Looking For That Year Round All Seasons Business Financing ? Here’s Where!
OVERVIEW – Information on expansion finance solutions in Canada. Business financing and funding needs revolve around your ability to identify the right type of loan and bank or commercial non bank lender for your growth needs
Business financing in Canada often involves the need for expansion finance solutions. What is the type of loan and funding that makes growing your company work. In a perfect world (apparently it’s not) the business owner/financial mgr is seeking a year round, can we call it ‘ all seasons ‘ funding. Let’s dig in.
The challenge around the size and type of funding your business need revolves around both your current needs as well as the foresight in assessing future needs. If you talk to many owners/mgrs in the SME COMMERCIAL FINANCE world it in fact often seems like a full time job!
Can the bank or other commercial lenders provide you with the financing resources you need? We of course maintain there are the right solution/solutions out there; the trick is identifying your different loan options. Identifying the option of course then creates another challenge – which business lender can best meet your needs. That’s the part about understanding the proper qualifications for different types of business loan and cash flow strategies.
Given that the majority of businesses selling to other businesses don’t operate on a cash basis (retailers excluded of course) the typical needs of an expanding business include salaries, carrying inventories and accounts receivable, as well as acquiring new assets.
Unfortunately in business there’s rarely a ‘ straight line ‘ so cash needs fluctuate in the short and intermediate term.
Canadian banks, commercial finance companies, and even the Govt (via the Guaranteed Small Business Loan – max to 1 Million) play key roles in providing those solutions.
Funding solutions for business expansion include:
SR&ED Bridge loans
Commercial business credit lines/ term loans
SBL loans (The Govt guarantees and underwrites the majority of your loan)
Asset based bridge loans and asset based revolving credit lines
P O Financing
Unsecured cash flow loans
Not to confuse things each of the above types of financing will have you considering different key issues for the type of loan or asset monetization you need.
The most critical issues include: loan term/length, amount of funds required, collateral, personal guarantees,
For a growing company it will often be the case that a combination of finance solutions is required. That’s because growing sales will necessitate financing around credit line needs, fixed asset financing, term finance.
If you’re looking for that ‘ all seasons’ finance solution seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your capital needs.
Stan Prokop – founder of 7 Park Avenue Financial –
Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 10 years – Completed in excess of 100 Million $$ of financing for Canadian corporations . Core competancies include receivables financing, asset based lending, working capital, equipment finance, franchise finance and tax credit financing. Info & Contact Details :
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Office = 905 829 2653
‘ Canadian Business Financing with the intelligent use of experience ‘