YOUR COMPANY IS LOOKING FOR ALTERNATIVE BUSINESS FINANCE SOLUTIONS!
Boost Your Business Liquidity with Cutting-Edge Non-Bank Financial Tools
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?
CONTACT:
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Oakville, Ontario
L6J 7J8
Direct Line = 416 319 5769
Email = sprokop@7parkavenuefinancial.com
Non-bank financial solutions revolutionize business financing by providing robust alternatives to traditional bank loans.
Unlock your business's potential with smart financing that sidesteps the bank!
7 Park Avenue Financial originates business financing solutions for Canadian Businesses – We offer NON-BANK FINANCIAL SOLUTIONS FOR BUSINESS solutions that solve the issue of cash flow and working capital – Save time and focus on profits and business opportunities
Introduction
Business finance funding sources for many Canadian firms often seem just out of reach for many owners/financial managers. Those owners and managers might even feel as if their financial challenges are somewhat impossible, especially in times of industry or economic turbulence.
In some cases, your business financing prospects may feel somewhat similar to the July 12 Disco Demolition Fiasco?! (On that day a Chicago DJ organized a 'disco sucks’ protest at Chicago's Comiskey Park. The 5000 invited fans turned into a riot of 70,000 of epic proportion and damage). Unexpected events in business can wreak havoc on any company, large or small, or new!
Non-bank financial solutions offer a lifeline to companies seeking flexible funding strategies. These alternative financing solutions, including invoice financing, merchant cash advances, asset-based lending, and working capital loans allow businesses to bypass traditional banking hurdles and secure capital.
Non-bank solutions not only enhance financial accessibility but also inject vital liquidity into a business.
Most business people feel that bank financing is often critical for the ultimate success of a company. Traditional Canadian chartered bank financing might not always be available though. The good news is that there is access to business finance today in numerous other forms.
These solutions tend to fill the 'growth gap' that perceived / real credit crunches deliver to the stifling of a firm’s growth.
In some cases, it is all about 'the turnaround', the ability to turn a business around via strategies that will benefit your company immediately and in the long term.
When you are looking to fix your company's immediate financial position it's all about the ability to both control current cash flow, as well as generate additional cash flows. The ability to control costs, generate sales and ensure you have the capital to finance those sales is what that immediate turnaround is all about.
While ownership and management might possibly be capable of addressing internal costs and sales and cash flow issues ultimately specialized expertise from a trusted, credible and experienced Canadian business financing advisor will probably generate more success.
When it comes to low cost and low risk our Canadian chartered banks deliver on the many longer-term solutions for business finance needs. Although bank requirements are pretty basic, and common sense, many firms, perhaps yours, are unable to prove or provide stability in cash flow, historical profits, and the collateral and or covenants and personal guarantees required in our Canadian banking system.
Alternative Financing Options
6 sources of business financing you may not have considered are:
Asset-based lending / non-bank lines of credit - These facilities combine your receivables, inventory, and even equipment and real estate if desired, into one borrowing facility and revolving line of credit.
Factoring/ Confidential Receivable Finance
Sale-Leaseback On Assets You Own -
Purchase Order Financing
Equipment Financing (Lease finance is often both a traditional and alternative method of acquiring and financing new assets) Almost any new or used equipment asset can be financed these days, even software, to run your business!
Start-up and early-stage growth firms should well consider the Canadian government's small business guaranteed loan program, providing a government-guaranteed loan via your bank for 90% of the loan amount, which now is up to $1,000,000.00 as a loan amount cap.
We always point out to clients that various forms of equity finance could be considered; these include bonds, private capital pools, private equity, angel investors, crowdfunding, etc. However, these solutions are a road less travelled and take so much time with only the smallest percentage of firms ready or succeeding in these areas. No secret also that these aforementioned 'equity' type solutions dilute business ownership percentages, often undesirable in early-stage or growing companies.
Key Takeaways
- Invoice Financing: Allows businesses to borrow against invoices due from clients, providing immediate cash flow.
- Merchant Cash Advances: Offers cash upfront in exchange for a portion of future sales, ideal for businesses with significant credit card transactions.
- Asset-Based Lending: Involves loans secured by assets such as inventory or equipment.
- Factoring Services: Businesses sell their receivables at a discount to improve cash flow immediately.
-
Conclusion
If you're looking to feel better about business finance alternatives available to your firm call 7 Park Avenue Financial, a business finance expert with a track record of business financing success who can assist you with identifying the right mix of solutions and funding/capital amount your business needs... to grow!)
FAQ FREQUENTLY ASKED QUESTIONS PEOPLE ALSO ASK MORE INFORMATION
What are non-bank financial solutions?
These solutions encompass a variety of services designed to meet business financing needs without the use of traditional banks. They include mechanisms like invoice financing, merchant cash advances, and more, providing alternative, often more accessible means of securing capital.
How do non-bank financial solutions benefit my business?
By bypassing the often stringent requirements and lengthy processes of traditional banks, these solutions offer quicker, more flexible access to capital. They cater specifically to needs such as bridging cash flow gaps or financing growth initiatives, which might not qualify for conventional bank loans.
What types of businesses are ideal candidates for non-bank financial solutions?
Typically, small to medium-sized enterprises (SMEs) facing immediate financial needs or those without substantial credit history stand to benefit the most. Industries with high receivables volume like manufacturing, wholesale, and services often find these solutions advantageous.
Are non-bank financial solutions regulated?
Yes, while they offer an alternative to traditional banks, non-bank financial providers operate under specific regulatory frameworks that vary by country. These regulations ensure transparency and fairness, protecting both the lender and the borrower.
What risks are associated with non-bank financial solutions?
As with any financing option, risks include the potential for higher costs compared to traditional loans, dependency on the financial stability of your business, and the necessity to understand fully the terms and conditions, which can vary widely among providers.
How do interest rates for non-bank financial solutions compare to those of banks?
Interest rates can be higher, reflecting the greater risk assessed by lenders and the convenience of quicker, less restrictive funding options.
Can I use non-bank financial solutions for long-term financing needs?
While typically used for short-term needs, some non-bank options like asset-based lending can be structured for longer-term financing depending on the business’s situation and goals.
What impact does non-bank financing have on my business credit score?
Utilizing non-bank financial solutions does not inherently affect your business credit score negatively; in fact, it can positively impact your score when managed properly.
How quickly can I access funds through non-bank financial solutions?
Funds can often be accessed within a few days, making it a swift solution for urgent financial needs, unlike traditional loans which might take weeks.
Is collateral always required for non bank financial solutions?
Not always; it depends on the type of financing. For instance, invoice financing and merchant cash advances typically do not require traditional collateral as loans are secured against invoices or future sales.
What distinguishes non-bank financial solutions from traditional bank loans?
Non-bank solutions generally provide faster, less bureaucratic access to funds and are more flexible regarding borrower credit profiles and the use of funds when compared to banks and the traditional financial system.
How can I choose the best non-bank financial solution for my business?
Evaluate your financial needs, understand the costs and terms of various products, and consider how quickly you need the funds. Consulting with a financial advisor who understands your industry can also provide tailored guidance.
What are common misconceptions about non-bank financial solutions?
Common misconceptions include the belief that they are only for failing businesses, are always more expensive than bank loans, or are less reputable. In reality, they are a practical alternative for many healthy, thriving businesses seeking flexible financing options.
