Dear Abby : We’re Confused About Sources And Types Of Business Loans - Signed: Anxious In Canada
OVERVIEW – Information on business loans in Canada . What financing sources can business owners and financial managers explore in SME Commercial Finance availability
Dear Anxious In Canada : There's no question that the right financing sources and business loans can deliver on that ' healing power' that the business owner / financial manager needs to propel the company to that 'next level' of sales and profits. In some cases that might even mean a turnaround from less fortunate circumstances. Let's dig in.
Top experts in Canadian business financing constantly stress the ' conservatism' of our banks and major financial companies and institutions. That conservatism is probably justified when it comes to start up and early growth firms and the good news here is that many ' niche' financial solutions are available for those categories of financing.
Even the govt steps in re start ups, franchises, etc and offers the Govt Guaranteed Business Loan, making billions accessible for early stage and smaller firms with revenues less than 5 Million dollars.
What are the key factors that the owner/manager needs to have under his or her hat in order to access a financing source that makes sense? Ask yourselves the following questions, and being honest helps!
Can you properly identify the right stage your business is in re growth potential?
Do you feel 100% comfortable in positioning your company for the right type of financing if in fact you were aware of those business loans and asset monetization facilities that make sense?
If you have a lot of time to waste then a recommended strategy is to approach all financial institutions that offer business finance.
Putting our sarcasm aside it's key to know that banks and commercial finance firms are very focused on specific sizes, offerings, and credit quality. So it should be very clear you should be working with someone that knows which commercial lenders are 100% interested in providing your firm financing you require.
While Canadian chartered banks are by far the best bet when it comes to cost and access to capital being established financially is key. Banks will look at your key issues such as your capacity to borrow, how much debt you have already, and what collateral and general business conditions exist in your company and industry.
Numerous financing sources exist outside the bank in Canada - they offer:
A/R Financing
Inventory Finance
Working Capital Term Loans
Tax Credit Monetization Financing
Govt Guaranteed Business Loans
PO/Contract financing
Sales royalty financing
Asset based business credit lines - revolving facilities that allow you to borrow against receivables, inventory and equipment
Equipment Leasing/ Sale Leasebacks
If you're focused on that ' healing power' achieved in proper business financing seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you in eliminating confusion around business loan achievability .
Stan Prokop - 7 Park Avenue Financial :
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 90 Million $ of financing for Canadian corporations . Info /Contact :
7 PARK AVENUE FINANCIAL = CANADIAN BUSINESS LOAN EXPERTISE
Have A Question /Comment On Our Blog Or Canadian Business Financing Alternatives ?
CONTACT:
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 '
Stan Prokop
