YOUR COMPANY IS LOOKING FOR A GOVERNMENT-GUARANTEED BUSINESS
FUNDING SMALL BUSINESSES IN CANADA
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Financing & Cash flow are the biggest issues facing businesses 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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Startup loans in Canada bring one of the largest challenges any entrepreneur/business person will face. That challenge, in many cases, can be eliminated via the Government Business Loan - often called the ' SBL. ‘ Yet confusion many times still reigns supreme when it comes to this program, how it works, how to access it, and... Oh yes, how to be successful.
IS THE CANADA SMALL BUSINESS FINANCING PROGRAM THE BEST LOAN FOR A SMALL BUSINESS STARTUP?
As we have hinted, SBL loans allow you to get within reach of the initial financing you need for any business start-up. A startup can take many forms - starting from scratch, buying or acquiring a franchise, even buying an existing business and starting over ' (sometimes called a ' restart '). In other cases, other financings can already exist that you have arranged, and the govt business loan supplements that.
WHAT ARE SOME OF THE CHALLENGES OF STARTING A BUSINESS
Many of the challenges you face on financing are preceded by other issues you have already faced before financing, for example, selecting a business location, negotiating a premises lease, doing your due diligence and research on your transaction, etc.
WHATS THE RIGHT FINANCE SOLUTION FOR YOUR STARTUP
Putting the right finance solution in place for your venture means two things, arranging initial financing and ensuring and allowing you will have some working capital and cash flow for your ongoing operations and growth.
Experts tell us that new small businesses should always have a business plan to achieve better finance approval and funding success. 7 Park Avenue Financial business plans prepare clients to meet and exceed bank and commercial lender requirements. Let our team walk you through the application process.
WHAT DOES THE GOVERNMENT LOAN FINANCE?
One of the main misconceptions of govt business loans in Canada is that they, in fact, can provide working capital and cash flow. They can't!! The program is specifically formulated to address only 3 asset categories -
MANY FRANCHISES USE THE GOVERNMENT-GUARANTEED BUSINESS LOAN FOR FRANCHISE ACQUISITION
In the case of purchasing an existing business or franchise, an appraisal of existing assets and leaseholds provides the basis of collateral for your new SBL startup loan.
In business, you don't necessarily get all the changes you need to be successful, so government loans provide a solid base on which to start, operate and grow your company or franchise.
INTEREST RATES ON GOVERNMENT LOANS
We've been somewhat amused for years because clients always want to discuss ' interest rate ' on any new financing they seek for start-ups. While a rate must be competitive and allow you to, of course, pay the loan, the reality is that start-up financing outside the govt loans is difficult, if not outright possible, to achieve. Yet, the SBL program provides a very competitive rate (3% over prime) and even allows you to repay without penalty. Even traditional financing won't allow you to do that.
THE BENEFITS OF GOVERNMENT LOANS
SBL loans work fundamentally because they are government-guaranteed. Canadian chartered banks offer and specialize in loans like the program because the Canadian government guarantees most of the loan. Almost 8000 businesses annually take advantage of the program. Talk to 7 Park Avenue Financial about your eligibility.
Tired of looking for business grants or government grants instead of a startup loan for business owners of Canadian businesses? If you are looking to turn dreams into reality for your Startup, seek out and speak to 7 Park Avenue Financial, a trusted, credible and experienced Canadian business financing advisor who can assist you with small business funding from the government for this and other financial solutions,
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