YOUR COMPANY IS LOOKING FOR FINANCE ALTERNATIVES!
ALTERNATIVE LOANS AND FINANCING OPTIONS FOR THE SMB IN CANADA
You've arrived at the right address! Welcome to 7 Park Avenue Financial
Financing & Cash flow are the biggest issues facing business today
ARE YOU UNAWARE OR DISSATISFIED WITH YOUR CURRENT BUSINESS FINANCING OPTIONS?
CALL NOW - DIRECT LINE - 416 319 5769 - Let's talk or arrange a meeting to discuss your needs
EMAIL - sprokop@7parkavenuefinancial.com
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Oakville, Ontario
L6J 7J8
Finance alternatives in Canada often require the Canadian business owner/financial manager to take the ' middle ground. Traditional finance solutions are, unfortunately, not available to everyone - that means business alternative lending of some type must often be considered, hence the 'middle ground'... so let's dig in.
WHAT DOES YOUR BUSINESS NEED - DEBT SOLUTIONS OR OPERATING CAPITAL?
It really comes down to how you look at the issue - one expert suggests that it's not a ' one size fits all' scenario when it comes to bringing in either debt or operating capital to your business.. That's of course how a business is financed - bringing new debt to the balance sheet or financing assets you already have, in effect monetizing them for working capital.
UNDERSTANDING BUSINESS FUNDING OPTIONS
So it's obvious that a better way to look at it is to ensure you have considered all the options under various scenarios, it is not a question of simply thinking you are somewhat forced into a particular finance solution when considering funding the business
DOES A GOVERNMENT LOAN MAKE SENSE
A good example might be considering a Government small business loan, aka 'SBL loan' for the addition of assets or leaseholds to your business, or even to start a business from scratch, including a franchise operation of some sort. While a Canadian chartered bank on its own might refuse to consider such financings in your circumstances you might be pleasantly surprised that they will finance your project under the auspices of the SBL loan - this is a term loan and like other traditional bank loans rates can be fixed or variable. The Canada Small business financing program might , bar none be the best financing for entrepreneurs.
ALTERNATIVE LENDING SOLUTIONS ARE MORE FLEXIBLE AND TAKE LESS TIME! BUSINESS LOANS FOR STARTUPS
Many clients we talk to are often happy to consider business alternative lending if only to save time and management focus given that traditional bank loan type solutions might take many weeks or months to finalize. Trust us, ' it’s a process'! Financing for startups is a major challenge for entrepreneurs - Alternative lender solutions provides numerous solutions for financing startups.
CAN YOUR FIRM MEET BANK LENDING REQUIREMENTS?
You should of course consider all financing options, which might well include a bank financing of some sort.- just be forewarned that the financial history of your business, your length of time in business, and your cash flows and profits will come under scrutiny. All of those must align.
THE COST OF ALTERNATIVE FINANCING
While business alternative lending sources might have a lower threshold level of criteria they typically, therefore, have higher rates - not all the time but 99% of the time. We feel that the best way to look at that situation is to ensure you are viewing alternative finance as a short term solution, typically a year or so. That allows your business to get all the capital it needs but not lock your business into a situation you cannot get out of. Any type of line of credit, traditional or alternative, is of value to any business for day to day funding needs.
CANADIAN BUSINESS FINANCING SOLUTIONS / SMALL BUSINESS FINANCING SOLUTIONS FROM ALTERNATIVE LENDERS
And what are those alternate finance sources? You’d be surprised at the number of choices - They include:
A/R Financing / Invoice financing / Invoice factoring
Inventory Loans
WORKING CAPITAL TERM LOANS / SHORT TERM LOANS
Non bank asset based lines of credit
SR&ED Tax credit financing
Equipment / fixed asset financing
Cash flow loans
Royalty finance solutions
Purchase Order Financing
Short Term Working Capital Loans / Peer Lending / Merchant Cash Advances / Business credit card - Good personal credit score required - higher interest rates but very fast and flexible financing tailored to your business needs and are based primarily on annual revenue
Securitization
The type of financing you acquire will be a combination of the amount of money your firm needs and overall credit quality commensurate with funding options available - In some cases, it is extremely valuable, if not required to have a business plan available. 7 Park Avenue Financial business plans meet and exceed bank and commercial lender requirements.
CONCLUSION
Alternative small business loans and financing options for small businesses/ small business owners are a potential key to long term business viability in today's turbulent times, pandemics included! If you want to be able to assess the ‘ middle ground ‘ in Canadian business financing seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you in ensuring you’re not left behind in finance solutions for your company.
Click here for the business finance track record of 7 Park Avenue Financial and info on alternative financing options for your business
Stan Prokop
7 Park Avenue Financial/Copyright/2021/Rights Reserved
