Repeat The Benefits SBL Loan Financing Today
Information on the Canadian small business government loan program. Why ‘ SBL ‘ guaranteed funding is right for your firm .
Ever wondered how your company never managed to hear about the Canadian small business government loan program? The everyday term for this financing is the ' SBL ' - the ' small business loan that’s guaranteed by the government of Canada. And another thing is it really ' small'? Everything’s relative, but we certainly don't think so, and here’s why!
Industry Canada is the sponsor and governing body of the Canadian government with responsibility for the SBL loan program in Canada. As government folks are wanted to do, they have a couple more formal names for the program, it’s called by them the ' BIL ‘, or ' CSBF' program. Whats our point with all these acronyms? I guess you could say ' call me anything, but call me!"
The SBL loan provides financial assistances to thousands (almost 7500 loans were done in Canada in 2010) of Canadian small businesses. And lets get the word ' Small ' out of the way quickly, the program actually goes to $ 500,00.00 if you want to use it for real estate, in the majority of cases the program caps out at 350,00.00$ . Is that 350k small to your firm ?We've never felt a 350k financing is small, but as always, we'll let you decide, we just clarify and educate !
So whats the eligibility of the program? There are some really basic criteria for SBL guaranteed financing. Your firm can be a start up, or already established. Your actual or projected revenues have to be under 5,000,000.00 per annum.
Although 7500 business took advantage of the program last year can you imagine how many companies like yours there are in Canada with revenues fewer than 5 Million dollars? We can only imagine why the thousands of other eligible firms aren’t taking advantage of this financing. Is it perhaps because they haven’t heard about the program - well they can’t say that now.
Small business government loan financing is great for start up and growing small businesses in Canada. The government guarantees the loan to a significant portion, which is why thousands of businesses utilize this financing when they can get traditional Canadian chartered bank financing in Canada.
Borrowing for the program is focused on equipment, leaseholds and real estate. Software is also covered under the category of equipment.
Other great benefits of the program are that you as a business owner do not have to personally guarantee all of the loan, which in many, if not all! other Canadian business financing is a requirement. Oh, and by the way, rates, terms and structure for the loan, including no penalty for prepayment are additional great reasons to consider this type of financing in Canada.
Want to fast track your SBL small business government loan? Speak to a credible, experienced and trusted Canadian business financing advisor on how you can fast track an SBL financing for your firm.
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/small_business_government_loan_sbl_guaranteed.html
