A Quick Guide To The Government Business Loan In Canada

Tweet






Government Business Loans Solve Business Credit Challenges

How do government business loans work ? If we only had the proverbial nickel every time a 7 Park Avenue Financial client asked us that questions. You guessed it.. we'd be rich!

Due to the fact that both the government and the banks are involved in the government business loan process business owners and entrepreneurs can be forgiven for not understanding how this business financing scheme ( hint - it's not a ' scheme; !) works.

Sometimes the frustration with timing and the mechanics of the loan relate simply to the fact that business folks don't understand how the program works - and it's not complicated.

So let's be clear - the Canadian government small business loan ( some folks call it the ' SBL ' ) is a program that has been in existence for many years and is administered by Industry Canada. It's a great way to acquire long term and often start up capital for a business .

The three categories of assets you can finance are:

• Equipment

• Leaseholds

• Real Estate

In some cases the loan cap is one million dollars, we typically see our clients borrowing in the 200-350k range. So that's not necessarily small.

Key Point - many franchises are financed under the program! Govt loans can be used to buy a business - franchise or otherwise.

The program requires a minimum 10 per cent owner investment into the loan amount. The government guarantees the rest to the bank,

WHAT DO YOU NEED TO GET A GOVERNMENT LOAN APPROVED ?

• A business plan/cash flow

• An equipment list

• Good personal credit of the applicant - typically a 650 credit bureau score

Looking for a way to ' fast track' your loan?  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

Direct Line = 416 319 5769

Email = sprokop@7parkavenuefinancial.com

http://www.7parkavenuefinancial.com




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 .

' 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.

Government Business Loans In Canada : Why Government Business Loans And Other Creative Financing Make Sense

It Might Just Be Magic Time For Your Business Financing Needs

OVERVIEW – Information on creative business financing options in Canada . Government business loans and other non ‘ term loan ’ solutions such as working capital and cash flow financings offer real world solutions for finance challenges in the Canadian marketplace

Creative business financing

in Canada requires that business owners/financial managers address any area of procrastination around looking at solutions such as government business loans and alternative financing , When things come together it's kind of like our version of ' Magic Time ' for your business growth and survival potential . Let's dig in.

The ingredients to financing success come from your firm's ability to mix together financing that addresses sales growth or asset monetization.

Canada's Government Guaranteed Business Loan is an interesting hybrid of traditional and alternative financing. It has the qualities of traditional term loan finance, while at the same time eliminating many of the factors that are required for businesses to access traditional debt - As an example it's available for start ups , franchise acquisition, etc. Given tougher credit standards post 2008-2009 recession that ability to get approved is key.

If there's mis-information around some forms of business financing in the Canadian marketplace clearly the Govt ' SBL' loan is a prime example.

What it is - A Canadian term bank loan that is guaranteed substantially by the federal government via Industry Canada. It only finances 3 asset classes - equipment, leasehold improvements, and real estate. A proper loan application package can be prepared in days and approval is typically within several business days for those that qualify. (A great example of ' time is money ')

What it isn't - It’s not a cash loan, and it's not a line of credit. And yes, owners still need to have reasonable personal credit history to qualify, although no personal assets are collateralized for the loan. Finally, you deal with your bank, not the govt!


Term loans such as the Government Business Loan might not always be what your business needs. Those firms that are already in revenue mode often need more working capital and cash flow generating ability to run/grow. Those solutions abound in the creative world of alternative financing, and the hard reality is that many forms of non traditional finance are becoming more ' Main Street' everyday.

They include:

Inventory Finance

SR&ED Tax Credit Finance

Sale Leaseback / Equipment Financing

Asset based non bank business lines of credit

Sales / Royalty Finance

P O / Contract financing

Franchise Loans


If your interested in getting to the stage of ' Magic Time' in business finance needs consider seeking out and speaking to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success to assist you in making sense out of real world solutions financing that will run and grow business.



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 FINANCING CREATIVITY












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

How To Get A Govt Loan In Canada. SBL Government Business Loans For These 5 Uses

ON THIS DAY IN CANADIAN BUSINESS HISTORY :
JAN 27/1994 - North American Free Trade Agreement ( NAFTA) goes into effect, creating a potential tariff free zone in Canada, the US and Mexico

'This doesn't seem to work when I cross border shop in Buffalo' - Stan Prokop





5 ½ Things You Didn’t Know About Gov’t Guaranteed Loans In Canada

OVERVIEW – Information on SBL government business loans in Canada . Canadian business owners and financial managers want to know how to get a govt loan and how they are used and what they are not appropriate for




Government business loans are a constant topic issue we discuss with clients who are wondering how to get a govt loan in Canada.

In reality there are numerous, 5 in fact uses for this type of financing , and despite the frustration we hear about from many business people and entrepreneurs you would be surprised at how straightforward the program is - if you have the right information and help. Let's dig in.

Many business owners/ managers can be forgiven for failing to understand the govt role in this program. They are in fact not the' direct lender' per se; they are simply the originator and administrator of the program, under the auspices of INDUSTRY CANADA.
.

So who in fact ' lends' your firm the money? No surprise it's our Canadian chartered banks - your goal is to find a local bank or banker that supports and understands the program. In the school of experience we've found the tuition in finding those bankers somewhat expensive! Your best bet is often to seek the expertise and skills of a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you in fast tracking an approval if you meet the straightforward guidelines.

So about those uses for government business loans in Canada. First of all many will be surprised that you can utilize the loan (commonly called an 'SBL' to acquire an entire business. It's a straightforward process - all you will need is your offer to purchase, a business plan, and the existing financial statements of the business you are acquiring. The loan will finance (to a maximum of 350K) all assets and leaseholds of the company you are looking to acquire.

Another solid, in fact very solid, use of the program is to acquire a franchise. Other than dealing with very specialized franchise finance firm government business loans are a great and popular way to finance a franchise.

Looking to acquire commercial real estate for your business. In many cases this involves owning the property your business occupies. SBL loans finance real estate up to $500,000.00 on amortizations of 7-10 years. Although we don't often see this type of deal as opposed to a commercial mtge. you should at least know it’s available!

Starting up? Many ' ' start up ' businesses in Canada have a lot, and we mean a lot of problem sourcing financing. The govt SBL loan program finances start ups and can be a great initial vehicle to get your business project or idea going. Financing benefits under the program even match the financing the big boys themselves can't even get - i.e. repayment without a penalty, limited personal owner guarantees, etc.

When it comes to financing assets many Canadian businesses gravitate to equipment financing in Canada for fixed asset acquisition. However government business loans also a solid mechanism to acquire equipment under generous amortizations and good rates.

The SBL program has solid benefits and terms. Those terms include rates of only 3% over prime, limited personal guarantees, long amortizations, no repayment penalties, and the ability to access business credit that you might not be able to achieve directly through banks or commercial finance firms.

But didn’t we say there were 5 1/2 things you might not know ?What's that other half about? It's our way of reminding clients that the loan is not used for cash loans or working capital lines of credit so don’t make that mistake when you require cash flow financing.

Today’s take away? Pretty simple - when you are looking at how to get a govt loan seek out the right expertise to maximize full benefits and use of this method of financing a Canadian business.




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 = Canadian Govt 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

Government Business Loans In Canada: Taking You Inside The Guaranteed Loan Program

Govt SBL Loan Financing Doesn’t Have To Feel Like A Contact Sport

OVERVIEW – Information on government business loans in Canada. When does The Guaranteed Loan Program Work for start up’s and SME companies





Government business loans in Canada work when you know how they are used and if your existing or new company qualifies. To some it must feel like tougher than a contact sport - but that should NOT be the case . Simple as that. Let's dig in.

To some the connotations of a ' Govt’ guaranteed loan conjures up images of ' red tape' and bureaucracy. That clearly is NOT the case by the way.

So what does the business owner/entrepreneur need to know about the SBL loan program in Canada? Let's take a look at some myth and reality around the program.

One issue that clients always want to talk to us about is the personal guarantee aspect of this loan financing. Here's the good news... here's the bad news. Yes there is a personal guarantee covenant around the program financing, but the good news

is that it’s a limited guarantee of 25% of the financing you are approved for.

While it might be true ( we're not sure) that this financing doesn't allow your business to become the largest and successful company in Canada the reality is that it finances around 7000-8000 businesses every year in all sectors of the economy - including mfg, hospitality, franchising, etc.

So who is in fact the Guaranteed Loan Program in Canada? The truth is that is simply an offering, via INDUSTRY CANADA, that is made to all Canadian banks and some misc. other institutions who wish to participate and administer the program.

So you don't have to ' visit' the government, so to speak, all you have to do is to find a qualified banker who understands the program. On occasion that is a challenge by the way, so that’s when it might be advantageous to seek out a business financing advisor who is conversant and comfortable with the program.

So what is in fact involved in getting approval for government business loans? To be eligible for the guaranteed loan program your business must have a premises lease that is available to your company for at least as long as the term of the loan.

Typical requirements are:

Business plan

Cash Flow

List of items to be financed - i.e. vendor quotes, invoices, etc (Assets that your company purchased in the last 6 months can still be refinanced)

Proof of incorporation/business registration

Premises lease

Personal net worth/credit info on business owner/owners

When you look at those requirements above they really don’t differ from any other type of business financing application.

The government guaranteed loans do not have a requirement for business owners to put up outside collateral, i.e. collateral mortgages, other assets, savings, etc - That's a good thing!

Commonly known as the SBL loan, the program finances equipment, leaseholds, real estate, and even the purchase of an existing business. Deals are structured as term loans, not lines of credit, and typical terms are 5-7 years as far as repayment. By the way, loans can be repaid without penalty, which often is not possible with other types of financing.

It's important to understand what the program is not. It is not:

A CASH LOAN

A BUSINESS LINE OF CREDIT

If you want to be an ' insider' on government business loans in Canada and have the ability to find out if this loan works for your firm seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your guaranteed loan needs.



Stan Prokop - founder of 7 Park Avenue Financial

http://www.7parkavenuefinancial.com

Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 10 years - has completed in excess of 80 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 re: Canadian business financing & contact details :

7 Park Avenue Financial = Canadian Government 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

Phone = 905 829 2653

Email = sprokop@7parkavenuefinancial.com

Stan Prokop

Government Business Loans. Here’s the Rules To Follow In SBL Funding Success

The Language Of The SBL Loan In Canada


OVERVIEW – .Information on the successful acquisition of government business loans in Canada . Funding for SBL loans just might be easier than you think if you know the lingo and rules!


Governement business loans in Canada. When you understand the ' rules ' and the ' lingo ' (the language of SBL Loans) you are of course well primed to achieve business funding success. Let's dig in.

There is no doubt that Canadian business owners, including start ups are more interested than ever in exploring govt small business loans under the Federal BIL/CSBF program. Those are the actual acronyms for the program that is offered/sponsored by Industry Canada in Ottawa. Most of us just call it the ' SBL' - the small business loan.

At the end of the day understanding the rules of being successful in government guaranteed loans comes down to just a few basic components

Qualifications

Documentation

Approval Requirements

So why is the SBL such a solid option when financing challenges are tough as ever? Of the 7000-8000 loans that are approved under the program we would venture to say that many of those are start ups or franchise acquisitions. Traditional financing for the start up or franchising acquisition is tough to get, so government business loans offer a perfect solution to that need.

While many business owners mistakenly think that they have to deal with ' the government ' for this financing the truth is all it takes is to seek out and find a Canadian banker that is knowledgeable and supportive of the program. (In our experience let's just say that some bankers either aren't interested or not qualified to successfully back you request - Enough said!)

All business owners and managers are in favor of increasing their odds of approval - making the program uncomplicated and straightforward is what we are trying to convey.

While we do basically agree that there are more choices than ever for non bank financing in Canada today we also recognize that the requirements from many commercial finance companies don't allow everyone to achieve financing success. So business owners/ managers seeking loans for their business are often asked for 100 per cent personal guarantees, outside collateral, co signers, etc. Other requirements might include strict covenants and ratio maintenance, and penalties when you get successful and want to prepay the loans!


So where do government business loans weigh in on in those areas. Well get ready, because it’s all good news:

100% Personal guarantees for SBL financing is not required

No outside collateral is required

Co -signers are not accepted by the program

No ongoing covenants need to be maintained

Pre payment of the loan comes with no penalties

Bottom line - It just doesnt get any better!

Seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can help you out with the rules of government business loans and funding approval for your business.

P.S. The loan maximum under the program is $350,000.00 and your start up or business must have projected or actual revenues less than 5 Million dollars.





Stan Prokop - founder of 7 Park Avenue Financial –

http://www.7parkavenuefinancial.com

Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 10 years - has completed in excess of 80 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 re: Canadian business financing & contact details :

7 PARK AVENUE = GOVERNMENT BUSINESS LOANS EXPERTISE



CONTACT:
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
Phone = 905 829 2653
Fax = 905 829 2653
Email = sprokop@7parkavenuefinancial.com





















Stan Prokop

Government Business Loans Eligibility In Canada . The SBL BIL Loan Just Might Be For You!

Are You SBL Worthy? Eligibility Issues For Canadian Government Business Loans

OVERVIEW – Information on government business loans in Canada . Eligibility for the SBL BIL loan must be addressed properly to reap the benefits of this program


Government business loans in Canada! You can pretty well guess or imagine that is one of the first questions we always get from a client is - am I eligible? So, are you SBL (Small business loan) worthy? Let’s examine the facts.

First of all one should be commended for looking into and exploring the program, because via Industry Canada the SBL Loan in Canada helps many thousands of businesses every year .

As we have said in the past we don't necessarily think that the 350k loan cap on the program is that ' small ' either - although we're pretty sure Warren Buffett isn’t using the program . Actually he can't, because of one the first eligibilities are that one has to be able to borrow legally in Canada via landed immigrant or citizenship status. So that quickly covers off one of our first eligibilities we guess.

There is both misinformation and misunderstanding around what your firm can borrow against under the program. To keep it simple the program is primarily used for equipment, leaseholds, and real estate. That equipment by the way can in fact include technology and application software, which are often components of many clients borrowing under the BIL loan.

That kind of brings one around to what can't be financed under the program. So it’s very important to clarify that the loan is not a cash term loan, it cannot finance working capital components such as receivables and inventory, and it cannot finance goodwill. Having said that though we remind clients that the program can be an excellent tool for acquiring a company if the firm being purchase has assets.

There is perhaps the perception by some out there that this is an 'easy money' program. While in fact it offers excellent rates, terms and structures it is important to point out that to be eligible you have to demonstrate a minimum of 10% permanent equity or down payment and the owner or owners of the firm must have a reasonable personal credit history.

The good news though that while it is very difficult for start ups to get initial financing for their business government business loans, aka the ' SBL / BIL ' are the perfect solution for a start up business that needs financing . That includes franchises by the way.

Suffice to say that you need a solid business plan and projection also, which can easily be prepared by a business advisor or accountant, etc - that’s of course for those that might not be 100% comfortable in preparing such projections.

One of the great features of the program is the limited guarantee - you as a borrower are only required to guarantee 25% of the loan personally. That leads us also to clarify that you must be able to demonstrate that you have some personal assets to back up that 25% guarantee - Naturally that’s the worst case scenario, so let’s stay optimistic here, right?

So, are you SBL loan worthy? You just might be, so seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist your with your SBL business loan need .

7 PARK AVENUE FINANCIAL
CANADIAN SBL LOAN FINANCE EXPERTISE





Stan Prokop - founder of 7 Park Avenue Financial –

http://www.7parkavenuefinancial.com

Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 10 years - has completed in excess of 80 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 re: Canadian business financing & contact details :

http://www.7parkavenuefinancial.com/government-business-loans-sbl-bil-loan-canada.html

7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
Phone = 905 829 2653
Fax = 905 829 2653
Email = sprokop@7parkavenuefinancial.com






Stan Prokop

Government Business Loans . How The SBL Loan Program Can Help Your Company

What’s The Noise And Commotion Around Government Loans?


OVERVIEW – Information on who can use and apply for government business loans and why the SBL loan program helps thousands of Canadian businesses every year .



Canadian business owners / managers might just get some valuable financing assistance from the 800 lb. gorilla of government business loans - we're referring of course to the SBL loan program in Canada.

When it comes to accessing up to 350k of new capital for your business it pretty well is the only game in town when other forms of traditional financing just seem a bit of a stretch... for the lender. For a qualifying business these loans offer solid rates, terms and structures. The bottom line... affordable and great access to capital!

Most Canadian business arent really aware that the government department known as INDUSTRY CANADA has this loan program in place to help you success in business. And that can be from a start up right up to when you achieve your first 5 Million dollars in revenue. (The 5M is the revenue cap your company or business must be under to qualify for the loan).

Quite frankly the program is one of your best friends for financing items such as equipment, leasehold improvements, computers and application software, and even real estate if that’s applicable.

The first thing you need to understand is that INDUSTRY CANADA itself, the ' sponsor ' of the program does not make the actual loans. They charter our Canadian banks to make these loans, and the government underwrites or guarantees most of the loan. As we have said in the past - ‘Talk about a great co signer ‘! Since the banks are assured of payment they of course become much more flexible when it comes to amortizations of the loan, credit approval, and other ratios such as debt to equity.

Naturally this program is geared to supporting business development in Canada - it's no secret that the majority of growth and employment these days comes from the SME sector... That’s where start ups evolve, business grows into corporations and people get hired. That’s economics 101 we guess.

So what do you have to do to qualify for this the SBL loan program? That's the most often asked question from clients inquiring about government business loans. The basics are a decent personal credit history, a minimum equity down payment of 10 per cent, and the ability to demonstrate your business has the working capital to get out of the start up phase.

The problem arises when the business owner/applicant things the SBL loan program is ' easy ' to get. We're a bit biased - we don’t think it's hard, but you do in fact have to have some fundamentals in place. Oh and by the way, many bankers either aren't familiar with the program, or are incapable of putting together the application, only because of their lack of interest or experience. So, point taken, seek out a banker or, even better, an independent Canadian business financing advisor who can get you fast tracked to financing success.

To recap, over 8000 business every year are approved under the program. All you need is a business plan and some typical back up information that you would have to supply for any type of financing whatsoever. And don't forget, outside collateral is not required- and you'll be more successful if you demonstrate you have the character and experience to make your business successful.

So, what is all the noise about?

It's the fact that financing you need just might be around the corner.





Stan Prokop - founder of 7 Park Avenue Financial –

http://www.7parkavenuefinancial.com

Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 7 years - has completed in excess of 80 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 re: Canadian business financing & contact details :

http://www.7parkavenuefinancial.com/government-business-loans-sbl-loan-program.html

Your Futile Search For Government Business Loans Ends Here. The Canadian Govt SBL Loan Navigated ….Perfectly!

Real World Financial Help For Gov’t SBL Loans


Information on the government business loans in Canada. Let the SBL govt loan put your business on solid footing.



It's over. No... Really it is. That somewhat futile search for what you have been looking for - government business loans. We're going to take you from the world of government websites (boy are they jam packed) to the real world of the SBL govt loan.

The real world is where we toil everyday and we'll share key info and advice on what thousands of firms such as yours look for additional financing not available elsewhere.

The trick is how to get that loan, and its approval through a process of qualification and documentation. We'll focus on three basic areas -

1. Why is this program such a great option?

2. Where exactly do you get this loan - that... in spite of the government websites! is still a mystery to many

3. What do you need to both apply and get approved?


Taking the guesswork out of the SBL govt loan process is where you want to be, right? So why is it worth the time to spend on this great business financing option? The reality is that you're in a large group, that’s the tens of thousands of businesses in Canada our SBL program deems as small.

That brings us to the definition of ' small ' which in the case of government business loans is under 5 Million dollars. Oh, and by the way that ranges from start up with zero revenues to actual sales, annually under 5 Million dollars.
It's of course firms such as yours that employ people, and represent a mega huge portion of Canada's economy. Thats in effect our answer to our above question #1 - obtaining financing is difficult for any business, any size, anytime... so for your firm to have access to a program that has great rates, structures and terms , with only a partial personal guarantee ... well, we think we have made our point!

So where do you get an SBL loan? In Canada this program is sponsored and administered from a regulation perspective the Industry Canada, a branch of our government. But the govt has arranged for your local Canadian chartered bank to run and finance the program, with a majority of the loan, in effect ' guaranteed ' to the bank... by the govt.

So, it’s as simple as that? Trucking down to your favorite local bank manager (are there even bank mangers these days ... i.e. the guy or lady that sits in the corner?) and applying?

Not so fast. Here's where reality hits the pavement. Although the program is available from every chartered bank, and even some credit unions not all banks love the program, some have changed the rules a teeny bit, and many don't employ staff who are both familiar with and are comfortable with putting the loan together .

And trust us... it’s not rocket science. We can't think of one aspect of government business loans that is really that different from any other type of business financing you may have applied for... other than ensuring you have paid and filed your personal income taxes. (Hey, it’s a ' Govt' loan!)

Program highlights?

Maximum borrowing of $350,000.00.

Great interest rates for the start up or established firm.

25% Personal guarantee only.

And by the way the program finances both assets and ‘leasehold improvements’. How good can it get?!


Looking for a fast track to the SBL govt loan? Speak to a trusted, credible and experienced Canadian business financing advisor who can get you from the 100 yard line to the goal line in a process that isn’t as hard as you thought.

7 PARK AVENUE FINANCIAL
CANADIAN SBL GOVERNMENT LOAN EXPERTISE!




Stan Prokop - founder of 7 Park Avenue Financial –

http://www.7parkavenuefinancial.com

Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 7 years - has completed in excess of 80 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 re: Canadian business financing & contact details :

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

How To Increase Chance Of Loan Approval For Canadian Government Business Loans – SBL Loan Advice

Something Worth Considering ! Government Business Loans

Information on Canadian government business loans . How entrepreneurs, business owners and financial managers can increase chances of loan approval for the Small Business SBL Loan .



Odds. We can't speak for you but we like them when they are stacked in our favor! So is there a way to increase your chances of loan approval for the SBL Loan... Canadian government business loans? We know there is! and we’re going to show you how.

Some folks might consider us biased, but we think it's very obvious that the Canadian BIL/CSBF program is, bar none, one of the best programs in Canada for small business, and that’s including start ups by the way. First of all, its about those great rates, terms and structures, as well as limited personal liability, but primarily because with a basic understanding of key program requirements you can find yourself ' APPROVED ‘ ( that’s one of our favorite words by the way) in a matter of days .

So what’s all this about stacking the odds in your favor? Most Canadian business owners and financial managers we meet, including those entrepreneurs starting a business have in some cases not heard of the program. However, more importantly those that have view the words such as ' government' ' bank’ with a bit of trepidation, sometimes based on real world experience.

The reality is that if you understand the key requirements of the program you are in a position to better address those issues, in effect ' finesse' them and tilt the odds of approval in your favor. Doesnt it make sense that if you understand the requirements, and present them in a professional manner you would be in a position to garner a full approval for your financing?

We feel sorry for the business owners and entrepreneur, including franchisees that show up at our door with tales of being declined or having spent too much time facilitating their SBL Loan financing. And suffice to say we even know their story before they tell it to us... simply that they failed to provide the right documentation in a coherenet understandable manner.It's a simple case of positoning yourself, your business, and your business financial future . That is often done by a strong business plan or executive summary.

Having to continually go back and address the providers of government business loans with additional information can of course create a negative spin on your financing request. That's not good.

In Canada the SBL Loan program is run by INDUSTRY CANADA. That’s the federal government by the way! We are sure they are nice people, but guess what? The bottom line is that you will never meet them as the Canadian government business loans are administered by your local bank.

The odds of increasing your chances of loan approval for an SBL loan improve directly in relation to the knowledge and quality of your banker. We're sorry to say that many bankers often exhibit signs of not being knowledgeable about the program or even supportive of the general spirit of the program. And by the way, that spirit is just one thing - providing your new or existing business with up to 350k in financing for equipment, leaseholds, software, real estate, etc on terms you would never normally achieve under normal business financing. Enough said.

If you want the complete attention of your banker have a solid package. There are only 4 or 5 things required in that package, so it’s hardly rocket science.

Want even better odds? Speak to a trusted, credible an experienced Canadian busines financing advisor who can fast track you to SBL loan success.


ABOUT THE AUTHOR - STAN PROKOP

FOUNDER - 7 PARK AVENUE FINANCIAL

CANADIAN BUSINESS FINANCING !

We finance the little guy .. P.S. We finance the big guys also!


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

Heard About Canadian Government Business Loans? Why Lending Under The SBL Loan Is Right For Your New Or Existing Business.

Don’t Forget to Check Out The Gov’t Small Business Loan Program

Information on the ‘ SBL ‘ loan , and why government business loans are the perfect financing and lending vehicle for new or existing businesses in Canada.




Small is big... in fact it’s huge! We’re talking about small business in Canada, and as most business owners know the large majority of all businesses in Canada are in fact ' small '. Small is relative of course. But when as a whole they represent a huge portion of employment and commercial sales it’s about time we acknowledged it.

Government business loans are one way in which our key business segment, the SME sector is in fact acknowledged. Its lending specially constructed for the small business owner; a loan new or existing business that makes sense, and in fact has attractive terms.

The simple reason why the government SBL loan should be so attractive to yourself as a business owner is simply that boy is it hard to get the financing you need, in case you haven’t found that out already.

Yes many alternative finance choices have become more popular... financing such as receivable finance, P.O. finance, tax credit monetization, bridge loans on equipment, etc.. but without a doubt the ' big kahuna' of small business finance is still traditional government business loans.

Even though Canadian banks can, we feel, quite legitimately be called conservative lenders the hard fact is that the financing they put through the government SBL lending loans is actually guaranteed in large part by the Federal government.

To its credit INDUSTRY CANADA, the department that administers the program has stayed to the program. Through recent economic recessions, market turmoil, etc the program has remain unchanged. Unchanged? Well not truly correct, because in fact the program got better!

During the 2008-2009 financial worldwide debacle Canada actually increased the loan amount under the program by $ 100,000... going from 250k to 350k. And the personal guarantee that you are required to make under the program remained the same, only 25%. Try and get any other business financing without a 100% guarantee backed by you personally... its simply not available.

But it’s still a tough environment out there; you need knowledge on which bank to deal with (the banks administer and fund the program under the government rules and guidelines). Additionally you need ' BOY SCOUT EXPERTISE “ ... by that we mean the motto ' BE PREPARED' never sounded better as applicable to ensuring government new business loans are achieved in a timely manner, securing the funding you need.

Simply speaking, knowing the rules, and putting some basic common sense strategies toward those rules allow you to get approved, as well as receiving the loan you need via our vehicle, the SBL loans in Canada.

You can greatly improve your chances of getting a government business loan, aka the ' SBL ‘. Knowing what conditions will in fact not allow you to get the loan is valuable information.

Speak to a trusted, credible and experienced Canadian business financing advisor on getting a proposal and package in place that virtually guarantees you approval under the program if you have covered off some very basic pre-requisites. Government business loans may be the perfect solution to the financing you need - check the program out!



ABOUT THE AUTHOR - STAN PROKOP

7 PARK AVENUE FINANCIAL

CANADIAN BUSINESS FINANCING !


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