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Financing & Cash flow are the biggest issues facing business today
ARE YOU UNAWARE OR DISSATISFIED WITH YOUR CURRENT BUSINESS FINANCING OPTIONS?
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7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
When it comes to various types of loans and funding, business finance sources in Canada can easily leave owners/financial managers with that feeling of a ' lot of talk and no action' relative to their particular situation. Rather than viewing this as a ' tragedy' in the making, isn’t it good to know that currently, choices for financing your business have never been better, and there are some solid reasons why! Let's dig in.
A recent (U.S.) stat indicated that banks are currently funding 2 in 5 requests for business credit related to the small and medium-sized lending space. Suffice to say that many non-bank lenders and commercial finance companies, and lease companies are approving many more transactions as a percentage of applications than that.
Bank credit, of course, is the least expensive and most flexible for those firms that qualify. Coupled with the strength and dominance of the Canadian banking space, that makes it a great place to borrow for qualified applicants that can demonstrate good balance sheets, profits, and cash flow. There's no question that the bank ' cash flow tap ' is on these days to qualified borrowers. Challenges here include finding the right banker and ensuring your firms’ company/industry needs are understood.
On many occasions, our firm has observed that many borrowers stay with their banks and low rates even at the cost of not having all the capital they need simply because of the higher cost of alternative business credit.
There exists, though, a large gap in the number of business borrowers to need an ' alternative market ' when it comes to borrowing needs. That has given rise to a very robust non-bank industry that typically provides higher borrowing costs but provides greater access to capital. Those firms provide financing in areas such as:
Receivable finance
Inventory Financing
Equipment financing/leasebacks/asset-based bridge loans
PO/Contract/Royalty type finance
Business credit lines based on business assets - ' ABL.’
Refundable tax credit financing
Franchise loans
Unsecured cash flow/mezzanine loans
Also, we often meet firms, either start-up or established already, that are unaware of the Govt Guaranteed Small business loan, which provides solid financing terms and structures for asset purchases ( new and used ) as well as leasehold improvements.
These solutions are available every day and provide millions every day in liquidity access to Canadian borrowers needing capital.
Business owners/financial managers can do a tremendous amount before borrowing heavily from traditional or alternative lenders. Staying focused on business planning, cash flow mgmt, current asset turnover ( a/r and inventory ), as well as prudently managing payables all can reduce the amount of short-term borrowing you need. The latter, i.e. managing vendors, is a tricky slope as it requires that key relationships be maintained with suppliers that are critical to your business.
All the finance solutions we have mentioned are typically shorter-term in nature - you will notice they match 'assets ' to short-term cash and loan solutions. That's a winning strategy.
If you want to change that ' all talk / no action ' feeling on Canadian business financing needs, seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you in ' tragedy free' financing solutions that make sense for you need today and in the future.
