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Financing & Cash flow are the biggest issues facing business today
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7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Direct Line = 416 319 5769
Office = 905 829 2653
Email = email@example.com
An asset based business credit line is one solution to what many business owners / financial managers tell us is their 'mountain of pain' when it comes to revolving credit facilities that make sense for their company. ‘ABL ' asset based lending is the one alternative to achieving a working capital line that makes sense. Let's dig in.
There are subsets of asset based credit that also work for many businesses in Canada. The primary one is invoice financing, which focuses specifically on accounts receivable, and unlike ABL, does not take into account borrowing against your inventory, equipment, and other assets. While invoice factoring works for thousands of firms it falls down when the business owner/manager finds that way of financing the business as too inflexible.
Getting into the wrong facility can become either too expensive or in some cases cumbersome. If there's one primary reason businesses shy away from invoice financing it’s because they don't want the financing to have any involvement with customers, suppliers, etc.
We can commiserate with these clients because the ability to keep how you finance your company private is probably how you want to run your business. If there is one other perception of invoice financing on its own it’s that many firms simply don't understand what it does and, as importantly, how it works and how it is priced.
How are commercial finance firms offering ABL credit able to compete with banks? Top experts tell us that the ' risk spread ' on banks lending to smaller firms is less attractive than lending to large commercial borrowers.
Asset based lenders fill the void that exists when small to medium sized businesses find they are unable to secure ' traditional' loans.
So that brings us around to the ASSET BASED BUSINESS LINE OF CREDIT, which finances your a/r, inventory, and equipment under one revolving credit facility . In many ways is the perfect alternative to ' credit hungry ' Canadian business.
Top experts tell us that thousands of firms are now fully utilizing asset based lending facilities - primarily in the start up and SME Commercial market place, while many would also be surprised at major corporations that utilize this type of business borrowing.
This ' bundling ' of your assets into one borrowing facility provides liquidity and borrowing power that is more often than not 100-200% more than you could achieve at a bank facility. It is also well suited to Canadian businesses that sell into the U.S. as no real distinction is made between U.S. and Canadian receivables if you're working with the right partner.
And paramount to all of this is the fact that the facility is ' CONFIDENTIAL ' with respect to your business running on its own, billing and collecting your own receivables.
If you're looking to understand the key advantages of the ABL business line of credit vs. your ability access bank finance seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you in removing that ' mountain of pain ' around working capital needs in Canada.