YOUR COMPANY IS LOOKING FOR BUSINESS CREDIT SOLUTIONS!
TRADITIONAL BUSINESS LOANS IN CANADA & ALTERNATIVES
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
Has business credit and access to financing solutions really changed that much in Canada? It has if you talk to many of the clients we meet, many of whom consider it an epic battle to access business loans and the financing they need to run, and as importantly, grow their companies. Let's dig in.
THE CHALLENGE OF ACCESSING BANK FUNDING
While Canadian chartered banks are doing as great as they always have many firms in the SME ( small to medium enterprise ) sector feel the credit borrowing standards for loans and other bank solutions have in fact not eased to the extent the banks maintain they have since the 2008 global implosion.
ACCESSING CREDIT / PROVIDING CREDIT
When you think about it, it’s all about getting credit, and ‘ giving ‘ credit, as your ability to provide credit terms to clients that match their needs can make or break your business. And both of those issues, i.e. accessing credit and supplying credit to your clients affect profits, sales, and cash flow. It’s a holy triumvirate of sorts.
IS ALTERNATIVE FINANCING THE SOLUTION?
So what does the business owner/financial do when they find themselves ' discouraged' by the lack of business financing solutions? One alternative is in fact just that... ‘Alternative financing ' via non-bank solutions.
THE CASH FLOW FOCUS
When it's all about ' Cash flow ' and access to credit lines, term loans and equipment financing numerous solutions are available. Some are what we could call ' direct replacements' for bank solutions; others are derivatives or extensions of what main street calls ' Traditional Financing '.
CANADIAN BUSINESS FINANCING SOLUTIONS
A recap of these solutions? We thought you would never ask! They include:
A/R Financing
Inventory Loans
Access to Canadian bank 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 Cash Advance/Business Credit Card/Online lenders
Securitization
Looking for a government loan for business needs? The Government Small Business Loan is also a great solution for startup and early stage small businesses in Canada. Also entrepreneurs should understand a good credit score is required for most types of business funding needs. The majority of business owners focus on interest rates a little too often .. but it's important to note that the government SBL loan comes with an attractive interest rate and prepayment provisions and excellent terms and conditions, including a very limited personal guarantee.
The issue of owner good credit is always key whether is business funding or personal loans . Most lenders focus on borrowers having a credit score/credit rating in the 600+ range. New businesses / startups in Canada will always have to work harder to get a loan solution!
BUSINESS FUNDING NEEDS ARE A CONSTANT MOVING TARGET
The need for cash flow and working capital solutions is a dynamic one, we can easily call it a ' moving target ‘. Many of the alternative solutions referenced above relate to what the finance industry calls ' bulge' requirements that arise over time with the ebb and flow of business success and challenges. The bottom line - Simply that good cash flow and debt financing needs today might, and often aren't there tomorrow.
QUALIFICATIONS OF TRADITIONAL AND ALTERNATIVE FINANCING
Qualifications of course vary for each alternative finance solution but suffice to say that since they are all ' non-bank' in nature they are infinitely more achievable when you have assets, sales, and prospects that can be substantiated.
THERE IS A BUSINESS FINANCE SOLUTIONS FOR EVERY FUNDING REQUIREMENT
Is business credit important to Canadian owners and financial managers? Is it hard to get a business loan that meets your business needs? It is if you believe cash flow is king. Never ' bank' on the fact that your firm is unfinanceable - Seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you in fighting that epic battle for loan and finance success in Canada - allowing you to grow your business in the products and services you provide.
A good business plan and cash flow projections will help speed up and ensure success in most types of loans - 7 Park Avenue Financial business plans meet and exceed the requirements of banks and commercial business lender.
Click here for the business finance track record of 7 Park Avenue Financial
Stan Prokop
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