some solid choices when it comes to business funding .

Alternative Financing For SME'S In Canada:


Solutions include:

Asset Based Finance Firms

Equipment Lessors - Sale Leaseback Specialists

Accounts Receivable Financing

Inventory Financing

Purchase Order Financing / Alternative Sales Financing For Procurement

Royalty Financing

Tax Credit Loans ( Primarily SR&ED )



Key Point: Any of these alternative finance solutions can be combined in a variety of manners to allow for full scale financing of your sales revenues.

Speak to a trusted, credible and experienced Canadian business financing advisor with a track record of business financing success, who can assist you with achieve refinancing needs.



7 Park Avenue Financial :

South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8

Direct Line = 416 319 5769


Email = sprokop@7parkavenuefinancial.com

http://www.7parkavenuefinancial.com


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 .


' Canadian Business Financing With The Intelligent Use Of Experience '


ABOUT THE AUTHOR
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.




Tuesday, June 27, 2017

Why Does My Lender Need a Business Plan?












Many business owners or budding entrepreneurs are taken aback when their lender asks ( or insists ) on a business plan. Why do lenders need this document?

Lenders view the plan as having forced the business owner or entrepreneur to look carefully in a critical way into their business project. They feel that if the company needs to grow or be successful such a document will guide the business person to their goals. Ultimately the plan is a concise document which in effect communicates the business persons ideas to the lender.

In theory the business plan should identify areas of weakness or strength. If truth were to be known of course business plans tend to accentuate the positive. The writer of this article has a favorite saying - ' I never met a pro formal financial I didn't like '!

More about that last comment later, but suffice to say that in theory a good document geared towards financing should balance both the positive and negative aspects of the business and its financials. A solid business plan geared towards a lender will show you have ways of solving some of the business challenges raised in the business model and it's proposed financing.

We all know that stat's - half of new businesses fail within the first two years, 90 % within the next ten years. Why is that the case. Business guru's tell us its lack of planning. That is precisely why a business plan geared towards lending and the financials should be used as a critical follow up in the business. It should not be stored away! As we all have learned, ' tuition is extremely high in the school of experience '!

Most importantly though people that don't know you, or might not know your business model use a properly created plan to evaluate your business and lend you funds. The ' business plan ' in effect is really a financing proposal. That's how we look at it in our firm.

Let us remember how a lender, who you in many cases don't know, thinks. First of all he or she is hoping the information you have provided is true. Remember also that the lender works for someone, and they must communicate your idea to an underwriter of investment committee. If you haven't met the lender, trust me you definitely have not met the underwriter or investment committee.

Some of us also might think that we are the only business plan the lender is reviewing. That is not the case, our plan might be among 10-20 others in an given lending environment. And finally, people have biases - they will benchmark your own projections against their past experiences. If your business plan and financials make them think of Microsoft and Rim they will dig into the plan, if visions of Nortel come to mind that won't be the case!

Therefore business owners should put forth their plan on the basis that it will be ' attacked' by the lender, so the business owner must counter with ' real ' upside potential. The lender must genuinely feel some sort of enthusiasm about the business.

The biggest secret of business plans, and yes, we are revealing it here, is that they generally are not read in totality by the lender. The real world dictates they are given a 5 minute read, and more careful emphasis is generally only placed on the financials. The owner should never think that either quantity or finesse in fonts and graphs will gain the funding they require.

In summary, we do not infer that a plan is in fact not required for a lender or financing, in fact a business owner or entrepreneur with no plan is, outside of luck, guaranteed to fail.

Stan Prokop is the owner of 7 PARK AVENUE FINANCIAL, ( http://www.7parkavenuefinancial.com ) a Canadian firm which originates business financing and business bank and operating credit financing for Canadian firms. The firm works with it's clients who require business plans for financing purposes.


http://www.7parkavenuefinancial.com/business_plans.html




7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8

Direct Line
= 416 319 5769

Office = 905 829 2653



Email
= sprokop@7parkavenuefinancial.com

' Canadian Business Financing With The Intelligent Use Of Experience '


ABOUT THE AUTHOR

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.


























Article Source: http://EzineArticles.com/expert/Stan_Prokop/432698


Article Source: http://EzineArticles.com/3464862

Tuesday, September 20, 2016

Business Lenders In Canada : The Hunt Is On For Your Working Capital Financing & Loan Solutions











Engineering Your Company For Proper Business Financing Via Traditional & Alternative Lenders - The Hunt Is On!













OVERVIEW – Information on working capital financing solutions in Canada . Approaching alternative or traditional business lenders for a loan requires this ‘ need to know ‘ info






Working capital financing and the right business loan / loans for their company has many Canadian business owners looking to either leave or search for new business lenders that meet their financial needs. The hunt is on. Let's dig in

A Sept 20 /2016 report in Canada's Globe & Mail indicated massive dissatisfaction with financial institutions - referencing a 40% amt as the number of borrowing businesses that are ' likely ' to leave their current business lender. Of great interest is that the main perspective of business owners/financial mgrs is that their bank or credit union does not understand their business - as well as indicating a lack of confidence in the expertise of their lender.

The other harsh reality is that firms looking for SME COMMERCIAL FINANCE and loans don't have the option that major corporations do - that's for both short term operating needs and long term growth financing. Those ' big boys' of course can tap into public and private equity as an example.


What then are realistic options for the small and medium sized business in Canada for generating working capital and cash flow? It's the lack of proper business financing in place that holds your firm back from accepting larger orders or new contracts. That also of course entails having to wait 30/60 or sometimes even 90 days for A/R to be collected.

The right working capital financing in place assists your firm to meet its daily requirements and allows you to grow the business. It also allows your firm to extend credit on favorable terms to your customers.

Solution? There are a number of solutions to consider. If all firms were the same size and had the same problems we might have some easier decisions. The fact is though that when we meet with clients to outline working capital solutions each company is in a different industry, they have different business model, and their funding needs vary by size and nature.


Let's recap some of the solutions available:


A/R financing / factoring/Confidential Receivable Finance

Inventory loans

Bridge Loans

Sale Leasebacks

Non bank asset based lines of credit ( these facilities combine your a/r, inventory and equipment assets into on borrowing facility that is margined much higher than bank facilities ) These facilities are often the best solution to overall operating financing needs - This type of borrowing does not put debt on your balance sheet - it monetizes /cash flows your assets!

Tax Credit Loans ( SR&ED,etc)

Royalty Financing

Equipment Financing / Leasing

P O / Contract financing


While some firms in the SME sector will always consider angel investors, going public options etc these solutions are in practicality very limited



Canadian chartered banks offer a number of programs, but you should ensure you feel you can meet bank requirements. Some of those requirements are that you have been established and the owners of the business have a good reputation and reasonably solid credit history.


You should be able to produce financial statements and demonstrate that your receivables and inventory are turning. It's great to produce a forecast or a business plan, which also assists you as a good planning tool.



Smaller firms should try and avoid credit cards, merchant advances, or friend and family loans - they all work but often are not the best alternative.


The government of Canada offers a Small Business Loan program that is one of the best programs in Canada for Canadian business. The one technical point on this program is that it covers only equipment and leaseholds and real estate, so you should ensure these programs meets your exact needs.


One other government entity on the federal side offers working capital term loans; these are cash term loans and are generally unsecured, with only the promise to pay of your company and yourself as owner. Rates are excellent for what you are getting.


If you're ' on the hunt ' for business lenders that make sense for your operating and capital needs seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your loan 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

South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8

Direct Line
= 416 319 5769

Office = 905 829 2653


Email = sprokop@7parkavenuefinancial.com

' Canadian Business Financing with the intelligent use of experience '


ABOUT THE AUTHOR
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 45 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.