The Federal Small Business Loan In Canada . There’s No ‘ What If ‘ When It Comes To SBL Loans

There’s No Shenanigans When It Comes to SBL Loans in Canada



OVERVIEW – .Information on the Canada federal small business loan . Why the ‘SBL ‘ Can help your business financing needs





The Federal Small Business Loan. When we think of the term ' shenanigans ' it conjures up images of fooling around. There are no shenanigans when it comes to the Canada ' SBL' loan. It's a straight forward program for Canadian firms, start up included, to get the financing they need to start/grow their business.

Is the program a great idea? We think so and here's why, so let's dig in.

For starters any connotation you have with grants or hand outs need to be dispelled right away. You don't have a ' right ' to receive approval for such financing, so it’s a bad idea if you think you are on the ' auto qualifies ' path. You are not.

What SBL loans are about is the fact that its a government guaranteed financing program that is the cornerstone of at least 7000-8000 businesses every year – for Billions ( yes that’s with a ‘ B’ ) . The government, under ' INDUSTRY CANADA ' guarantees the majority of your loan to Canada's chartered banks. The general theory around the federal small business loan is that the bank is making a loan under conditions they otherwise might not be able to make to Canadian businesses with revenues up to 5 Million $, which is the size cap for companies wishing to apply .

When you are approved for such an SBL loan financing its safe to assume you have a good deal. Why? Simply speaking rates, terms and structures are both attractive and competitive. Loan rates are 3% over prime, financing is repayable at any time without penalty, and the whole issue of personal guarantees is often allayed because of the need to provide only a 25% personal covenant for the loan. Those sorts of terms, especially when it comes to start ups, or franchises, are ultra attractive and simply not available with other more traditional loan financings.

So how does the bank, which administers the loan program for the government, assess credit criteria? As we said, there are no shenanigans here; it’s a very simple short list of criteria. Owners must have reasonable personal credit, they must be able to make a 10% permanent down payment (equity) contribution, and they must have a proper business location backed up by a premises lease.

By the way, the SBL program in Canada is really one of the only vehicles that allow you to finance leasehold improvements which typically are difficult to finance under normal circumstances.

You also must ensure you supply a business plan and cash flow projection that demonstrates your ability to repay the loan, which has a maximum borrowing of $ 350,000.00. Remember that the SBL lender, aka our Chartered banks are not equity players. They have no upside! They’re just happy that you can make the loan payments out of cash flow from profits.

Most Canadian business owners and managers never seem to feel that business borrowing is straightforward. In reality we agree its a bit of an art and science ... so seek out and speak to a trusted, credible and experienced Canadian business financing advisor with a business financing track record who can assist you with your SBL small business 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 :


FEDERAL SMALL BUSINESS LOAN – THE SBL




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

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

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

Facts On SBL Government Small Business Loans In Canada

Things You Must Know About SBL Loans In Canada



Information on government small loans in Canada . The SBL loan program is a viable form of financing for any eligible company who can’t access traditional bank capital



Government small business loans in Canada. We're talking about some straight facts around ' SBL ' financing in Canada. We all have heard the story: businesses in the SME sector account for huge portions of the Canadian economy in employment, revenue, and tax generation.

In Canada Industry Canada is the government department / organization that sponsors and administers the SBL program.

The SBL small business loans program allows for maximum financing of 500,000.00$, however that amount is limited to real estate only. The limit for financing of equipment and leasehold improvements maxes out at 350,000.00$.

The program sets a maximum interest rate of 3% over the bank prime rate. Unlike a similar program in the U.S. (In the U.S. it’s called the 'SBA ') the SBL program does not cover cash loans, working capital, business lines of credit, etc. That's a popular and unfortunate misconception when it comes to businesses that are looking for other types of financing.

One area of clarity that we explain to clients is that both corporations and individual business owners, i.e. a proprietorship, can be eligible for an SBL Loan.

Why are SBL loans so popular then? We’ll quickly add that they apply to any business that has real or projected revenues under 5 Million dollars annually. The popularity is derived from the simple fact that businesses in the SME sector traditionally have a tough time raising capital... of any kind!

Without strong financial statements or solid net worths and guarantees from the owners there is a real financing gap in Canada when it comes to term loans and access to capital .

In Canada the SBL program is administered, as we said, by INDUSTRY CANADA . But that is not your key contact for any loan application. It's your bank, who administers the program on behalf of the government. This allows banks to provide a valuable dimension to business financing in Canada to the small business sector.

So what in fact are the requirements of the program? Essentially you need to present a sound and viable business plan that shows a reasonable expectation of profit and of course cash flow generation - which is of course what repays the loan.

The business owners provide a guarantee limited to 25% of the amount of the loan. That in itself is a great thing, given that the majority of business financing in Canada requires 100% owner guarantees. As a business owner applying for he SBL program you should be able to demonstrate a good personal credit history and we can only call a ' reasonable' personal net worth. Things like being a homeowner and having some savings, etc certainly help the cause.

A couple key business ratios must be satisfied in your business plan and financial projects - they revolve around debt to equity and working capital calculations. Your business advisor or accountant can make sure these are properly presented.

Government Small business loans totaling the in billions are provided to almost 8000 businesses annually in Canada. Speak to a trusted, credible and experienced Canadian business financing advisor who can assist you in finalizing your access to one of the best programs in Canada when it comes to finance for the small business sector.

7 PARK AVENUE FINANCIAL

CANADIAN GOVERNMENT SMALL BUSINESS LOAN SBL 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_small_business_loans_sbl_canada.html

The SBL Government Loan. Financing Your Company Thru Canadian Small Business Loans

The SBL Government Small Business Loans Help You Launch Or Grow Your Business

Information on the SBL Government loan in Canada. Canadian small business loans can be used for a variety , but not all, financing needs.


The SBL Government Loan in Canada. This is the government’s way, via INDUSTRY CANADA, to help small businesses in Canada obtain the financing they need to start or grow their business. Last year probably close to 8000 businesses in Canada used Canadian small business loans to get the financing they needed.

And you can be forgiven for asking ' well, what’s SMALL’ ... ‘because we get that one a lot. In the context of the SBL loan it covers new and existing business which have up to 5 Million in revenue, or who project less than 5 Million dollars in revenue.

As we have said, the loans provide crucial financing to help Canadian business secure the financing it needs through guaranteed underwriting by the federal government.

What can be confusing to the business owner or financial manager is in the fact that the government is not a ' direct lender' per se when it comes to the program. In fact it’s in essence a co signor to your financial institution, guaranteeing to that institution a very substantial amount of your borrowing. Typical institutions who offer the program are Canada's chartered banks and numerous miscellaneous organizations, commercial credit unions on occasion, as an example.

Naturally the government guarantee clearly enhances your chance of approval, while at the same time working as a ' risk reducer ' from the viewpoint of your chosen financial institution.

What you need to understand when you apply for the loan is 5 critical things. They are:

- Eligibility

- Amount of financing available

- Repayment and amortization terms

- Restrictions

- Process - for approval that is!


You or your firm must be eligible to borrow legally in Canada. Also, since it’s a gov’t loan per se can we safely assume you should have your federal taxes paid and up to date? Yes we can assume that!!

The loan typically maxes out at $ 350,000 under the program, although many business owners don't know that you can also finance real estate up to $ 500,000 under the program. So it’s actually an alternative to a commercial mortgage in some cases.

Repayment terms for the SBL government loan typically is 5 years, although 7-10 year amortizations in fact are theoretically available. And by the way, penalty for early prepayment...? None!

Funds typically are used for equipment and leasehold improvements, and by the way that includes computers, software, etc. It's a fallacy that Canadian small business loans are cash and working capital and inventory focused. They are not - that is not how the program works.

Many business owners/manager might view any approval process via a government program as cumbersome e. Its not, if, and only if, you know what you are doing. In fact it just requires a business plan, some financial projections, and typical info you would associate with ANY OTHER business loan.

Speak to a trusted, credible and experienced Canadian business financing advisor on how you can fast track SBL government loans for business prospering.




7 PARK AVENUE FINANCIAL
IS AN EXPERT IN SBL CANADIAN SMALL BUSINESS LOANS




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_loan_canadian_small_business_loans.html

Damn You SBL Canadian Government Loans ! Secrets To Unlock Federal CSBF Loan Success

Solid Tips and Info On The Canada Small Business Loan –
P.S. – It’s Not That Small


Information on the SBL loan program in Canada . Can Canadian government federal loan guarantees help finance your business . Here’s how! CSBF loans work.



Damn you SBL Canadian government loans !That's one battle cry of Canadian business owners who we meet that are either desperately seeking knowledge in the area of the federal Small business loan or who feel frustrated around what they feel the process is to successfully secure such a loan.

A better cry they w would prefer would probably be ' Release the coffers ‘. They would of course prefer to be among the many thousands (approximately 8000) of businesses in Canada that annually are successful in complete the gov't small business loan.

So whets the difference between winning and losing when it comes to securing a government SBL loan? Several factors come into play... let’s discuss some of the important ones.

It's no secret of course why business owner seek this loan. it has strong rates, terms and structures that quite frankly even large corporate borrowers can secure. What do we mean by that? For one thing, the majority of private businesses in Canada have to ensure the owners are prepared t personally guarantee their loans and credit lines. That’s the same Canadian government loans, except, and it’s a big except, your guarantee is limited to 25% of the loan. Talk about a good thing!

Another point in the SBL scenario is that the majority of loans and leases in Canada cannot be prepaid without penalty. By utilizing federal government loans for your business you can prepay with penalty, if you're fortunate enough to be able to. While many Canadian business owners and financial managers would like to be in a position to do this, quite frankly if you are financing assets and leaseholds at good rates and terms why wouldn’t you want to use valuable cash flow elsewhere, such as growing your business .

Many Canadian businesses do not feel the banks are pro lending when it comes to smaller and medium sized businesses. By the way, the actual revenue cap for the federal SBL loan is 5 million dollars, so we do acknowledge that that eliminate many larger firms who certainly wish they could secure the SBL loan.

Whether or not you have confidence in the banking system when it comes to corporate lending is a whole different discussion , the reality is that that lack of confidence should go away when you're applying for a govt small business loan .

Critical to successfully securing the amount of financing you need under this great loan product is the ability to find and work with a banker who understands the program. This unfortunately is a problem businesses should have to deal with, but are faced with when it comes to the SBL program. In our opinion many bankers simply don’t understand or want to bother with the program. It's important to secure the services of a great SBL banker who recognizes you as a client the bank wants to have, and keep.

Some other great secrets around being 100% successful in SBL loans? Not as complicated as you think.

Understand the nature of the program and what it can and can’t do

Prepare a solid proposal that provides ALL of info required on an SBL
Application - there are 6 or 7 key basic criteria

Anticipate questions and any worst case scenario

You may wish to increase the chances of your SBL Canadian government loans process by doing something very simple - secure the services of an expert - Typically a trusted , credible and experienced Canadian business advisor who can fast track your transaction, and , by the way, one who probably knows the best banker in town anyway!








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_canadian_government_loans_federal_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

Best Practices On Getting Canada Government Loans. Let The SBL Loan For Small Business Work For You

Get On Board with The Gov’t SBL Loan !


Information on Canada government loans. What best practices can Canadian business owners use to successfully receive the SBL loan for small business.



Canada government loans for small business. Are there some ' best practices ' to follow to ensure they work for you, and that of course you get approved? We think there are.

If you have worked in a larger corporation at any time (trust us ... we have) they always talk about ' best practices. They are defined as practices or methods that will ‘consistently show results superior to those by other means’. We’re not the biggest fans of buzzwords and ' corporate speak ' but we will say that it does seem quite applicable to our subject, the SBL loan in Canada.

When Canadian business owners, from start up to SME consider applying for Canada government loans it’s all about the rules. And when it comes to those rules that's where it gets a little tricky, because if the truth were to be told ( and we're telling it ) there are two sets of rules . One is the rules set out by the Small business loan program (The CSBF) and the other rules seem to be set out by those that run the program on a daily basis, ie the Canadian chartered banks and other miscellaneous institutions.

That’s where solid ' best practices ‘tell you that you don't want to be really ' winging it’ when it comes to applying and getting approved.

In reality the short list is really just that, quite short when it comes down to program qualifications. You need a crisp business plan and cash flow projection. Your plan should cover some real basics, and we assure clients it doesn’t have to read like a book. That's not the intent.

You just want to be able to convey a concise description of who you are, what your business is, who you compete against, and how you will operate and sell. It's as simple as that. If you can talk to those key points we feel you should be able to convey them in writing also, don’t you think?

That business plan and cash flow is the key document in successfully obtaining Canada government loans for small business. Those loans range up to $ 350,000.00 in value, have great rates considering that you are a start up or SME enterprise, and additional enhancements to the program include limited personal guarantees (clients love that one) as well as the ability to prepay without penalty.

Supporting documents are key to your plan, and they include what we always have felt were the basics - tax returns showing you have no arrears (after all it’s a government loan!), copies of your incorporation data, a premises lease. and supporting invoices or quotes you want financed .

All of the above data we shared are in fact our recommended ' best practices ' when it comes to the small business loan program in Canada. You increase your chances via an organized and positive approach, and basic attention to detail.

Speak to a trusted, credible and experienced Canadian business financing advisor who can assist you on the approval your firm or start up deserves.




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/canada_government_loans_loan_small_business_sbl.html

Canada Government Small Business Loans . Let The SBL Loan Give You An ‘A’ In Canadian Business Financing

Getting It Right With SBL Loans in Canada


Information on Canada government small loans. Why the SBL loan program get A marks from Canadian business owners.


Canada government small business loans - can they give you a sense that you have just achieved an ' A ' grade in Canadian business financing? We think so, and here is why the SBL loan makes solid sense for your firm, whether you are a start up, or if you fall under the 5 Million dollar sales level criteria which are one of the parameters of the program.

Whether you're the ' start up ' or simply looking for capital to expand your business the SBL loan probably makes sense, at least from a viewpoint of checking it out .

In many ways the Canada government SBL loan is the perfect vehicle for helping start up and small businesses achieve finance success. Why is that? Simply because traditional Canadian chartered banking is unable to facilitate the needs of much of those two business categories without the backing of the government on the loan.

Industry Canada, via the CSBFL program guarantees to those the banks that participate in the program 90% of your loan. Typically the type of firm that is looking for financing cannot meet the underwriting guidelines of a normal financial institution.

We have always been somewhat mesmerized by the Canadian business owner and entrepreneurs fixation on rate. Even before the loan is submitted the proverbial 'what’s the rate ' issue always seems to come up. In the case of Canada government small business loans the good news actually is that the rate and repayment terms are... quite frankly ... great.

Those rates include a 3% over prime core rate on your transaction, and with a selection of a variable rate you can pre pay the loan, at any time, without penalty. If the truth were to be told many clients talk about pre payment but are rarely in a position to do so... but we can dream can’t we.

Is there any aspect of the program that isn't and ' A' grade. We've got our own opinions on that - what we will say is that while the program itself has minimum guidelines each of the participating institutions within the program in fact have a few of their own policies and guidelines . That's why it is critical to align yourself with an experienced person or firm that understands how various institutions in fact inflict their own rules on the program.

Those rules and guidelines, which vary often include some key ratios that have to be met, or perhaps and additional contribution requirement over and above the 10% equity component you are required to put in on the transaction.

Simply speaking then, if we consider business financing a game, (it’s actually serious stuff) then you as a borrower or entrepreneur need to know how that game is played!

Your own kind of personal ' hell ' or frustration often begins when you don't follow the simple steps to SBL loan success. Those steps include a business plan, cash flow projections that are reasonable, and some very basic supporting documents that you would think would be attached to any business finance application.

So, can you expect to get an ' A ' in SBL small business loans in Canada. You certainly should if you investigate the requirements and focus on satisfying them in a complete and timely manner. Speak to a trusted, credible and experienced Canadian business financing advisor who can help you fast track through the valuable program for entrepreneurs of new and existing businesses in Canada.





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/canada_government_small_business_loans_sbl_loan.html

5 Other Myths About Canadian Government Loans . The BIL SBL loan Isn't What You Think!

You Need To Know This About SBL Loans !


5 Other Myths About Canadian Government Loans . The BIL SBL loan Isn't What You Think!



Canadian government loans. We wrote recently about key misunderstandings on the SBL loan program in Canada. We cleared up some myths, hopefully, and... here's some more!

Myth # 1- It can't get any better than this when it comes to misunderstanding. Many Canadian business owners and financial managers are under the distinct impression that if one bank declines your submission then all Canadian chartered banks might, or will do the same.

Here it's also necessary to step back a bit and say that the SBL BIL (Business Improvement Loan) is run my Industry Canada, the federal department branch. However on a day to day business you simply deal with your local banker or via an experienced advisor.

So back to our point, the reality is that if a bank did in fact not approve your submission another bank just well might. Of course we're making the assumption you have properly prepared, which unfortunately isn’t always the case.

This myth, if we can call it that, is one of our biggest ' bones to pick ' with the program, It's that each bank ' interprets ' and then underwrites the program in a different manner. Some even choose not to participate in the program at all, and worse, many do not train their staff to properly understand and explain the program to their clients. But we digress....!

It might be best in many cases to speak to an expert in this area to determine if in fact you are working with the right parties. Talk about saving you time and money!



Myth # 2- Are you guaranteed funding if you have a strong submission and a proper business plan and cash flow forecast. One that addresses the who, what when where and why scenarios as a good plan should. The answer, unfortunately, is no, there are no guarantees. Again, not our favorite way of doing things from our perspective, but each bank underwriter has their own interpretation of your business's success. In our opinion they might be biased about things such as your industry, your geography or location, etc, Suffice to say preparing a tight plan and anticipating all the questions and issues sure helps.

Myth # 3-The rates and terms and structures
offered by each bank differ even though it’s the same Canadian government loans program. The answer is simply no, there are no differences, and the rates are the same under the program, essentially 3% over prime. Where misunderstanding occurs is where each bank has different advance and down payment scenarios. The permanent equity down payment you need in such a loan by the way is 10%.

Myth # 4 - You only need 10% down to get approved and qualified. In theory, correct, in practice not correct! Again, different banks may require some additional working capital back up to help guarantee business success. And again, and not our favorite way of doing things, each bank is different.

And our final debunked myth? Many applicants think they need outside collateral or 100% personal guarantees or other guarantors on the loan, which by the way caps out at $ 350,000.00 as the maximum you can borrow. Not the case. The equipment and leaseholds and even real estate you choose are not collateralized by your personal assets. That’s a good thing.

Is the SBL BIL loan for you? We sure think it is, as long as you have the proper information. Speak to a trusted, credible and experienced Canadian business financing advisor who can assist you to ' debunk those myths and get you ... approved!




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/canadian_government_loans_sbl_loan_bil.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

Wondered How The Canada SBL Government Business Loan Works?

Get The Advantage You Demand & Deserve In Canadian Business Financing

Information on the Canadian government business loan – aka the ‘SBL ‘ program . Understanding the program is your key to success


Although the majority of Canadian business owners and financial managers have heard of or have some knowledge of the ' SBL ' , aka the government business loan most do not fully comprehend how this financing program works.

Although the word ' government ' is sprinkled liberally through all the jargon and conversations we hear about the program the reality is that you have essentially no direct involvement with any government personnel or the perceived bureaucracy that we as Canadian business owners associate with the program.

We're going to assume you're taking that as good knows, although we've got nothing against the good folks in Ottawa.... (When they are doing things properly!)

Industry Canada is the department that sponsors, administers, and to some extent markets the program. They are committed to getting businesses like yours capital, via Canadian chartered banks, that you need to grow and operate your business.

The government in effect guarantees your lender. Since the inception of the program Billions of dollars have been funded under the program.

In general terms the program is designed to help your business secure equipment, land, and leasehold financing for long term needs. Unfortunately many business owners in Canada misinterpret the SBL government business loan as a potential cash or working capital loan. That is 100% not the case; it finances assets and real estate.

When you fully understand the program you comprehend that your local lender, predominately Canada's chartered banks are the ones that actually spur financing growth under the SBL. So if you have a need tor debt that falls under the program parameters you fund your transaction locally.

Understanding the lending parameters of the program is key to your success in completing the financing in a timely manner. Oh, and by the way the program has a lending cap of $ 350,000 ($500,000.00 on real estate), which we think takes the ' small ' out of the small business government loan. That's not chump change!

The essential loan parameters of the program are as follows - 5-7 year amortizations are typical, giving you ample time and low monthly payments. Rates are 3% over Canadian prime, and a small admin fee is assessed by the government as part of the application. (You can often have this admin fee financed as part of your transaction!)

Banks in Canada of course typically evaluate loans on the basis of personal credit, income and collateral. Under the SBL you do in fact need a respectable personal credit history, but even if your firm is a start up with no historical cash flow info available you are still 100% eligible for the financing. Here's where a slick business plan or executive summary comes into play quite nicely - simply demonstrate how future cash flows will repay the loan.

The government guarantee is for the majority of the loan and can only be invoked if your business defaults on the loan, so the risk is jointly shared by the bank and the government, but mostly by the government.

Understanding how the SBL government business loan works is key to a successful financing. And by the way, getting approval is half the battle, you also need to have an understanding of how the loan is administered, so that’s worth some time investment also.

Speak to a trusted, credible and experienced Canadian business financing advisor on ensuring you understand the process, due diligence and financing of this program which will finance billions of dollars this year for your competitors, and hopefully you!





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_business_loan.html

Why The SBL Government Business Loan Bridges The Gap Between Banking And Canadian Business Financing You Need Today

SBL Loans Fill The Gap In SME Finance In Canada

Information on the Canadian government business loan . How SBL financing provides an intermediate finance solution for start ups and small to medium sized businesses with revenues or projections under 5 Million dollars


We're talking about the gap today. It's the gap that is the bridge between a Canadian government business loan and the traditional banking term loan. So how does SBL financing help you or your firm bridge that gap. Let’s examine.


So what's the ' scoop ' on SBL loans? They are term loans from your bank with Industry Canada, i.e. the federal government guaranteeing 90% of the loan.

So what's the goodness in all of that. Simply that it is a great financing vehicle for start ups, small, and medium sized businesses who are looking for loans they will repay from future cash flow that they might otherwise not be able to obtain from the traditional Canadian chartered banking system. Additionally they might not have the collateral to collateralize the loan in a manner that most banks require.

It's prudent at this time to recap what mainstream chartered banks in Canada require for this same type of financing. Typically a company such as your will be required to have substantial equity in your company or the transaction in question.

Banks in Canada are very focused on what commercial lenders call the 3 C’s of lending. Those 3 C's are the banks interpretation of your character, your company's capacity to borrow ( i.e. repay!), and the quality of collateral you can offer up, The bottom line all that then ... the bank must feel comfortable with your business - its sales, cash flows, and any external issues relating to the current economy, your particular industry, etc.

So that brings us back to ' the great divide '. It’s the gap that the government business loan delivers on Canadian business financing for those firms that can't meet the requirements of Canadian business banking in the traditional manner we think of.

Don't forget also that bank loans come with commitment fees, prepayment penalties, covenants, and extreme default measures when things go awry.

So we have come full circle to a proposed solid alternative, SBL financing, that’s 'SBL ' as being the acronym for what most people call the ' government business loan '.

How does it fill the gap then? It sure is obvious to us. It allows you to repay a loan out of projected cash flow when historical cash flows are insufficient or simply not available. That's because thousands (yes thousands) of firms that utilize the program are in fact start ups, pre-revenue firms that are looking to build and grow a business.

In many cases the assets of the business otherwise would not allow you to complete a financing.

Is there enough money go around in the program? That’s a typical client question. The answer is a resounding yes! In 2010 alone over 7000 businesses borrowed billions under the program. And yes, that's billions with a ' B'.

Uses of the program are equipment financing, leasehold financing, computer and software financing, and even real estate.

The cost of the program is very appealing to business owners in Canada. Rates are competitive, there is no prepayment penalty, and even the owner’s personal guarantee is limited to 25% of the loan. Try and get that deal under more traditional financing - we bet you will find it difficult!

Is it challenging to acquire such a loan? Not if you understand the requirements and create a streamlined process and follow documentation and application details properly and efficiently.

Speak to a trusted credible and experienced Canadian business financing advisor today on Canadian SBL financing. Bridge the gap!





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_loan_canadian_financing_sbl.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

How Canadian Government Small Business Loans Work . Is the SBL Loan For You?

Intrigued By The Government Small Business Loan?



Information on the SBL loan for Canadian business. How government small business loans work in Canada.






‘So, exactly how does it work?' If we had the proverbial nickel for every time a client asked us that question about how Canadian government small business loans work we would be .. well, you guessed it.. rich!

Because the players, the mechanics of the SBL loan are widely misunderstood it's worth taking the time to understand how this valuable Canadian business financing vehicle works.

Quite often the criticism and perceived dissatisfaction with the program relate back simply to misinformation about the mechanics of the financing.

If we had to focus in on two issues that come into play time and time again with clients its either their dissatisfaction with the timing it takes to get approved , or , even worse, the fact that they are not approved!

The Canadian government small business loan is formally known as the BIL/CSBF program, and is operated under the auspices of INDUSTRY CANADA, a federal department. Our humble opinion is that the SBL loan is in fact very well managed, but where things fall apart always comes back to clients not knowing, or understanding the very basic qualifications for the program. Winning, via an approval under the program provides you with a great method of securing long term capital for business needs such as equipment, leaseholds, computers, software, and yes... even real estate if you choose.

Not every Canadian business owner knows the cap of the program... i.e. the infamous ' how much can we get ' question! For any non real estate item the loan cap is $ 350,000.00 ( is it just us , but that’s not exactly a small amount relative to ' Small' business loan ) and if you choose to finance real estate only you can actually finance 500k , the program cap under real estate.

Once you start getting in and understanding the program you start to appreciate its true value. Why? Because it becomes readily apparent that normal traditional financing in Canada could never satisfy some of the financing needs of start up businesses, small businesses, new franchises, etc. Those 3 key business segments are by far the most popular users of the SBL loan.

From a Canadian chartered bank or commercial independent finance company it’s all about risk. So the ability to finance your business with as little risk as possible is paramount to a bank or finance firm.

That's why using government small business loans allows you to leverage your business, even if it is a start up or a franchise to 90% leverage.

Understanding of the program essentially comes back to the following point; it's simply that the government is providing a guarantee or an ' enhancement ' we could call it to your loan. So all of a sudden the bank that told you your business might be too risky is in fact able to complete your financing satisfactorily.

When it comes to our two client issues, timing and approval we can only say that if you spend some time in understanding the small handful of criteria you eliminate both of those issues nicely.

Criteria for the program couldn’t be more basic - a permanent equity injection of 10% of the financed amount (that’s the ' down payment) and clean credit history of the busines owner or owners. Other miscellaneous items are the same as any other form of traditional financing, a business plan and cash flow, some supporting background info on the owners, etc. And by the way, don't consider applying for a government guarantee if you haven’t paid or filed your taxes. That's common sense, right.

Oh, and that timing issue. If you do things right it should take a couple days, if you choose to stumble around in misinformation it will take you much longer. Fast track your loan even faster by speaking to a trusted, credible and experienced Canadian business financing advisor on the SBL 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_small_business_loan_loans.html

Understanding the SBL . The Canadian Small Business Financing Loan Is A Winning Finance Strategy

Obtain Capital Financing You Need To Grow Or Start A Canadian Business


Information on the ‘ SBL’ . The Canadian small business financing loan provides asset financing to start up and small businesses in Canada via Industry Canada.




Understanding the Canadian Small Business Financing, aka, the ' SBL ' is not as hard as Canadian business owners, start up entrepreneurs, or first time franchisees might think.

It's those three categories of business in Canada that are typically the ' prime suspects' for success financing approval under the SBL.

So are there ways to fast track and maximize success under the program. We sure think there are. It probably begins with understanding the basic benefits and attributes of the program.

A simple overview of the basics is as follows. The program is sponsored by Industry Canada, a federal department in Ottawa. That’s exactly right where you involvement with the good folks at Industry Canada ends, because as nice as they probably are they only monitor and sponsor the program. Your actual interface to approval and successful receipt of funding is via your Canadian chartered bank, which administers and funds the program under the governments guarantee to the banks.

It is of course helpful to understand what can be financed under the program , that’s where clients we talk to have received a lot of mis communication about what's eligible and what isn't. In fact only a few asset categories can be financed under the program. They include leasehold business improvements, equipment and tangible assets, real estate (rarely used under the program), and miscellaneous items such as computer application software.

While we are often amazed at why more businesses don’t use the SBL to finance real estate part of that simply might be that some of the amortizations available might not make sense in a commercial mortgage sense.

It's therefore important that you have proper asset descriptions for your Canadian small business financing loan needs, allowing you to quickly determine if they are eligible under the program. These might be in the form of quotes from vendors, invoices you have paid already for which you want reimbursement, or quotes from prospective suppliers detailing the asset, service, or price. Just makes sense, right?

It's somewhat of a little known fact that items you have paid for can be in effect re-financed under the program if they under a 6 month timeline. In certain cases an appraisal might be required, which might come into play when there is a question about asset valuation. We point out to clients that the minimal cost of such an appraisal might actually work in your favor, as the appraisal required is usually just a fair market value appraisal.

The different asset categories don’t alter your basic rates, terms and structures under the program. They are constant. Amortizations under the loan are 5-7 years, rates are just 3% over prime, and if we had to pin down one of the biggest attributes of the program it's that clients are required to fully personal guarantee the loan.

We've hopefully demonstrated that taking the time to understand the SBL itself can save you time and maximize financing ability as well as the overall timeline to get approved, which in many cases is just a matter of days .

If your banker isn't 100% up to speed on the program consider seeking and talking to a trusted, credible and experienced Canadian business financing advisor who will put you in fast track mode on the Canadian Small Business financing Loan 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/sbl_canadian_small_business_financing_loan.html