YOU’RE LOOKING FOR THE GOVERNMENT SMALL BUSINESS FINANCE SOLUTION!
THE CANADA SMALL BUSINESS FINANCING PROGRAM SOLUTION
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
Government business loans are essential for supporting the growth and sustainability of small and medium-sized enterprises.
Unlock government-backed financial support to fuel your business growth and innovation.
7 Park Avenue Financial originates business financing solutions for Canadian Businesses – We offer Government Business Loan solutions that solve the issue of cash flow and working capital – Save time and focus on profits and business opportunities
7 Park Avenue Financial - “Canadian Business Financing with the intelligent use of experience”
CANADIAN GOVERNMENT BUSINESS LOANS
Government small business financing.
The federal government offers small business financing through the SBL loan program, which might be one of the best business financing solutions many Canadian business owners, managers and start-ups have… are you ready… not even heard of?
So, what is SBL loan power, and why are you unfamiliar with the program? Let’s dig in!
SECURE SUCCESS WITH GOVERNMENT BUSINESS LOANS
Government business loans can help your business expand, innovate, or stabilize operations and fund up front project costs.
These loans are backed by Government of Canada guarantees and provide businesses with the financial support needed to achieve their goals with competitive interest rates and without the burdensome conventional conditions of traditional lending. Talk to the 7 Park Avenue Financial team about why this government loan can help your business.
IS THE GOVERNMENT OF CANADA'S SBL LOAN THE PERFECT SOLUTION FOR SMALL BUSINESS FINANCING?
We might be slightly biased because we always work with the program, but top experts also agree that the SBL government small business financing program is one of the best things the good folks at the government do for the SME sector.
The right loan or grant can depend on the business's goals and location. The ‘ SME ‘ definition means different things to different people, so we should clarify that in the context of SBL loans, the actual size of your company, from a sales/revenue perspective, must be less than 10 million dollars.
MANY FRANCHISES ARE FINANCED UNDER THE GOVERNMENT LOAN PROGRAM
We’re not 100% sure that the program helps a smaller business become a huge one, but it helps when financing is a challenge.
The program can also finance intangible assets crucial for business expansion. The SBL loan finances many businesses in various industries, including franchises.
WHO DO YOU DEAL WITH WHEN APPLYING FOR THE LOAN? FINANCIAL INSTITUTIONS!
Part of the mystery of the government small business financing program is that you have no government to deal with!
That is because all you have to do is visit, on your own, or with an experienced advisor a banker that is familiar and knows how to ‘ execute’ on the program.
Credit approval is essential for obtaining a term loan under the Canadian Small Business Financing Program, and providing security is often necessary. Want to know a secret? In our experience at 7 Park Avenue Financial, only a few business bankers like and see the program.
In the last year, Canadian chartered banks in Canada would have approved almost 9000 loans under the program for billions of dollars - and there is no reason you should not be ‘ on the program’!
THE LOAN HAS A LIMITED PERSONAL GUARANTEE
Business people are always thinking about personal guarantees. In Canadian business financing, personal guarantees are required unless you're a huge corporation doing incredibly well.
But here's the good news: Under the SBL program, only a 15% guarantee is required. By the way, you aren't putting up personal collateral or having liens placed against your home—it’s simply a ' promise to pay ' without additional collateral being demanded.
WHO PROVIDES YOUR LOAN GUARANTEE - SPOILER ALERT - THE GOVERNMENT OF CANADA!
The two parties to SBLs are you and the bank. The government, via INDUSTRY CANADA, guarantees a large portion of the bank's loan.
The loan's amortization period affects the repayment schedule and interest payments, making it a crucial factor in business loan planning.
KEY TAKEAWAYS
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SBL Loans: SBL loans, backed by the government, offer lower interest rates and longer repayment terms, making them a popular choice for small businesses-including funding for leaseholds and real property improvements
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Creditworthiness: A solid credit history and financial stability increase the chances of loan approval and favourable terms.
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Loan Types: Different government loans and funding to support businesses and cater to their needs for economic development, such as expansion, equipment purchase, or working capital.
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Application Process: Understanding the application requirements and documentation helps streamline the approval process.
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Loan Benefits: Government loans provide financial support with more flexible terms and lower costs than traditional loans.
CONCLUSION
Don't believe all the myths or negative things you hear about government financing via an 'SBL'.
In many ways, it's the perfect financing solution for small businesses.
If you don't want to ' slow down ' the process, call 7 Park Avenue Financial, a trusted, credible, and experienced Canadian business financing advisor who can assist you with SBL loan power! It just might be a financial solution you never heard of!
FAQ
How can government business loans help my company grow?
Government business loans help support businesses by providing the capital needed for expansion, purchasing equipment, or increasing inventory, allowing your business to scale and seize new opportunities. Some borrowers choose grants and other federal and provincial funding programs. Visit: https://www.7parkavenuefinancial.com
What types of government business loans are available?
There are various types, including SBL loans, Canada Small Business Financing Program loans, microloans, and equipment financing, each suited to different business needs. Visit: https://www.7parkavenuefinancial.com
What is required to qualify for a government business loan?
Typically, lenders require a solid business plan, good credit history, financial statements, and collateral, depending on the loan type. Visit: https://www.7parkavenuefinancial.com
How can I improve my chances of getting approved for a government business loan?
Maintaining a solid credit score, preparing a detailed business plan, and ensuring steady cash flow can significantly enhance your approval prospects. Visit: https://www.7parkavenuefinancial.com
What are the benefits of alternative government business funding?
Alternative funding options like grants or micro-loans often have more flexible requirements and faster approval processes than traditional loans. Visit: https://www.7parkavenuefinancial.com
What should I consider when choosing a government business loan?
Evaluate interest rates for the loan amount , repayment terms, fees, and the lender’s reputation to ensure you select the best loan for your small business funding needs. Visit: https://www.7parkavenuefinancial.com
How does the Canada Small Business Financing Program work?
This program allows businesses to secure loans from financial institutions with government backing, providing lower interest rates and favorable terms. Visit: https://www.7parkavenuefinancial.com
What are the risks of taking a government business loan?
Potential risks include high interest rates, impact on credit scores, and repayment challenges, which can affect your business’s financial health. Visit: https://www.7parkavenuefinancial.com
Can startups qualify for government business loans?
Yes, specific startup loans are available, though due to the higher risk involved, they may require a strong business plan and personal guarantees. Borrowers can use a business loan calculator to calculate various assumptions around rates, payments, etc. Visit: https://www.7parkavenuefinancial.com
How can equipment financing benefit my business?
Equipment financing allows businesses to purchase or lease essential equipment without a high upfront cost, preserving cash flow for other needs. The majority of small and medium businesses use lease financing to acquire assets. Visit: https://www.7parkavenuefinancial.com
What is the difference between a government business loan and a traditional loan?
A government business loan typically offers lower interest rates and more favourable terms, with partial guarantees by the government, reducing the risk for lenders. Visit: https://www.7parkavenuefinancial.com
How can working capital loans assist my business?
Working capital loans provide short-term funding to cover daily operating expenses, ensuring smooth business operations during cash flow gaps. Visit: https://www.7parkavenuefinancial.com
What are Canadian Government Guaranteed SBL loans, and what are their benefits?
The government partially guarantees SBL loans under the Canada Small Business Financing program, available from participating financial institutions. They offer lower interest rates and longer repayment terms, making them an attractive option for small businesses. Visit: https://www.7parkavenuefinancial.com
