YOUR COMPANY IS LOOKING FOR THE CSBF GOVERNMENT LOAN!
BUSINESS FINANCING VIA THE CANADA SMALL BUSINESS FINANCING PROGRAM
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
The Canadian small business financing loan must sometimes feel like some sort of cover-up' when it comes to business owners /managers understanding what this financing is, how it works and understanding how to maximize the benefits of the program. Does it have to be that way? We don't think so, so let's dig in.
WHY CONSIDER THE GOVERNMENT GUARANTEED LOAN PROGRAM IN CANADA
Let's take a look also at some of the reasons Canadian business considers the ' SBL ' government loan. For the majority of businesses in Canada, it's pretty well a focus on growing and expanding the company. That often is a challenge when overall economic growth is sometimes slow. The program is available via any bank as a financial institution , or in some cases a particpating credit union. Your business revenues must be under 10 Million dollars to qualify and the loan amount can go up to 1 Million dollars in certain circumstances.
WHAT DOES THE GOVERNMENT SMALL BUSINESS LOAN FINANCE?
Financing via government business loans can be used when the desire is to add new products and or services to your current mix. These often could require new equipment or leasehold improvements, as well as real estate.
OTHER REASONS TO CONSIDER A SMALL BUSINESS LOAN
In other cases, new asses might be able to propel your business into much larger growth than it is currently attaining - that might be via new sales geographies or new vertical product or service niches.
If your business is retail oriented bank financing can often be difficult to obtain - part of the reason there is simply that banks view your company as an ' all cash ' business... so the question they ask is ' why would a cash business need credit ?".
Small business loans (they are not that small - a typical loan amt is $350,000.00 can also be used to acquire new technologies such as computers, application software, etc.
GOVERNMENT LOANS CAN BE USED TO BUY A BUSINESS
Finally, did you know that the Canada small business financing loan can be used to start a business, acquire a business, or merge with another business? Many business owners/managers view acquiring a business as a faster way to grow and expand.
CAVEAT EMPTOR? Do your due diligence on any purchase, including:
Financial condition
Growth potential
Valuation, etc!
7 Park Avenue Financial is an expert in business acquisition financing.
WHAT IS THE ROLE OF THE GOVERNMENT OF CANADA IN THE LOAN PROGRAM
The SBL loan is sponsored by INDUSTRY CANADA, part of the Canadian federal government. It's their way of ' sponsoring ' loans (they guarantee a large part of the loan to the bank) in order to accelerate growth in the SME sector.
INTEREST RATES AND TERMS AND CONDITIONS OF GOVERNMENT LOANS
Rates, fees and structures under the program are excellent - Rates are at 3% over prime, which currently is some of the lowest business financing and borrowing rates in Canadian history. Structures are typically anywhere from 2-7 years, and there is even no penalty to repay the loan which is often NOT the case in other forms of business financing in Canada. There is a registration fee attached to the program application and only due when financing is approved.
Fees associated with the program are in our opinion quite nominal, especially when the business owner considers finally being able to access the capital they need.
LET 7 PARK AVENUE FINANCIAL HELP YOU NAVIGATE THE GOVERNMENT LOAN APPLICATION / HOW TO APPLY FOR SMALL BUSINESS LOAN FUNDING
Industry Canada, aka ' the government ' does not directly provide the loans, they have chartered our banks to do that, so it’s critical to locate a banker that is familiar with and understands the small business government loan.
CONCLUSION
Financing for small business is.... a challenge ! If you're looking to have government loans ' work ' for your business or opportunity seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your financing needs. And trust us, there's no cover-up when it comes to small businesses and government loans, which, properly accessed, work. There is no better program for start-ups or franchises as an example to fund a business and grow sales for your products or services.
Click here for the business finance track record of 7 Park Avenue Financial
Stan Prokop
7 Park Avenue Financial/Copyright/2021/Rights Reserved
