YOUR COMPANY IS LOOKING FOR START-UP FINANCING!
HERE'S A GREAT SMALL BUSINESS LOAN FINANCING SOLUTION
'start up sbl loans government business loan'
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
Experts agree that start up financing in Canada is a challenge for any entrepreneur. Did it ever used to be easy? We're not sure but we do know that capital for the ' start-up ' is in fact one of the most challenging issues that you will face. By the way, that goes for debt and equity... although today we're focusing on the debt component of your business. The world of angel investors and private equity and VC's are a subject for another day!
THE CANADA SMALL BUSINESS FINANCING PROGRAM CAN BE THE ALTERNATIVE
Government SBL loans are an alternative to the entrepreneur having to take a home equity loan, borrow from friends and family (it’s never good to borrow money from your brother in law!) Or seek alternative financing capital that is available, but comes with higher rates and more restrictive structures.
So, can we say there is less capital around and that it's harder to achieve - The pundits out there will debate all day on that one. Instead, we'll focus on getting clients the financing they need, at solid ' big business ' rates, terms and conditions, and structures, via SBL government loans.
THOUSANDS OF BUSINESSES EVERY YEAR ACCESS GOVERNMENT GUARANTEED BUSINESS LOANS
Most Canadian business owners/manager is somewhat skeptical when it comes to the phrase ' government' and small business success. We won't weigh in on the hundreds of reasons they might be thinking that way - all we can say is that the Government small business loan, via Industry Canada, has helped thousands and thousands of start up businesses every year. So the proof is in the pudding we maintain!
WHO PROVIDES THE ACTUAL LOAN FUNDING FOR SBL BUSINESS LOANS?
A key element to understanding the program is simply grasping that you are not dealing directly with Ottawa on these loans, they are offered by your bank when you are able to (finally) find a banker that is familiar and has success with the program. What the government does do is to ' guarantee ' that loan to the bank for the majority of the loan. If you're a good banker that’s a strong incentive to make more loans!
THE GOVERNMENT AND PRIVATE SECTOR FINANCING ?
Why would the government get involved in start up financing? The bottom line - we don't care, and we know our clients don't care; they just think it’s a great thing to be able to access financing, to a maximum of 1 Million dollars, at rates just several points over prime. (By the way, prime couldn't be any lower these days, right?) These loans finance equipment, leasehold improvements, and real estate, but not working capital, the latter often being misunderstood.
CONCLUSION
We do suspect though that Industry Canada, the sponsor of the program likes to feel that they are stimulating the economy and helping out one of the largest sectors of the economy, the SME sector.
So, startups. A challenge to finance for new and small businesses? Always, but one sure-fire solution is SBL start-up financing that gets your business out of the gate. Of course, an existing business can also be financed under the program. Speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your needs.
Click here for the business finance track record of 7 Park Avenue Financial
Stan Prokop
7 Park Avenue Financial/Copyright/2020/Rights Reserved
