YOUR COMPANY IS LOOKING FOR HELP IN FINANCING A BUSINESS!
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
Financing a business in Canada can sometimes make the entrepreneur/business owner/manager feel like ' stalking ' (without the creepy connotations!). How can that experience be turned into a positive one, given the challenges and often the stress of searching for growth capital or operating finance solutions? Let's dig in.
THE IMPORTANT OF PRESENTING YOUR COMPANY CLEARLY
It's a given that any lender (whether that be traditional banks or commercial finance companies/alternative financiers) will want to ensure the odds of success in your company are positive. That requires the owner/manager/entrepreneur to ensure that certain business aspects are presented clearly.
FOCUS ON GOOD CASH PROJECTIONS RELATIVE TO YOUR SALES FORECASTS
The often prepared sales forecasts must come from the often forgotten cash flow forecast, financial statement presentation! It also helps to position your company in the best light when knowing your competition or industry stats and make sure you are more eligible for funding.
YOUR GROWTH PLANS WILL DICTATE FINANCING NEEDS
How you intend to grow and how much is as important- as that often will direct you to the type of financing you need - that might be term loans, operating lines of credit, lease financing, or asset monetization. Note also that high growth comes with constant financing challenges as you require further investments in current assets such as accounts receivable, inventory, human capital, r&d etc.
WHAT ARE THE ADVANTAGES OF GOOD GROWTH FUNDING
The advantages of selecting the right funding are clear - it allows you to achieve your growth expectations more quickly and realistically. If your business is somewhat, or a lot, capital intensive, the financing associated with those capital needs must be addressed early on. Naturally, the financing needed might be ' operating' in nature (salaries, rent, insurance, etc.) or our previously mentioned ' capital ‘in nature. (Technology, plant equipment, software, real estate, etc.)
CANADIAN BUSINESS FINANCING SOLUTIONS
Because Canadian banks tend to be ' cash flow ' lenders, any firm in start-up or early-stage will find it very difficult to attract capital they need in our previously mentioned categories. It might be a surprise to many, but traditional banking does not necessarily like high growth/explosive growth stories!In many cases, that's where ' Alternative ' non-bank financing comes in.
This financing includes:
A/R Financing
Inventory Finance
Working Capital Term Loans
Tax Credit Monetization Financing
Government Guaranteed Business Loans
PO/Contract financing
Sales royalty financing
Asset-based business credit lines - revolving facilities that allow you to borrow against receivables, inventory and equipment
Equipment Leasing/ Sale Leasebacks - long term financing of assets
A great example of a ' hybrid’ traditional/alternative finance solution is the Canada Government Guaranteed Small Business Loan which can provide up to 350,000.00 financing for start-ups and young businesses with less than 10 Million dollars in revenue projected sales. The ' sbl loan ' is arguably the best small business loan for start-ups, early-stage firms, buying a franchise, etc.
THE IMPORTANCE OF BALANCE DEBT, EQUITY, AND CASH FLOW SOLUTIONS
Unfortunately, the inexperienced in their ' stalking ' for business finance solutions can do serious damage to their businesses. That might mean taking on too much debt, the wrong debt for the need - impacting the balance sheet in a way that cannot be undone without harm.
SEPARATING BUSINESS LIFE WITH PERSONAL LIFE IS KEY
Business owners often forget to ensure that business life is separated from their personal financial history - so all efforts should be expended to ensure only a minimum amount of personal collateral is pledged to the business lender - bank or otherwise.
Financing needs can often be quantified by some simple planning - along the lines of understanding your needs, knowing you can fulfill them ( traditional/alternative ) and ensuring you have assets or a financial package that highlights repayment. A solid business plan is a must in most growth finance aspects - 7 Park Avenue Financial business plan meets and exceeds bank and commercial lender requirements.
CONCLUSION
If you're looking for assistance and some ' stalking ' help address the right financing for your needs, seek out and speak to 7 Park Avenue Financial, a trusted, credible and experienced Canadian business financing advisor who can assist you with your growth capital and funding requirements.
Click here for the business finance track record of 7 Park Avenue Financial
Stan Prokop
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