YOUR COMPANY IS LOOKING FOR BUSINESS FINANCE!
WHAT BUSINESS LOAN SOLUTIONS SUITS YOUR FUNDING NEEDS
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
Suite 301
Oakville, Ontario
L6J 7J8
Business financing options in Canada tend to be an ' all seasons' challenge. The Canadian business owner/financial manager constantly seeks different loan options and is constantly challenged to understand who to deal with, where to go, and what makes up qualifications for any specific type of financing. By now, you've explored all options perhaps - up to and including angel investors and venture capital! Let's dig in.
MOST BUSINESSES NEED SOME FOR OF DEBT OR ASSET FINANCING
In a perfect world (by the way, it's not), commercial businesses in the B2B sector would choose to be 'all cash ' businesses. That won't happen as along with the costs of paying supplies, funding operating expenses and overhead, the reality is that some form of debt or asset monetization is required to carry inventory, receivables, purchase equipment, etc.
THE TEMPORARY CASH FLOW CRUNCH
Through those ongoing ' seasons' of a business year, there are, of course, bulge requirements and seasonality, simply adding more ' excitement' to the mix.
THE GOVERNMENT OF CANADA SMALL BUSINESS FINANCING PROGRAM
‘Loans’ is, of course, the generic word that business folks associate with financing. Those fundings come from banks, commercial finance companies, and many companies in the SME Commercial Finance need sector even the govt, via the CANADIAN GOVERNMENT GUARANTEED LOAN PROGRAM. That loan guarantees banks the majority of their principal on loan in case of a loss.
So back to our ' all seasons' approach to Canadian business financing. Typical loan needs in the business financing area include credit lines from banks or other commercial finance companies or equipment loans from those same banks or equipment lessors.
TRADITIONAL BANKING VERSUS ASSET BASED LENDING
There is currently a healthy competition between banks and other lenders who focus on various ' niches' in business finance when it comes to bank loans for businesses. As an example, one alternative to the bank line of credit is the ' ABL. ' It's a working capital revolving line of credit that is based on the total value of your receivables, inventory and equipment. It costs more, but 99% of the time gives you more and is much easier to access if your firm can't meet bank qualifications.
When it comes to banks, small business owners must demonstrate good personal credit history and a credit score. As a financial institution, banks place a fair amount of emphasis on that type of background information. Credit unions that are business-oriented and provide loans in Canada to businesses also fall into that category.
In determining your financing options, a business plan, in any case, is required. If not formally required, they always will help move your financing requirements forward in a positive manner. 7 Park Avenue Financial business plans meet and exceed bank and commercial lender requirements. Even established businesses with well-known products or services can benefit from such documents and help you get traction in the application process.
LET 7 PARK AVENUE FINANCIAL SHOW YOU THESE CANADIAN BUSINESS FINANCING OPTIONS
You not only need to be comfortable in assessing your options; you must ensure you have a basic sense of some key aspects of any specific type of business financing. Typical forms of business financing include:
Receivables financing / factoring / confidential receivable funding
Inventory Finance
Working capital term loans
Equipment Leasing
Tax Credit Monetization (primarily 'SR&ED ')
Asset-based non-bank credit lines
Purchase Order / Contract Financing
Cash Flow/ Mezzanine Financing
WHAT ARE KEY ISSUES TO ADDRESS IN BUSINESS FINANCING
What issues need to be addressed in any of those options for our ' all season ' approach to small businesses via loans/asset monetization? They include:
Term/amortization
Interest rates and fees
Collateral availability/quality
Owner equity issues
Personal guarantee emphasis
CONCLUSION
Suppose you're focused on capitalizing on the best form of financing for small business loans for your company during any season! Consider seeking out and speaking to 7 Park Avenue Financial; a trusted, credible and experienced Canadian business financing advisor who can help you assess your options.
Click here for the business finance track record of 7 Park Avenue Financial.
Stan Prokop
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