YOUR COMPANY IS LOOKING FOR THE RIGHT BUSINESS WORKING CAPITAL COMPANY!
WHAT TYPE OF WORKING CAPITAL LOAN WORKS FOR YOUR BUSINESS?
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Financing & Cash flow are the biggest issues facing business today
ARE YOU UNAWARE OR DISSATISFIED WITH YOUR CURRENT BUSINESS FINANCING OPTIONS?
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7 Park Avenue Financial
South Sheridan Executive Centre
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Business working capital often creates somewhat of a state of ' paralysis' for many business owners. They are almost ' caught in the crosshairs' when it comes to understanding their commercial financing options and demystifying the complexity around the need for those business loans and asset monetization solutions. Is there a simpler way? Let's dig in.
UNDERSTANDING THE IMPACT OF CASH FLOW AND WORKING CAPITAL SHORTAGE
Top experts tell us that when it comes to the SME Commercial sector of business in Canada owners and managers often don't realize the impact of a lack of working capital and cash flow until it's a bit too late sometimes. Most companies tend to view funding daily operations over 12 months as a typical period for their business needs to fund daily operations.
DOES YOUR FIRM UNDERSTAND YOUR CANADIAN BUSINESS FINANCING OPTIONS
In some cases, quite remarkably, they are not even aware of all of the traditional and alternative options they have available to them. They also are often not aware of both government and commercial financing programs that could potentially provide them with the working capital loans and funding options they need.
THE BANK IS NOT THE ONLY BUSINESS FUNDING SOLUTION
It is of course not surprising that almost half of small businesses and the or their financial managers tend to only think only of their existing ' bank ' as the sole source of their financing solutions. Financial advice and solutions arising out of that advice also often comes from their accountants, searching the internet for ' Canadian business Financing ', and finally engaging a hopefully experienced Canadian business financing advisor who has a track record of success in business working capital solutions.
WHY DOES YOUR BUSINESS NEED ADDITIONAL FUNDING
We recently read a study that indicated that over 60% of business owners stated that at certain times of the year they always need extra funding. That of course could come from seasonality in their business, ' bulge' situations that arise out of large contracts or orders, etc.
AVOID THE CASH FLOW CRISIS!
That type of short term cash crisis always demands funds and it’s often a case of simply surviving, let alone focusing on the long term growth of the business.
Fortunately, or unfortunately? ... many business owners/managers often rely on their suppliers and vendors as a source of cash - they of course do that by maximizing their supplier credit facilities and then delaying payments as long as they can.
MANAGING PAYABLES EFFECTIVELY INCREASE CASH FLOW
Technically speaking increasing payables in fact does enhance cash flow from operations, but it is often at the risk of the key relationships you need from major suppliers and vendors.
It (almost) goes without saying that your ability to access business working capital financing or a business loan is really what needs to be done. In the case of cash flow, fixed-term debt is rarely the solution, so the business owner should consider the following solutions:
Access to Canadian bank credit / term loan
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
In many businesses, real estate is a component of total assets and numerous financing / refinancing strategies are available.
Any one or a combination of the above solutions enhances cash flow especially when you are in fact growing your business. The loan amount and interest rate will always depend on the type of financing you require and from whom you access it - i.e. a traditional or alternative funder. For any SME firm the credit score of the owner as well as balance sheet health will factor into a final financing decision. Repayment terms for term loans tend to be 3-5 years as an example, while numerous other business finance solutions have shorter terms and different repayment. The goal of the business owner should be to take advantage of the most accessible financing at the most reasonable cost relative to their specific capital or industry needs.
Understanding the impact of commercial financing solutions on small business is key to business working capital. Seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you in unravelling the paralysis that often comes from understanding your working capital options and business needs.
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