Investigate Canada Government Grants and Loans - The Small Business Loan Program Works!

YOUR COMPANY IS LOOKING FOR BUSINESS FINANCE SOLUTIONS !

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Financing & Cash flow are the biggest issues facing business today

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

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

EMAIL - INFO@7parkavenuefinancial.com


If you are either a start up (pre revenue) firm or an established small or medium (we'll define medium a bit later) sized company in Canada you should be investigating, and using the Government of Canada small business loan program.

Why? We will give you 4 reasons - great terms, rates, structures and qualification criteria. Could you ask for anything better in Canadian business financing? We don't think so and we have been a fan of the program now for years.

Many clients or callers requesting information on the program (the formal name is BIL / CSBF) often utilize the terms 'grants' when requesting info on the program. The BIL /CSBF program is not a grant. It is a special business financing program sponsored by Industry Canada (those good folks in Ottawa...). The program was developed by the government to assist the thousands of firms who might not qualify for what the finance folks call 'traditional financing' - aka "the bank!".

We also promised you we would qualify the term 'medium sized firm' when it comes to qualifying for the program. In the case of the Small Business loan program any firm under 5 Million dollars in either actual or projected revenue still qualifies for the program. Naturally your firm has to be privately owned, and be considered a 'for profit' business. (We're all 'for profit'!)

As we said, many customers call looking for 'grants' - we're all for free grant money also - we are sure it exists out there somewhere, we just have never found it. Actually, let's clarify that, two great programs, S R ED, and film tax credits are non repayable credits you can easily apply for if you qualify for either of those credits. Those two programs are a discussion for another day though.

Typical client questions always include - how much can we get or apply for? What are the rates and terms? And what's the process involved? Get ready for a short, simply and basic primer in all those three areas!

The Canada government small business loan has a maximum cap of 350,000.00 dollars. However, if you chose to use this financing for real estate you can actually receive 500k. We note that for many years the program had a cap of 250k and during the global recession (2008-2009) the government raised the limit on the program.

Many firms who are either new or have challenges might think the rates and structures are onerous under the program. Exactly the opposite... financing is at only 3% over prime, and from a term perspective you can go from 5-7 years, we typically structure 5 years as a reasonable term.

Penalties to pay back if you're successful - There are none!

There isn't a day when we don't spend time advising clients on what can be financed under the program...that's where a lot of mis-information exists. The program only covers equipment, leaseholds and real estate. We would add that software is included in the equipment category.

So who is using the program? Almost 8000 businesses did in 2010 - so you can be sure that the program works and is robust.

The greatest challenge around the program in our opinion has been the confusion on where and how to apply. We've completed transactions in a week and then heard from clients that they have spent months floundering on their processes in this type of financing. Speaking to a trusted, credible and experienced Canadian business financing advisor in the area of government small business loans will get you on the fast track to some of the best financing available in Canada today.

Stan Prokop is founder of 7 Park Avenue Financial - http://www.7parkavenuefinancial.com

The company originates business financing for Canadian companies and is a specialist in working capital, cash flow, and asset based financing. In business 6 years the company has completed in excess of 45 Million dollars of financing for Canadian corporations of all size. For information on Canadian business financing and contact details please see: http://www.7parkavenuefinancial.com/canada_government_grants_loans_small_business_loan.html

Article Source: http://EzineArticles.com/6209137




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.








Stan Prokop





















Article Source: http://EzineArticles.com/6209137

Government Loans : You’ve Unintentionally Stumbled On the SBL Small Business Banking Secret

The Financing Of Champions ? Government Business Loans In Canada

OVERVIEW – Information on government loans in Canada . Where doe the ‘ SBL ‘ loan fit in when it comes to access to small business banking for Canadian business




Government loans availability in Canada often comes as a surprise to the business owner/entrepreneur. Many clients we talk initially don't seem to understand how the ' SBL ' loan fits into the small business banking structure in Canada.

Let's examine what we think you will consider a pleasant surprise when it comes to discovering the access and capabilities of this loan. Let's dig in.

When it comes to starting, or building a business in Canada the entrepreneur is often concerned about the aspect of personal guarantees. How does the issue of the ' PG ' (personal guarantee) fit in when it comes to the BIL/CSBF loan program? By the way that's the formal term for this loan program, which is administered by INDUSTRY CANADA in Ottawa.

But back to our ' guarantee ' issue. It's really a ' good news/ bad news' scenario here. The bad news is that a personal guarantee is required under this loan program. The good news: It's only for 25% of your loan amount - with maximum loans under this program being $ 350,000.00

Why should Small business loans via the federal program have so much appeal to the entrepreneur. They are clearly not for the ' big boys’. It's all about helping small business, including restaurants, service companies, mfg firms, etc. In fact the government goes so far as to limit the actual or projected revenues to 5 million dollars when it comes to eligibility and application for the loan.

One other important technical aspect of the loan is that while the program was created and developed by the government they do not run it on a daily basis. That's the job of Canada's chartered banks and a handful of other misc. institutions - but primarily our banks.

So it seems that the best place to go to both learn and apply for the SBL loan is any local bank branch, right? We wish that were the case , but in our many years of experience in guiding clients through the program has shown us that unless you have an experienced advisor guiding you through the process your chances of success are severely diminished.

It's almost humorous, and somewhat ironic that in the U.S., where a similar program exists, the rules state that the entrepreneur must in fact be formally turned down by the bank before they can apply for the SBL loan. As one writer has so well put it ' I've never met an entrepreneur who couldn’t get turned down for a loan by the bank ‘!!

So what’s required when it comes to applying for government loans with a strong chance of approval success?

The basics are: an opening balance sheet and cash flow projection, a personal statement of finances from the owner/ owners (net worth statement), an executive summary or business plan, and an itemized list of items to be financed.

There's a lot of misinformation, lets call it ' urban legend' around government loans. Here are some examples -

It takes too long to apply/get approved (WRONG - A complete application is usually adjudicated within a few business days)

You need outside collateral as in many other types of business loans (WRONG - No outside collateral is required)

The SBL Loan is similar to a business credit line (WRONG - It's a term loan that finances only two categories of assets - equipment and leasehold improvements)

You can't purchase an existing business with the BIL loan (Wrong - you can!)

If you find that you've stumbled upon one of Canada's best kept secrets - the Govt Small Business SBL Loan and want to ensure your access to this great program (7000-8000 loans are approved each year for Billions of $ ) 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 accessing this great financing program.





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-loans-small-business-banking.html





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 SBL Government Loans Work . Here’s A Hint . It’s Not Vegas But It Is The SME Canada Business Financing Alternative

Decoding The SBL Business Loan In Canada
SBL loans make total sense




OVERVIEW – Information on government loans in Canda. When SME Canada is searching for a business financing alternative SBL loans make total sense

Business financing in Canada, perhaps unbelievable to some, can actually be achieved via government loans. SME financing can benefit from a great tool. The Canada Small Business Loan. How does this loan work? .. and unlike Vegas odds,

it’s a sure thing if you meet certain clear criteria. Let's dig in.








The challenge of new and smaller businesses in the SME sector in Canada revolves around the issue of raising capital. The BIL/CSBF program, which are the official acronyms of the SBL loan provides a methods for our somewhat risk averse banks to approval business financing for our needs.

How does the SBL loan achieve this? It allows your firm to get financing for items such as leasehold improvements, typically not financeable with any other lender. Additionally, as we have hinted, our Canadian chartered commercial banks have some fundamental criteria for business lending.

Those criteria are typically historical track records which must evidence profits, cash flows, tangible net worth, and owner solid personal credit history. Not every business and certainly not every new business can meet or exceed this criteria.

So, as we have hinted, if you're not eligible at the bank for equipment and leasehold improvements financing you are immediately eligible if you apply under the government guarantee that Ottawa provides to our banks through INDUSTRY CANADA , which sponsors and administers the program.

In the last decades or so over 1 Billion dollars of loans have been made to Canadian business.

What are then some of the basic criteria that doesnt make this a Vegas crap shoot?! They are not complicated. Your business must have annual or projected revenues less than 5 Million dollars, the owner /owners must have a reasonable personal credit history, and also must not be in default of any federal income taxes. It would be somewhat ironic for the government to guarantee a loan to a business owner who has not filed, or has defaulted on income taxes owing.

What else does the business owner need to know? A couple more basics include the fact that the loan limit is $350,000.00, and that the program only finances 3 asset classes:

EQUIPMENT
LEASEHOLD IMPROVEMENTS
REAL ESTATE

Research and development cannot be financed under the program, but the good news is that R&D financing can be also achieved under the SR&ED program. You can finance your SR&ED Credit separately.

It's therefore critical to understand that this is not a working capital loan, and does not operate as a line of credit. Simply speaking, it’s a term loan.

Looking for more ' DECODING' of the program. Simply speaking you must have a minimum of 10% permanent equity or down payment on the financing provided, and you only have to provide a 25% personal guarantee on the total amount of the loan.

Cost of financing? Loans are made at 3% over prime, and come with fixed and variable options.

Looking for assistance in completing SME financing under the SBL government loans? Seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your capital needs. Unlike our Vegas scenario, the odds of being approved are significantly in your favor if you understand the program requirements.




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 = SME Business Financing Options

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

How To Get Government Loans In Canada . The Small Business Loan Demystified

What’s So Top Secret About Gov’t Business Loans ?


OVERVIEW – Information on government loans in Canada . How does the business owner and entrepreneur secure a Small Business Loan – aka the ‘ SBL’



Government Loans in Canada? The Canada Small Business loan program is an ongoing major initiative by the Canadian Federal government to provide capital financing to new and existing businesses that meet the criteria of the program.


The program is very popular in Canada, primarily because it a business loan that the business owner may not have been able to achieve elsewhere.


Many business owners and financial managers either aren't aware of the program, or, as is more often the case, don't understand the requirements of the program and how to ensure a proper approval in a timely manner. Naturally, rightfully or wrongfully so, there exists a perception that any government type funding program is extremely paperwork and administratively burdening to the business.


There are several key basics that allow a business to ensure that they are in fact qualified to pursue the program. Those basics are as follows:



1. The company must be a private corporation - public firms are not eligible


2. The company must be under 5 Million dollars in revenue


3. The loan must ' flow through' a registered administrator of the program - In Canada this is typically a chartered bank - this is one of the key perceptions of the program, in that the banks ' administer ' the program, but they don't own it


4. Only three major asset classes are covered under financing in the program - they are as follows: Equipment, Leaseholds, and Real Estate

The government, as we have shown, doesn't lend the funds, but it guarantees the funds to the bank


Almost every type of business in Canada can qualify for the loan program.The challenge of course, as always, is ' How does my firm get approved?!'

If a business owner or manager feels they are not capable of providing a proper submission to the bank it is highly recommended that they used the services of a trusted financing advisor or intermediary.


We cannot overemphasis that the key to dealing with the government and the bank is that it is critically important to have all the necessary paperwork in a properly submitted and, hopefully, professional package.


What does that ' paperwork ' include? Companies should ensure the package reflects the current financial position of the company, ( START UPS WELCOME !) a proper business plan and or executive summary, and miscellaneous personal data surrounding the bank and government requirements - i.e. statement of net worth, proof of no tax arrears, etc.


Most importantly is the need to position a proper purpose of the loan re dollars, timing, use of funds, etc


Most business owners don't realize the true benefit of doing everything once, the right way! In lending and loan approval that is important. You can re- submit and renegotiate, but that is not an optimal strategy for business financing success.


In summary, the bottom line is ' do it once, right '. Looking for expertise and assistance? Seek a trusted, credible and experienced business financing advisor with credentials in this area.




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 = Government Small Business Loan 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 Loans And Financing Tax Credits In Canada For SRED And Film Tax Programs

Spoiler Alert ! You Just Might Be A Corporate Welfare Bum .

Here’s How ? Or Did We Mean Why ?


Information on government loans and tax credits in Canada




Government Loans in Canada . And dare we say it: OMG! There it was, right in front of our eyes - an article in Canada's leading business daily newspaper suggesting that clients that we help daily are corporate welfare bums. Talking about how to hurt us! Let's clarify! So let's dig in.

A recent white paper by one of Canada's most respected THINK TANKS suggested that there is a major increase in ' Corporate Welfare ' One department in particular, ' Industry Canada ' has ' doled out' over 22 Billion dollars since the 1960's. A lot by any imagination since all those zeros add up to some real money once in awhile.

We never weigh in on the political stuff, although deep down we do find something wrong about the 5.5 Billions dollars given as non repayable loans to 3 of Canada's major corporations named in the article. The guilty will remain UN - named in our musings here.

So what’s our beef with all this ?It's simply that the financings we originate on behalf of clients around the
SBL loan program , Canada's non repayable film tax credits , as well as our revered SR&ED program seem in our eyes ultra legitimate program which promote business, the economy, employment, taxes, etc.

Take Government SBL loans in Canada. While every year somewhere between 7000-8000 companies, clients like ours , take advantage of the program they do that because they are looking for basic business financing that meets needs for ongoing needs for equipment, leasehold improvements, computers, software, real estate, franchise purchases, etc .

And the reality is that they utilize the Small business loan program via our efforts simply because it’s a competitive loan at decent rates and structures that could not be achieved otherwise via our Canadian chartered banks. The basics of the program are as follows:

Available for start ups or established businesses with revenues under 5 Million dollars

5-7 Year terms

Rates at 3% over prime

Nominal personal guarantees

Repayable without penalty

We again point out this is a loan program, it's not a grant.

As far as SR&ED and film tax credits go these are Canadian tax credit programs that create non repayable funding for research and projects in the film and animation industry. Most believe these programs provide an effective means of furthering Canada's position in industry and, in the case of film, entertainment and the Transmedia industry.

Financing for SR&ED provides valuable working capital and cash flow for assets that otherwise couldn’t be monetized via Canadian banks in the traditional manner.

So, final point? We’re quite sure that somewhere out there that there is some real corporate welfare types. But for our clients Govt SBL loans and tax credit financing for film and SR&ED is a legitimate way to grow businesses and further revenues and profits for the Canadian economy.

Looking for legitimate govt loan program financing for Equipment, leaseholds, film and animation tax credits, etc? Seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can help you monetize these programs for cash flow and working capital 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 = GOVT LOANS AND TAX CREDIT FINANCING 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











The Original Globe & Mail article referred to : "Industry Canada has doled out $22.1B in corporate welfare since 1961: report " By Columnist Andy Radia













Stan Prokop

SBL Government Loans Might Be The Business Loan Solution Your Start Up Needs!

Another Option to the brother- in- law loan ?




OVERVIEW – Information on start up financing in Canada. SBL government loans just might be the business loan that successfully starts your business



Experts agree that start up financing in Canada is a challenge for any entrepreneur. Did it every used to be easy? We're not sure but we do know that capital for the ' start up ' is in fact one of the most challenging issues that you will face. By the way, that goes for debt and equity... although today we're focusing on the debt component of your business. The world of angel investors and private equity and VC's are a subject for another day!


Government SBL loans are an alternative to the entrepreneur having to take a home equity loan, borrow from friends and family (it’s never good to borrow money from your brother in law!)

Or seek alternative financing capital that is available, but comes with higher rates and more restrictive structures.

So, can we say there is less capital around and that it's harder to achieve - The pundits out there will debate all day on that one. Instead we'll focus on getting clients the financing they need, at solid ' big business ' rates, terms and structures, via SBL government loans.

Most Canadian business owners/manager is somewhat skeptical when it comes to the phrase ' government' and small business success. We won't weigh in on the hundreds of reasons they might be thinking that way - all we can say is that the Government small business loan, via Industry Canada has helped thousands and thousands of start up businesses every year. So the proof is in the pudding we maintain!

A key element to understanding the program is simply grasping that you are not dealing directly with Ottawa on these loans, they are offered by your bank when you are able to (finally) find a banker that is familiar and has success with the program. What the government does do is to ' guarantee ' that loan to the bank for the majority of the loan. If you're a good banker that’s a strong incentive to make more loans!

Why would the government get involved in start up financing? The bottom line - we don't care, and we know our clients don't care; they just think it’s a great thing to be able to access financing, to a maximum of 350k, at rates just several points over prime. (By the way, prime couldn't be any lower these days, right?)

We do suspect though that Industry Canada, the sponsor of the program likes to feel that they are stimulating the economy and helping out one of the largest sectors of the economy, the SME sector.

So, start ups. A challenge to finance? Always, but one sure fire solution is SBL start up financing that gets your business out of the gate. Speak to a trusted, credible an experienced Canadian business financing advisor who can assist you with your needs.

7 PARK AVENUE FINANCIAL
START UP FINANCING 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/start_up_sbl_loans_government_business_loan.html

Confessions Of An SBL Government Loans Super Fan . The Canada Small Business Loan

Looking For A Creative Way To Finance Your Start Up Or Small Business In Canada? Here’s How!


Information on small business government loans in Canada. Why the SBL loan is a preferred financing vehicle for thousands of businesses like yours.



SBL government loans. I guess you could call us a fan, even a super fan. The word fan comes from the root word ' fanatic ‘, denoting an ' enthusiastic devotee. So why is the Canada small business loan the recipient of our full support. Let's try and preach to some of the potential unconverted.

More and more businesses in Canada, new, and established, are seeking loans backed by the government. Talk about a great co-signer! And remember that we are talking about a loan, not a grant. We're always being asked about ' grant money’... free money in essence. We're sure it's out there somewhere, we just haven't found it, and we're equally believers in the ' there is no free lunch ' concept!

The SBL loan is a great choice for business when you're in a touch economy; it’s all about choosing the right lender under the program and ensuring you are aware of some basic rules and regulations that allow you to qualify for the program. We feel quite strongly that every Canadian business owner can actually do a great job of pre-qualifying themselves in advance.

Let's recap some of those basic qualifications. They include being a Canadian citizen or being eligible to legally borrow in Canada. That's just common sense. Although you only have to only guarantee 25% of the loan personally that comes with the understanding that you have a reasonable personal credit history. In Canada the credit bureaus work on a ‘scoring ' basis, and for purposes of SBL government loans you should at least have a score of 650.

The questions of rates and structures always comes up in connection with questions from clients. Interest rates are ultra competitive given that you business is either completely new, or has under 5 Million dollars in revenue (That’s the revenue cap under the program). Rates on the SBL small business loans are in the 3% over prime range and a small government fee can usually actually be added into the financing of the loan.

Any business financing application has strong elements of one thing - and that’s common sense questions. You should therefore be prepared to address some very basics, including a resume or bio on yourself, a description of your business, a cash flow repayment plan (that’s critical). Additionally some supporting documents are required, all of which in our opinion are again. very ' common sense ' oriented. They include a copy of your tax return, your incorporation data, a premises lease, etc.

It's a great idea to also have a clear idea of the financing you are requesting. The three categories of assets that can be financed under the program are equipment, leaseholds, and real estate. Unfortunately it’s not a cash loan per se, so there are no working capital or cash flow borrowings under the program. And by the way that’s a popular misconception.

We should also add that you need to inject a minimum of permanent equity, in effect your ' down payment ' of 10% of your total borrowing.

It’s strongly recommended that you investigate the power of the Canada small business SBL loan. You just might find you will become a super fan also! Speak to a trusted, credible and experienced Canadian business financing advisor for help with this great program.






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_loans_sbl_canada_small_business.html

The Great Debunk On SBL Government Loans . The Canada Small Business Loan . Now You Know

At Last - The Real Scoop On The ‘SBL ‘


Information on SBL government loans in Canada . Small business financing success can be yours with this information




Nothing is as satisfying as setting the record straight on myths and misinterpretation in Canadian business financing. That's why we're ' debunking 4 , can we call them ‘ urban myths ‘about SBL government loans , It's your Biz 101 on the small business loan, which by the way, at 350k maximum has never really seemed that small to us . Here we go!




1. Because of the general tight credit environment there is a common belief among many that SBL loans are not being made. Using 2010 as the most readily available data clients are often surprised to hear that over 7000 gov’t small business loans were made that year, for several Billion, yes that’s Billion with ‘b’ dollars. So never think that there is not a healthy environment for qualified business owners and entrepreneurs for the Industry Canada BIL loan.



2. It’s not easy. That's probably one of the most common things we hear about the program. All we can say to that is that it's as hard as you make it, because the program is very defined , needs only a handful of criteria for successful completion, and at the same time provides great terms, rates, structures, limited guarantees, etc around the financing you will receive . Where it does not become easy is when you don't understand the process and qualifications.
3. It takes forever. Well if you consider two days forever we suppose you're right, but a proper submission under the program will usually come back with a final approval (or decline) within a day or two. Our own experience is that there is sometimes some back and forth on a transaction after it has been submitted which are essentially some ‘clean up ‘items or clarifications required by the underwriter.



4. Myth # 4 - You don't need a business plan. Plain and simple, you're wrong, because successful submission under the program always need a business plan, Does it have to be professionally prepared and follow general guidelines around this type of document, no, but clearly a well thought out plan that provides a clear overview of who you are, what your business is, and the financial potential is important. Remember, the SBL underwriter isn't sharing the profits or future profits of your business; he or she just wants to know they have a reasonable chance of getting repaid out of your sales and resultant cash flow.


So that’s the great ‘debunk’ on SBL Canada government loans. You're now well armed and informed to move ahead towards financing success. Speak to a trusted, credible and experienced Canada business financing advisor for assistance with your government loan.




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/sbl_government_loans_canada_small_business.html

Is The Guarantee Of The SBL Canada Small Business Loan Really Guaranteed? Increase Your Chances For Government Loans

Don’t Just Survive ! Grow Your Business With An SBL Loan.


Information on the ‘ SBL ‘ ; Canada small business loan. How can business owners, franchisees, and entrepreneurs increase their chances of approval for government loans.


A pretty basic question. Is the Canada small business loan, i.e. government SBL loans, really ' guaranteed '? Two points here, first of all the loan is guaranteed by the government to your lender, but you are certainly not ' guaranteed of approval! But with the right knowledge, and the right preparation you can dramatically increases chances of approved funding.

Let's examine how you can ensure your business is approved for financing under this program. Some of the techniques and info we share we could almost characterize as subtle, and some are simply a key requirement to get the job done. It’s not hard to take ‘guesswork ‘out of the program and increase the odds of financing approval.
You must be able to at least understand the lenders language, even if you don’t speak it everyday.

At the end of the day it’s about some basic organization around your information, dealing with the right party, and being able to clearly demonstrate that your business is the right firm with which to have a borrowing/lending relationship.

Doesnt it make sense that if certain information is required for the Canada Small Business Loan that you are able to provide it? That info that's required is hardly ' rocket science' by the way; it’s actually a short laundry list. The essence of that info is a business plan, quotes or invoices on what you want financed, a cash flow forecast, and information about your self with respect to assets and liabilities and your personal credit history.

You want to be able to demonstrate how the financing will assist your business, whether it’s a new business, a franchise, or assets required to operate and grow your company. When we listen to clients who say they have spent far too long in getting approved for government loans we can usually demonstrate they have responded properly to the financing info request.

We're fond of an expression called ' deal fatigue '... that's simply when enthusiasm by you and your lender hit an all time low on your transaction. So by putting a package together with all the info, including a positive attitude and approach, you are able to present a strong picture of your capabilities and experience.

The SBL small business loan is actually administered by Canadian banks on behalf of the government department, Industry Canada. There isn’t a day that goes by when we don’t hear the comment ' banks arent lending ', or ' banks are only lending to their existing client relationships'.

We tell clients they will never be in a position to change the way banks do business in Canada (God knows we've tried that ourselves!) but you can take advantage of programs that clearly are meant to finance and grow your business.

Many clients are too focused on rates on all types of business financing - That’s our opinion. The reality is that using a 100k loan as an example an interest rate difference of, say 5% will only mean a monthly payment difference of a few hundred dollars. And the reality is that rates on government loans are fixed anyway. Bottom line; don’t focus all your efforts on rates when any new business financing can help your business grow.

The Canadian SBL program provides millions of dollars of financing to businesses like yours. It helps your business achieve financing it otherwise could not obtain. As a borrower you need to deal directly with both the positive and negative aspects of your loan, and you must be able to project positive future performance. That's not hard to do by the way.

You can successfully achieve financing by working with an advisor or banker that both understands the program and can ensure your financing is fast tracked to success via the right information presented in a positive manner.




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/sbl_government_loans_canada_small_business_loan.html

Best Time To Consider Government SBL loans ? Now! The Canada Small Business Loan Works

Small Business Financing Tailored to your perfection!


Information on government loans in Canada. The attractive rates, terms and structures of this financing make now the time to consider the Canada Small Business loan, aka ‘ SBL ‘.





A whole lot of business relates to good fortune or business smarts around timing. So when exactly should business owners investigate and pursue government loans? We're talking specifically about the Canada small business loan, and our recommendation is: right about now!

When many Canadian business owners or financial managers of start up firms, or firms that are under, say five million dollars in revenue think of a government loan they might tend to think of this as some sort of handout or something involving a strategic tax break of sorts. That’s the farthest thing from the truth around the SBL loan program in Canada.

If we had to describe it simply ( that’s our style by the way ) we'd say it was a specially tailored financing program for new or smaller firms that provides access to funding and financing you normally might not qualify for under more traditional criteria and from those ' traditional' institutions, aka our beloved Chartered banks.

So when you take the time to understand the program, ensure you qualify for it you just might agree with most that its one of the most superior financings in today’s economy.

We're referred several times to the amount of 5 Million dollars as a revenue size. That’s for a reason, which is simply that the program is only offered to firms that have under 5 Million dollars in sales or who are start up, pre revenue in nature. Franchises by co incidence are great candidates for this the Canada Small Busines Loan, technically referred to as the federal BIL/CSBF program.

Recall also that we identified the SBL as being perfect for firms who couldn’t access traditional bank financing. Well, if you are looking for some irony, those same banks that might not have provided you with the financing you wanted are actually the same entities that administer and run the program. How ironic! It's just that the majority of the loan, when approved, is in fact guaranteed to the bank by those good folks at INDUSTRY CANADA in Ottawa.

So are SBL loans one of those secrets only shared and utilized by some. You decide, because for the latest statistics available over. 7000 firms in 2010 used the program for billions of dollars in financing. That might be one of your competitors by the way.

What makes the program so great? The fundamentals are simply very attractive from a financing point of view. Rates are just several points over the bank prime rate, terms are from 5-7years typically, and even items such as leasehold improvements can be financed - those items typically being very difficult to finance under any financing at any time. Actually BIL, the technical term of the program stands for Business Improvement loan.

So, yesterday? Already gone. The future - who knows where your firm will be at. So consider now as the appropriate time to investigate SBL government loans as a vehicle for business financing success. Speak to a trusted, credible and experienced Canadian business financing advisor today on why this program is right, right now!





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_loans_sbl_canada_small_business_loan.html