Tax Credit Financing In Canada : Investigating SRED Finance Loans

The Art Of Making Waiting Go Away Via SR&ED Tax Credit Financing In Canada

OVERVIEW – Information on tax credit financing in Canada for the SR&ED program . SRED finance loans maximize and cash flow the benefits of a SR ED claim – here is why and how

Tax credit financing in Canada SRED finance loans is all about making ' waiting' go away. There's really only one reason to finance a SR&ED tax credit, and that’s to utilize the cash today that you ordinarily would wait much longer for.

Let's dig in.

There is a basic structure around the whole SR&ED credit process, and the majority of that evolves into the basics of financing your claim. It goes without saying that new claimants (many companies file successful refundable tax credits under the SRED program every year) want to ensure they are eligible to file.

There's a time and cost investment to file a claim that maximizes your refund, so eligibility is key. Recently the govt instituted a ' pre claim ' process allowing businesses to get a comfortable sense they qualify. By the way, top experts tell us that only about 1/3 of claims eligible are in fact filed! Information technology projects are a huge part of SRED - a lot of software development is funded under the program - and therefore financeable.

The vast majority of companies engage ' SR&ED Consultants ' to prepare claims, which are then filed in conjunction with your corporate tax return. ( By the way , although most firms tend to finance their ' refundable credits' after they file them recent trends in financing innovation and creativity allow you to fund your claim prior to filing - or , at the opposite end of the spectrum - you can start to fund next years claim .. today!

When it comes to preparation of the claims that's where the expertise of the consultant you utilize helps to maximize the total refund - based on formulas under the program for allowable expenses of applicable salaries, contractor fees, materials, use of your premises, etc. Naturally the larger claim = more financing available!

Going ' solo ' in business is never a good feeling as it sometimes denotes risk - but the reality of tax credit financing is that you're in good company with the 20,000 or so firms that file r&d expenses annually - receiving close to 4 Billion dollars or more in cash refunds . As we said, you should only finance your refund if you require business funds - and who doesn't?

Remember also that many businesses filing SR&ED claims are start ups or early stage revenue firms - you still get a cash refund if you arent generating profits in your business.

When it comes to the financing of a SR&ED credit the documentation couldn’t be more simple - a copy of the claim, info on who prepared it , some basic data on your firm, and any recent financial statements, forecasts, etc .

Claims are typically financed at 70% loan to value and the uniqueness of financing a refundable tax credit allows the transaction to be structured as a ' bridge loan ' with no payments. The transaction is closed off when the govt confirms and funds the claim, therefore closing out the loan. Bottom line - you only pay to finance funds for a short period of time.

If you're interested in specializing in the ' art of making waiting go away' consider seeking out and speaking to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you with investigating SRED finance loans.





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 :


http://www.7parkavenuefinancial.com/sred-finance-loans-tax-credit-financing.html


Have A Question /Comment On Our Blog Or Canadian Business Financing Alternatives ?
CONTACT:

7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8

Direct Line = 416 319 5769

Office = 905 829 2653



Email = sprokop@7parkavenuefinancial.com


' Canadian Business Financing With The Intelligent Use Of Experience '

Stan Prokop

Government Business Financing In Canada : Canadian Govt Loans Deliver

Unboxing government SBL Small Business loans in Canada

OVERVIEW – Information on government business financing in Canada. How Canadian govt guaranteed business loans solve financing challenges

Government business financing in Canada - While many entrepreneurs have heard of Canadian govt loans they have not fully understood his business finance offering. Let's ' unbox ' the program and discuss the merits and applicability of this loan to your business - and that applies to start ups, franchises... in fact any business tha is under the pre-requisite 5 Million in revenues. Let's dig in

Established by the federal gov't many years ago the Small Business Financing program is dedicated to helping new , young, and growing businesses access the financing they might otherwise not receive.

The uniqueness of loan is that the majority of the loan is ' guaranteed' to Canadian banks which offer the financing. At the end of the day it's the govt commitment to encourage Canadian banks to lend to new and smaller businesses. Naturally one of he benefits to the government is the overall economic stimulus in employment, taxes, etc.

In recent years upwards of 7000++ businesses access the loan annually - for billions of dollars. The accessibility of the loan is augmented by the fact that Canadian ' bricks and mortar' branches are on every main street in Canada. (Truth be told the challenge is not finding the right bank, it's finding the right banker).

The ability to get approved for a govt small business loan in Canada provides realistic access to capital for businesses who otherwise cannot qualify for ' traditional ' loans. Yet the actual offering of the program is just that - a traditional term loan at attractive rates, great amortizations, and even the ability to pre-pay without penalty.

Many businesses who utilize the loan are either new, or in some cases purchases of businesses, including the very popular ' franchise ' segment.

The requirements of the loan are pretty basic - the owner must have reasonable good personal credit history, and must be able to contribute a minimum of 10% or more of permanent capital to the financing in question. The loan can only be used to finance 3 separate asset categories - equipment, leasehold improvements, and real estate. (The latter, real estate is rarely used in our experience as commercial mtges are more suited to this type of finance need).

As important to understand what the loan does to is what it doesn't offer. You cannot use proceeds to refinance existing loans or for working capital/line of credit needs.

Other key aspects of getting approved include a good business plan, a cash flow forecast, and basic info on your business location, previous business experience, etc.

If you're looking to ' unbox ' government business financing in Canada seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist in making Canadian govt loans a realistic part of your new or existing business venture.



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 GOVERNMENT 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



Email = sprokop@7parkavenuefinancial.com


' Canadian Business Financing With The Intelligent Use Of Experience '

Stan Prokop

Business Line Of Credit Lenders In Canada: What You Might Not Know About Funding Options

Looking For A Detour To The Right Business Lines Of Credit In Canada ?

OVERVIEW – Information on business line of credit lenders in Canada. Funding A/R and Inventory can be accomplished in more ways than you think

Business line of credit lenders offer one of the most valuable types of funding required by all types of businesses in Canada. It allows a business to in effect monetize sales via the financing of receivables, inventory... or both. Let's dig in.

When financed properly these credit lines allow a business to sell more of their product and or services - Revenue, and the resulting receivables and inventory are converted into the business life blood - cash flow.

The type of facility that your firm is eligible for is ultimately decided by the ' risk profile ' of your business That same ' risk profile ' will determine the sort of security your lender ( a bank - or a commercial finance company ) requires, and, as importantly, how they will manage the facility .

The business owner/manager should realize that there are different varieties of the commercial credit line facility. As an example more and more firms are turning to ' ASSET BASED LENDING ' as an alternative to the Canadian chartered bank revolving credit facility. One of the interesting features of this facility is that more assets (for example equipment or real estate - if applicable) can be a part of the leveraging of your assets for cash flow and working capital.

We'll add that even the banking community caught onto this one, and many of our major banks have specialized Asset based lending businesses - although some debate how different they in fact really are from a standard bank offering.

From the bank perspective it's of course all about risk, and that demands their ability to ensure requirements met for a credit line include profits, cash flow, clean balance sheets, and personal commitment of owners - aka the dreaded ' personal guarantee ' .

Banks, as opposed to the opposite lender can often be much more lax in monitoring current assets. The opposite side of the coin is the asset based lender - they tend to lend more, and can actually handle your firm having adverse issues (financial losses / weaker balance sheets, etc) because they focus heavily on more regular reporting.

Many commercial finance firms compete with the banks for what we call ' subsets ' of the bank credit facility. That might be A/R financing, or inventory financing, or equipment bridge loans. They do this by more closely monitoring and controlling cash receipts.

Traditional bank financing typically provides funding for mostly A/R and inventory. This is done by monthly borrowing bases that are established based on the value of those two ' current assets ' on the balance sheet.

Often the type of working capital/cash flow finance your business needs is determined by factors such as seasonality, bulges in sales revenue and their timing recognition, or simply the general ' operating cycle ' of the business - with different industries having different cycles and peculiarities.

In a perfect world (is there one?) solutions from business line of credit lenders (banks/commercial finance co's) will allow your company to convert sales into cash - allowing the facility to revolve.

In some cases a permanent working capital term loan might also solve a problem - it simply depends. These loans are repaid from predictable cash flows.

If you're looking for a ' detour ' in the business fork in the road for the right type of business credit line seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you with funding options that both make sense.. and are attainable.



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 BUSINESS CREDIT LINE 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



Email = sprokop@7parkavenuefinancial.com


' Canadian Business Financing With The Intelligent Use Of Experience '

Stan Prokop

Confidential Receivables Invoice Finance Factoring Funding

A Realistic Receivable Financing Fix : No Scotch Tape Required

OVERVIEW – Information on confidential receivables invoice finance factoring in Canada . Why is this method of cash flow funding the ‘f ix ‘ your company is looking for

Confidential receivables invoice finance factoring and funding is one of the new ' hidden weapons ‘for a dependable sources of financing in Canada - specifically for working capital. This type of facility mirrors most closely a bank credit line - no scotch tape required! It's a real fix for a cash flow solution. Let's dig in.

Is there one key requirement for this type of business credit line? Yes there is... its ' SALES'!

A/R Finance is really what we could call a ' sub set ' of asset based lending. It can be achieved on its own, or, if your business merits it, can also include inventory and equipment under the same facility. But that's a discussion for another day -we're focusing on Receivables funding specifically.

Invoice financing might seem confusing to many business owners and financial managers - but in reality it’s really how the paperwork is handled - that's all. The concept is simple - instead of ' borrowing' against your A/R (as in a true Canadian chartered bank facility) the factoring paperwork designates that you're selling your receivables and receiving cash flow them. That's really the main difference, or ' optics’ behind this type of borrowing.

How then does ' confidential ' invoice financing work relative to the traditional factoring offered by most mainstream commercial finance firms? Here again it’s ' optics ' - as the main benefit of confidential receivables finance is that it's... you guessed it... CONFIDENTIAL!

The bottom line on that one - your company bills and collects it's own client accounts owing - while at the same time achieving the benefit of instant cash flow on those sales . Naturally how much you want to finance or draw down on at any time is your option - you are only paying for what you borrow.

Many firms might not really care that a traditional mainstream invoice finance firm will insist on notifying your clients that they are financing your accounts. If the business owner/ financial manager are not concerned by this type of ' notification' to clients they can also benefit that the factoring firm being very closely involved in credit approvals and credit lines for specific clients.

The bottom line is that Confidential Receivables Invoice Finance Factoring and Funding works best for firms that want to ensure they are perceived by their clients and suppliers as self financing. Our own experience is that if your client base is government or larger well known accounts the owner/manager is very concerned about the perceptions around their firm’s financial stability.

Oh by the way, there's no real extra cost for Non notification financing - which is another benefit to choosing this method of cash flow financing. If you're looking for a permanent fix - i.e. no scotch tape required! in A/R finance seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success




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 A/R FINANCING 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



Email = sprokop@7parkavenuefinancial.com


' Canadian Business Financing With The Intelligent Use Of Experience '

Stan Prokop

Finance Lease Companies In Canada : Experience The Benefits Of Leasing Company Offerings

Let Business Equipment Leases Be Your Success Story In Asset Acquisition Needs

OVERVIEW – Information on finance lease companies in Canada . How does the leasing company offering give your firm the asset acquisition edge

Leasing company solutions can be the true ' success story ' of any business that requires assets and technology. But does the business owner/financial manager really understand how to maximize benefits achieved from this method of asset financing? Let's dig in.

Over the years the lease finance industry has gravitated to financing every type of asset - they call that from ' micro ticket ' to ' large ticket ' which can be an office photo copy machine for 2k or a corporate aircraft for 20M$.

The borrower, aka ' the lessee ' must know the differences of applying for and getting approved for different asset categories. Owners/managers can also waste a lot of shoe tread in dealing with the wrong firm when it comes to your company's credit quality, geographical location, etc.

When it comes to the small ticket market (people disagree on the exact maximum deal size within this market segment) a large part of the financial approval is often based on the personal credit history and guarantees of owners. If your company doesn't have a truly very strong profile (strong = growing sales, growing profits, growing cash flow, acceptable debt levels) it can almost be 'guaranteed' that personal guarantees will be requested.

The one thing we want to mention about guarantees is that owners/managers who can present their company financials properly can often have some 'wiggle room ' in the personal guarantee conundrum. That might mean a ' partial guarantee ' or a ' declining balance' guarantee. In some cases it might make sense to negotiate the type of ' covenants ' that are often related to bank loans - i.e. debt to equity / working capital ratios.

Old school

credit granting is not quite dead yet also, so traditional criteria such as years in business, usefulness of the asset being financing relative to revenue / profit generation, and commercial credit references also can play a large part in the overall approval process. If there is one good thing happening in financing approvals is that timelines these days are close to instantaneous in the small / mid market - typically same day or 48 hrs max.

We've always maintained that clients focus far too much on rate, if only for the reason that that finance lease companies are in a highly competitive environment - ultimately your firm’s credit quality will always drive the lowest rate in a competitive environment. Owners/managers would be cautioned to spend more time on areas such as terms of the lease, renewals, buyout options, and down payments or security deposits that might on occasion be required.

While we're talking in the main about ' lease financing ' remember also that term loans for equipment might ultimately make as much sense for your financing needs - Also assets already owned can be refinancing under creative sale leaseback or bridge loan scenarios.

Larger transactions for any leasing company will receive a lot more credit diligence when it comes to financial statement analysis, cash flow reviews, and consideration for nuances in the particular industry your firm might be in. Unfortunately some industries temporarily find themselves ' out of favor '.

We can't over emphasize the need for time spent on documents - that might be a ' Master lease ' scenario, or the rights and obligations you have under and operating lease. The ability to ' add on' to any current lease transaction is typically always available.

Amortization terms for finance lease companies tend to range from 2-7 years, in truth the majority of transactions are on a 3-5 year term which makes sense for a large category of different asset types.

What then are the most touted, and real... benefits of equipment finance – they include :

Ability to access other credit facilities other than current borrowings

Rates

Ability to finance 100% of any asset acquisition


If you're looking to maximize on the benefits of a leasing company solution seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you with your asset finance needs.




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 EQUIPMENT LEASE FINANCING 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



Email = sprokop@7parkavenuefinancial.com


' Canadian Business Financing With The Intelligent Use Of Experience '

Stan Prokop

Financing A Business In Canada : Growth Capital Funding

Stalking Growth Capital In Canada For Your Funding & Business Finance Needs

OVERVIEW – Information on properly financing a business in Canada . Growth Capital and funding solutions might be closer than you think

Financing a business in Canada can sometimes make the entrepreneur / business owner / manager feel like they are ' stalking ' (without the creepy connotations!). How can that experience be turned into a positive one given the challenges and often stress of searching for growth capital or operating finance solutions? Let's dig in.

It's a given that any lender (whether that be traditional banks or commercial finance companies/alternative financiers) will want to ensure the odds of success in your company are positive. That requires the owner/manager/entrepreneur to ensure that certain aspects of the business be presented in a clear fashion.

Along with the often prepared sales forecasts must come the often forgotten cash flow forecast, financial statement presentation! It also helps to position your company in the best light when it comes to knowing your competition or industry stats.

How you intend to grow , and by how much is as important- as that often will direct you to the type of financing you need - that might be term loans, operating lines of credit, lease financing, or asset monetization.

The advantages of selecting the right funding are clear - it allows you to achieve your growth expectations in a more quick and realistic manner. If your business is somewhat, or a lot, capital intensive the financing associated with those capital needs must be addressed early on. Naturally the financing needed might be ' operating' in nature (salaries, rent, insurance, etc) or our previously mentioned ' capital ‘in nature. (Technology, plant equipment, software, real estate, etc)

Because Canadian banks tend to be ' cash flow ' lenders any firm in start up or early stage will find it very difficult to attract capital they need in our previously mentioned categories. In many cases that's where ' Alternative ' non bank financing comes in. This financing includes:

Receivables Finance

Inventory financing

Sale leasebacks/ bridge loans

Monetization of SR&ED Tax credits for research funds recovery

Asset based non bank operating lines of credit

Sales/Royalty financing

PO Financing

A great example of a ' hybrid’ traditional/alternative finance solution is the Canada Govt Guaranteed Small Business Loan which can provide up to 350,000.00 of financing for start ups and young businesses with less than 5 Million dollars in revenue or projected sales.

Unfortunately the inexperienced in their ' stalking ' for business finance solutions can do serious damage to their businesses. That might mean taking on too much debt, the wrong debt for the need - impacting the balance sheet in a way that cannot be undone without harm.

Business owners often forget to ensure that business life is separated from their personal financial history - so all efforts should be expended to ensure only a minimum amount of personal collateral is pledged to the business lender - bank or otherwise .


Financing needs can often be quantified by some simple planning - along the lines of understanding your needs, knowing you can fulfill them ( traditional/alternative ) and ensuring you have assets or a financial package that highlights repayment .

If you're looking for assistance and some ' stalking ' help in addressing the right financing for your needs seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your growth capital and funding 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 :

7 PARK AVENUE FINANCIAL = CANADIAN BUSINESS FINANCING AND GROWTH CAPITAL 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



Email = sprokop@7parkavenuefinancial.com


' Canadian Business Financing With The Intelligent Use Of Experience '

Stan Prokop

Alternative Financing In Canada : Cashing In On SME Commercial Finance Solutions

Alternative Financing Is Not The Wild West Anymore – Here’s Why & How SME Commercial Finance Solutions Work

OVERVIEW – Information on alternative financing solutions in Canada . SME finance needs are often not being able to be fully met by traditional banking solutions

Alternative financing in Canada may seem to some like a bit of the ' wild west ‘, but the reality is that SME finance has dramatically changed the landscape of the commercial loan market in Canada . What are some of these solutions, what do they cost, and how do they work? Let's dig in.

Commercial finance firms and alternative financiers are for the most part unregulated businesses. While that might seem to some as that ' wild west connotation the reality is that they simply arent subject to a lot of the reporting and lending rules that Canadian chartered banks are subject to .

These firms are also perceived as more ' nimble ' and the bottom line is that they are more willing and likely to lend to businesses (and in a much speedier fashion!) - The trade off is usually a higher cost of borrowing. In essence it's a question of ' access' to capital, not ' cost' of capital.

Though borrowing rates are still at historic lows in Canada there's no mad rush by traditional lending institutions to finance firms that are in start up mode, or experiencing ' challenges '.

We think the real trick of understanding the world of alternative finance solutions (a/r financing, inventory finance, tax credit financing, sale leasebacks, equipment financing, po /contract finance / asset based lines of credit, sales royalty financing, merchant advances) is really all about how to manage the cost and debt and ensure these financing mechanisms are used properly to generate cash flow and profits.

Some top experts in the U.S. have actually termed these alternative finance firms as ' shadow banks ‘. Whatever one calls them they certainly deliver capital quickly.

Alternative finance solutions in the SME sector almost always work best when they are funding sales and assets. Being able to monetize those to aspects of a business is really the key to working capital solutions.

A/R Financing is probably one of the clearest ways to explain the alternative lending solution in Canada. As businesses generate sales it's a pure reality that commercial business customers will not pay your firm for anywhere from 30-90 days.

The ability to cash flow this liquid asset (receivables) within 24 hrs and use the capital to pay suppliers, purchase inventory, thereby selling more is a great use of capital. Picking the right A/R financing solution (we recommend CONFIDENTIAL A/R FINANCE) allows the business to bill and collect its own receivables, mirroring the exact way in which a traditional bank credit line would run.

If you're focused on ' cashing in' on new business financing alternatives seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you with your borrowing needs .




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 ALTERNATIVE FINANCING SOLUTIONS


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