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Government Business Loans Solve Business Credit Challenges
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
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.
