What Is the Government Small Business Loan Program in Canada?

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The Latest News You Need to Know on Government Small Business Loans in Canada

The Government Small Business Loan in Canada is being offered! Why isn’t your company taking?!  We're talking about what just might be the best deal in town for Canadian small and medium-sized businesses - the government loan for small business - in our affectionate terms - 'The SBL‘! (Small Business Loan).

Do you equate business loans and the word 'success' in the same sentence when you think of your chances of business financing success? Most clients we meet don't!  They recount countless challenges in meeting their financing needs from what we term as traditional financing sources.

So, time to give up. Never, we say. One of the most viable options you can explore is SBL business loans for your company. They are offered (perhaps the better word is sponsored) by the federal government and the rates, terms and structures of this small business loan beat anything out there, and we'll show you why.

A word of caution though - you need to invest a little bit of time in understanding two key elements of the program - first, what it offers, and secondly, how you get to the goal line ... Quickly! (Many clients we meet are frustrated by their timelines in achieving this financing - you don’t have to be in their shoes if you follow our advice)

So, what is the program and what does it finance? That seems like a good start. The SBL government loan - small business is sponsored by the federal Industry Canada department. The program has been in place for many years, and last year almost hit 1 Billion dollars in financing for your competitors. (We want to put you on that same boat!). The program's official name is the BIL program, and it is a term loan, typically five or seven years in duration, at rates of 3% over prime.

While many larger corporations are required to provide full personal guarantees of owners for their business financings the SBL loan does not, requiring only that the business owner guarantee only 25% of the loan amount - how about that!.

Misunderstanding. That’s what we run into a lot when we explain to clients what the loan can be used for. Unfortunately, it is not a cash flow, but a loan that can be used for 3 separate categories of assets, equipment, leaseholds, and real estate also. Our own experience is that it is rarely used for real estate, but it’s nice to know that that facility is available to your firm.

Timelines. Time is money - who hasn’t heard that one? You can easily facilitate your SBL utilizing the motto of the Boy Scouts of Canada - 'BE PREPARED!'

When you are ready to commit to the loan ensure you have a crisp business plan ready, one that addresses the needs of your business and has a financial model in place showing repayment of the loan. Your own respectable personal credit rating is key also, and the loan typically requires a credit bureau score of 650 to gain approval.

While we speak in terms of a government loan the reality is that the feds charge our chartered banks with the actual administration of the loan - so in actuality, the loan is available on almost every street corner in Canada - where there is a chartered bank branch of course!

Want to learn more about Industry Canada's most popular finance program ... and, even more importantly, fast track business finance success? Speak to a trusted, credible and experienced Canadian business financing advisor with a track record of business finance success on government loans for small business - Get the SBL working for you... today!     

 

 

 

 

  

Stan Prokop

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 !



7 Park Avenue Financial provides value-added financing consultation for small and medium-sized businesses in the areas of cash flow, working capital, and debt financing.



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. He is an experienced

business financing consultant

.

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 financing 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.


Click here for the business finance track record of 7 Park Avenue Financial

What Is The Government Small Business Loan Program In Canada ?

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The Latest News You Need to Know on Government Small Business Loans In Canada

The Government Small Business Loan in Canada is being offered ! Why isn’t your company taking?! We're talking about what just might be the best deal in town for Canadian small and medium sized businesses - the government loan for small business - in our affectionate terms - ' The SBL ‘! (Small Business Loan).

Do you equate business loans and the word ' success ‘in the same sentence when you think of your chances of business financing success? Most clients we meet don't! They recount countless challenges in meeting their financing needs from what we term as traditional financing sources.

So, time to give up. Never, we say. One of the most viable options you can explore are SBL business loans for your company. They are offered (perhaps the better word is sponsored) by the federal government and the rates, terms and structures of this small business loan beats anything out there, and we'll show you why.

A word of caution though - you need to invest a little bit of time in understanding two key elements of the program - first , what it offers, and secondly, how you get to the goal line .. Quickly! (Many clients we meet are frustrated by their timelines in achieving this financing - you don’t have to be in their shoes if you follow our advice)

So, what is the program and what does it finance? That seems like a good start. The SBL government loan - small business is sponsored by the federal Industry Canada department. The program has been in place for many years, and last year almost hit 1 Billion dollars in financing for your competitors. (We want to put you on that same boat!) . The programs official name is the BIL program, and it is a term loan, typically five or seven years in duration, at rates of 3% over prime.

While many larger corporations are required to provide full personal guarantees of owners for their business financings the SBL loan does not, requiring only that the business owner guarantee only 25% of the loan amount - how about that!.

Misunderstanding. That’s what we run into a lot when we explain to clients what the loan can be used for. Unfortunately it is not a cash flow, but a loan that can be used for 3 separate categories of assets, equipment , leaseholds, and real estate also. Our own experience is that it is rarely used for real estate, but it’s nice to know that that facility is available to your firm.

Timelines. Time is money - who hasn’t heard that one? You can easily facilitate your SBL utilizing the motto of the Boy Scouts of Canada - ' BE PREPARED!'

When you are ready to commit to the loan ensure you have a crisp business plan ready, one that addresses the needs of your business and has a financial model in place showing repayment of the loan. Your own respectable personal credit rating is key also, and the loan typically requires a credit bureau score of 650 to gain approval .

While we speak in terms of a government loan the reality is that the feds charge our chartered banks with the actual administration of the loan - so in actuality the loan is available on almost ever street corner in Canada - where there is a chartered bank branch of course !

Want to learn more about Industry Canada's most popular finance program .. and, even more importantly, fast track business finance success? Speak to a trusted, credible and experienced Canadian business financing advisor with a track record of business finance success on government loans for small business - Get the SBL working for you... today!



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 !



7 Park Avenue Financial provides value added financing consultation for small and medium sized businesses in the area of cash flow , working capital , and debt financing .



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.

Stan Prokop

Know Why Government Loans Are Preferred So Much ? We Do !

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Make Government Business Loans Work For You

What is the best small business loan for Canadian business owners in the ' SME COMMERCIAL FINANCE ' sector in Canada. When it comes to lack of funding for start up or earlier stage companies already achieving revenues there is no doubt the government small business loan is a very viable solution .

Lack of funding in the earlier stages of a company's growth will always hurt long term business goals for sales and profits. Financing and execution of your business plans are of course as integral to the success of your company.

While many entrepreneurs focus on ' the bank ' for funding they typically cannot get all ( or even some ) of the business capital they need. Government in Canada recognized that a long time via Industry Canada the Canadian Small Business Financing Loan program. Some have written the program is the ' oxygen' for financing a business with government help.



There are some major key benefits to what we describe as the ' best small business loan ' in Canada. And by the way, small means under a million dollars , which in our books isn't that ' small '!

KEY FACTORS IN THE GOVERNMENT GUARANTEED BUSINESS LOAN

For a starter it is the government guaranteeing the majority of your business loan . That clearly eliminates a lot fo the collateral and reliance on personal financial information required by most ' traditional' lending institutions.

Down payments are always an issue for owners and the initial equity, or ' down payment ' you need to get the loan is modest indeed - typically in the 10-20% range.

Timing is everything in business, and if you're working with a proper Canadian Business Financing Advisor closing time on funding can be very quick in loan funding.

What does the Government small business loan finance ? That's a frequent question from clients here at 7 Park Avenue Financial . The answer:

Equipment

Leaseholds

Software

Real estate

Loans under the program are structured as term loans between 2-5 years from an amortization / length of loan perspective . Prepayment is not penalized !!


Steps To Be Successful With A Government Guaranteed Business Loan

A recent articles in Canada's major newspaper, the Globe & Mail, highlighted great ways to achieve success in government financing . That included ensuring what your business financing needs are, being pro-active in putting together a plan and request, and ensuring owners have reasonable credit history .

Seek out and speak to a trusted, credible and experienced Canadian business financing advisor with a track record of business finance solutions.



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 !



7 Park Avenue Financial provides value added financing consultation for small and medium sized businesses in the area of cash flow , working capital , and debt financing .



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.

Stan Prokop

How to Get Capital To Start A Business with a Government Business Loan

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Are You Looking For The Best Government Business Loan to Capital To Start A Business

Government Small Business Loan Financing is a solid way to end the worry around start up loans and lack of capital when starting or buying a business in Canada.

The Small to Medium enterprise ( ' SME'' ) is a great utilization of the popular business finance program. When you think of the worry and risk that comes with starting or buying a business surely financing ranks right up there ! It might just be time to start worrying.

Solutions to start up capital are found via the federal government , in particular the Industry Canada offering. Loan amounts have recently been increased to 1 Million dollars, but the vast majority of these loans tend, in our experience, to be the in 500k and less range.

The business owners ability to qualify simply revolves around the right documentation and your ability to fast track basic issues around your loan proposal. It is without this knowledge that many of the recipients feel frustrated in achieving financing success.

Is the Govt loan program a solid option - we let our clients decide . But when traditional financing is tight and many forms of business finance are simply unattainable start up loans via govt assistance are definitely a major option to consider.It's simply a case of knowing the rules, and as we've said in the past, creating a short roadmap to business finance success.

HOW TO GET SMALL BUSINESS GOVERNMENT LOANS

So why are some of those business folks we've talked about worried or frustrated in the small business loan progress. In reality it helps to have an advisor assist you ensuring you are accessing and qualifying the right amount of funds. You want to ensure you are working with a seasoned business financing advisor who has had success and has expertise in the govt loan process. Validate those credentials .. allowing you to ultimately save a lot of time and money


In our experience there is a lot of myth or misinformation around the program. Here's the truth around some of those myths and misinformed issues.

Anyone legally allowed to borrow in Canada is eligible for the program . You should ensure you can substantiate a reasonable net worth and good credit standing . Experience in your industry certainly helps!

Clients always want to know what is eligible for financing under the program . In fact only 3 asset categories apply - equipment, leaseholds, and even real estate . By far the 2 most utilized categories are equipment and real estate.

Bottom line ? Stop worrying and spend some time getting the real ' skinny ' on business financing offered by the government . Speak to a trusted, credible and experienced Canadian business financing advisor with a track record of success on making the program work for you.

How to Get a Government Small Business Loan in Canada - SBL Business Financing

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A Pretty Decent Idea on Financing Your Business

Information on Canada’s government small business loan and why SBL financing has the best rates, terms and structures for small business and start ups in Canada

Most Canadian business owners and financial managers are not aware that if they have been 'refused 'a loan by a Canadian chartered bank that they can still apply, (to that same bank!) for a government guaranteed Small Business Loan

.


We have observed this loan is called a number of things by a number of people -Borrowers refer to it as an 'SBL '(Small Business Loan), or a 'government small business loan. Bankers tend to refer to it by its more formal and legal names, the BIL loan, or the CSBFL.


Whatever you want to call it, the loan is a great part of the governments focus on assisting business with financing.


So how do you get the loan, and what's involved?


Although the loan is directly guaranteed (90%) by the government, the loan is actually administered by the Canadian chartered banks. The government emphasizes that they like the banks to participate in this program, and the government guarantees to the banks the 90% of the loan amount.


The biggest issue, we think, with the program, is the misconceptions that come with the program - business owners think they cal get a 'line of credit 'under the program. This is not the case. In certain instances the program tends to be confused with another program called the COMMUNITY FUTURES program. This is a separate program that is funded by certain economic regions to promote employment and business in that particular area or geography. It tends to be a bit more 'rural 'in focus. Again, we emphasize, the Community Futures program is not the government guaranteed Small Business Loan. (In the U.S. our government loan is called an 'SBA' loan, as it's administered by a separate organization set up by the government).


So, who qualifies? Hopefully your business! You must have revenues under five Million dollars per annum.


So when should you proceed - We would recommend right now, not when your venture is in desperate need, at which point your chances might be less than successful.


What is the 1 Million dollar issue on the program?! It's as follows - Dealing with banks and paperwork requires proper preparation, detail, and you need to allow for some reasonable time frames. That is your 1 Million dollars worth of advice!!


So what are those key next steps? Ensure you have a crisp financial package - balance sheets and income statements, your personal financial statement of net worth (more on that in a moment) and a clear business plan and summary of your business, the funds needed, and the purpose of the loan. A proper description of any assets being purchased (quotes / invoices, etc) helps also.


The application must re handled by a Canadian bank. Here is where we recommend that if you either don't have a banker, or if you don't have a strong relationship with a bank/banker that you used the resources of a business financing advisor /expert in this area. The nominal fee you might pay this person is worth its weight in gold if they have solid contacts and experience.


In our experience many government small business loans are not automatically approved on the first time - they are in fact reviewed and adjudicated by people at the bank that you will never meet. So be prepared to enter into healthy dialogue on any questions or issues that might come up! It is not unusual to go back and forth a bit clarifying any of your issues that might have come up in the application.


So whets the bottom line? It's as follows: this is a solid government financing program. Business owners should understand it's administered by the bank, but not run by the bank, so to speak. Prepare a good package, if you can't, enlist an expert by speaking to a trusted, credible and experienced Canadian business financing advisor on the government small business loan ( SBL ) Be patient, and hopefully those government funds will be 'flowing 'into your firm shortly?




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


Click here for 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 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.

Stan Prokop

Gov’t Guaranteed Loans In Canada : Winds Of Change In The Government Small Business Loan

The Great , The Good, And The Bad & Ugly On Changes In Government Small Business Loans

OVERVIEW – Information on recent (relatively !) changes in the government small business loan in Canada . Gov’t guaranteed loans provide solid business financing for thousands of businesses from start up to SME

The government small business loan has been, and continues to be a benchmark in start up and small business financing in Canada. Govt guaranteed business loans have had some changes, so it's time to ' plug in ' to these changes and how they impact the financing benefits of this program. Let's dig in.

Have you heard about those ' winds of change '

in ' SBL’ small business loans in Canada? The ' great ' news is that the fundamentals and purpose of the program clearly do not seem to have changed. That's probably recognition by INDUSTRY CANADA (they sponsor and manage the program) that the SME COMMERCIAL FINANCE sector in Canada generates a huge portion of employment, revenues, and... oh yes ....taxes!

So for over 50 years the program has delivered solid financing for businesses in all industries. Fundamentals of the program include the opportunity to start, grow, and expand your company. In many cases these loans are a direct substitute that our clients would normally not be able to successfully receive under ' traditional ' bank financing criteria. Those criteria are all too well known to the entrepreneur who arrives ' plate in hand ' looking for business financing or expansion capital.

Those winds of change that have entered the program do not affect the basic fundamentals - financing is available for start ups or established businesses with less than 5 Million dollars in projected or actual revenues respectively .

Assets that can be financed include equipment that is either new or used, or leasehold improvements to leased / rented premises. It's important for the business entrepreneur, financial manager to understand that those equipment categories are extremely broad. It includes rolling stock, such as trucks or other vehicles, computer, telecom, and application software, and even the ability to finance a franchise.

What can't you finance under a government guaranteed SBL loan? That's the painful news we often have to deliver to clients to have exhausted other financing options - that includes goodwill, credit lines, fees to purchase a franchise, or R & D costs in developing a product. ( Note - use the SR&ED program to finance and cash flow your research and development - these credits can be financed also ).

So what about those ' changes ' to the program? Although banks are chartered to fund and administer the program the bad news is that different banks tend to, by law, interpret the program differently.

Recent legislative changes to the program include the ability for fees to be charged by the bank, as well as personal guarantees to be required on a case by case basis. (Traditionally only 25% guarantees were required). We suppose those are the ' ugly ‘(as deemed by the borrower) portions of changes under the program.

If there's a bottom line it's certainly that most top experts agree that the Canada Small Business Loan program is still a clear winner for start up, franchise, and growth financing in the SME sector. 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 obtaining govt backed loans that meet your requirements.







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 :





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

The Government Small Business Loan In Canada : Skipping Intelligently Through Changes In The SBL

Translating New Rules For Government Small Business Loans Into … Plain English !

OVERVIEW – Information on new rules around the government small business loan in Canada . The good, bad and some ‘ugly’ around SBL loans in Canada

The Government Small Business Loan in Canada , aka the ' SBL ' is undergoing some dramatic changes in the program. Are you up to date on the good, bad and ugly (there’s very little ugly!) and the ' who cares' of this very popular program that finances thousands of new and existing businesses every year? Let's dig in.

Many clients we meet and talk to have not even heard of the program in some cases, so a super quick ' primer ' just might be in order. Patterned similarly to the U.S. equivalent ( there it's called can 'SBA' loan ) this financing was created by the Canadian government many years back to allow Canadian business owners and entrepreneurs to have access to capital where they might not normally access traditional Canadian chartered bank financing .

Although it can be debated how seriously the banks embrace the program the reality is that over the years tens of thousands of businesses have qualified and been approved under the program. The government guarantees a large portion of the loan to the banks in case of default.

If the government guarantees default why wouldn’t the banks fall in love with the program? The main reason is... which you might not believe, is ' paperwork' at the bank level.

Yes, it’s correct that top experts in the field tell us that the ' administrative burden' that come with banks filing for the loan had become too much.


So... enter Change! And while significant, on balance they still in our opinion make the program robust and a solid solution.

So what are those changes? First of all the old program had a personal guarantee scenario that was quite attractive to borrowers, in that they only had to guarantee 25% of the loan from a personal liability perspective. New legislation via INDUSTRY CANADA (the program administrator/manager) allows banks to take a full personal guarantee on the amount. What's our take on that one? Pretty simple actually - since almost 99.999% of all business in the SME financing sector requires shareholder guarantees anyway what’s really the issue here.

Oh, and by the way , under the SBL small business government loan no personal collateral can be taken or secured, which definitely isn't the case for most normal bank borrowers under SME Commercial Finance conditions.

Other changes to the program include small fees to be charged for set up, documentation and registration of SBL loans in Canada. The truth is that in any financing in the SME sector the borrower almost always pays the legals and doc fees anyway, which are often in the several thousand dollar range or more. So the few hundred dollars charged for an SBL loan is somewhat of a moot point, don't you think.

It would initially appear that the old cap of 350,000.00 for equipment and leasehold financing may be lifted. So. Does that mean ' unlimited financing '? Hardly, we think given that new borrowers still have to meet the same equity requirements and working capital requirements of the program.

Rates, terms, and overall structure of these loans still remains the same, and they are ultra attractive in our opinion given the often start up or early stage nature of businesses that apply.

So, while Mr. Dylan

might still be right ( " The times they are a changin' ")
the CSBF program - the ' SBL ' Government Business Loan is still a great deal and should be considered by all borrowers who can't qualify for full traditional financing. Seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can guide you successfully through changes to the program.



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 SBL Small 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

Fax = 905 829 2653

Email = sprokop@7parkavenuefinancial.com


' Canadian Business Financing with the intelligent use of experience '

Stan Prokop