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7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Phone = 905 829 2653
Fax = 905 829 2653
Email = email@example.com
Government Loans in Canada. And dare we say it: OMG! There it was, right in front of our eyes - an article in Canada's leading business daily newspaper suggesting that clients that we help daily are corporate welfare bums. Talking about how to hurt us! Let's clarify! So let's dig in.
A recent white paper by one of Canada's most respected THINK TANKS suggested that there is a major increase in ' Corporate Welfare ' One department in particular, ' Industry Canada ' has ' doled out' over 22 Billion dollars since the 1960's. A lot by any imagination since all those zeros add up to some real money once in awhile.
We never weigh in on the political stuff, although deep down we do find something wrong about the 5.5 Billions dollars given as non repayable loans to 3 of Canada's major corporations named in the article. The guilty will remain UN - named in our musings here.
So what’s our beef with all this ?It's simply that the financings we originate on behalf of clients around the SBL loan program , Canada's non repayable film tax credits , as well as our revered SR&ED program seem in our eyes ultra legitimate program which promote business, the economy, employment, taxes, etc.
Take Government SBL loans in Canada. While every year somewhere between 7000-8000 companies, clients like ours , take advantage of the program they do that because they are looking for basic business financing that meets needs for ongoing needs for equipment, leasehold improvements, computers, software, real estate, franchise purchases, etc .
And the reality is that they utilize the Small business loan program via our efforts simply because it’s a competitive loan at decent rates and structures that could not be achieved otherwise via our Canadian chartered banks. The basics of the program are as follows:
Available for start ups or established businesses with revenues under 5 Million dollars
5-7 Year terms
Rates at 3% over prime
Nominal personal guarantees
Repayable without penalty
We again point out this is a loan program, it's not a grant.
As far as SRED and film tax credits go these are Canadian tax credit programs that create non repayable funding for research and projects in the film and animation industry. Most believe these programs provide an effective means of furthering Canada's position in industry and, in the case of film, entertainment and the Transmedia industry.
Financing for SR&ED and film /animation tax credits provides valuable working capital and cash flow for assets that otherwise couldn’t be monetized via Canadian banks in the traditional manner.
So, final point? We’re quite sure that somewhere out there that there is some real corporate welfare types. But for our clients Govt SBL loans and tax credit financing for film and SR&ED is a legitimate way to grow businesses and further revenues and profits for the Canadian economy.
Looking for legitimate govt loan program financing for Equipment, leaseholds, film and animation tax credits, etc? Seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can help you monetize these programs for cash flow and working capital needs.
government loans tax credits