YOUR COMPANY IS LOOKING FOR BUSINESS FINANCE SOLUTIONS!
YOUR SEARCH FOR LOANS IN CANADA IS OVER!
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
Canadian business financing has changed. As we learned in the classic Wizard of OZ MOVIE, what you expect in one world might not necessarily be the case. Sorry about that, Dorothy!
DO YOU HAVE A FLIGHT PLAN FOR YOUR BUSINESS FINANCING NEEDS?
Simple as that. So whether it’s ' the banks ‘ or commercial finance companies in Canada, you need a 'flight plan ' of sorts, more than ever, for the financial challenges your company faces in the Canadian economy, whether we are talking about new businesses or established firms. Let's dig in.
Most business owners and financial managers recognize that the access to the financing they need is very much dependent on the current state of the credit markets, economy, etc. As an owner/manager of a business, you keep hearing about all the ' capital ' out there; it just doesn't seem to be anywhere close to you!
THE WORLD OF EXTERNAL CAPITAL
When accessing credit through banks or finance companies in Canada, it’s all about terms, rates and structures that suit your specific business. That then needs to be broken down into the right delivery - from either a Canadian chartered bank, a commercial finance company or an asset-based lender. In a small amount of cases, equity financing from VCs, PEG's ( private equity groups ) etc.
By the way, probably only one of every 500 or so firms is actually a candidate for equity-type financing in Canada, so valuable time is often wasted pursuing this route; however, if you're one of those 500, Congrats!
WHAT STAGE OF LIFE IS YOUR BUSINESS IN - THAT WILL DEFINE YOUR FUNDING NEEDS
So how do you know which funding alternative makes the best sense for your firm? It's important to realize what ' stage ' your company is in, ranging from pre-revenue start-ups to mature growing companies with established products or services.In the middle of all the SME COMMERCIAL area - the latter probably being the largest sector.
FOCUS ON USE OF FUNDS
The use of funds is important in consideration of financing. That might be all the way from acquiring another business to acquiring new assets, monetizing cash flow, etc.
There is a very basic ' flight plan ' you probably should follow in seeking financing. That includes being prepared for the right timelines, as it ALWAYS takes longer than you think, so starting early is important. Knowing your competition is financed is also helpful as certain industries qualify much better for certain types of financing.
BREAKING DOWN DEBT FINANCING VERSUS CASH FLOW FINANCE
As we focus on non-equity type options, it's important to know what debt financing makes sense, how it works, and what asset monetization strategies cost.
HERE IS A LIST OF CANADIAN BUSINESS FINANCING SOLUTIONS VIA 7 PARK AVENUE FINANCIAL - WHICH ONE WORKS FOR YOUR BUSINESS
So what, in fact, are those potential sources of financing from banks or commercial finance firms? They include:
A/R Financing
Inventory Loans
Access to Canadian bank credit/term loan / revolving line of credit
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/ Merchant Advance
Securitization
Don't forget to also look into the Canada Small Business Financing Program - These government small business loans come with flexible terms and conditions around repayment and personal guarantees, as well as competitive interest rates. That interest rate is benchmarked against the bank prime rate and although it is not a working capital loan or line of credit solution it does allow you to conserve working capital for your day-to-day funding needs as you sell products and services.
CONCLUSION
A small business loan is available from both traditional and alternative lenders. Small businesses should have choices when it comes to funding growth in their products and services. Government loans are term loans and can cover a substantial amount of your asset-based needs, as well as financed leasehold improvements and real estate. Seek out and speak to 7 Park Avenue Financial, a trusted, credible and experienced Canadian business financing advisor who can assist you in matching and sourcing the right amount of financing for your company.
Traditional financial institutions such as chartered banks and some credit unions ( a business-focused credit union) have access to the program for a loan amount of up to 350k, and in some cases, 1 million dollars if real estate financing is required. A business plan is required as a part of your application - 7 Park Avenue Financial business plans meet and exceed bank and commercial lender requirements.
Click here for the business finance track record of 7 Park Avenue Financial
Stan Prokop
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