Looking For The Swiss Army Knife Of Business Financing In Canada?
loans

 

OVERVIEW – Information on business financing in Canada. Are you familiar with a whole new array of financial lenders and loans and cash flow and working capital solutions available to your business?

 

Business financing in Canada has the kind of challenges that sometimes makes business owners/ financial mgrs feeling they would like a Swiss Army Knife strategy – that iconic tool that is always versatile in almost every situation. What types of financial lenders can provide your firm with loans and cash flow solutions that you need? We’re talking about underwriting innovation. Let’s dig in.

Most business folks these days realize that business finance is a whole new ball game these days. In many niches of business finance needs alternative and even online lenders dominate the capital space.

Along with traditional business loans and credit facilities from Canadian chartered banks a whole array of solutions is available these days , everything from financing SR&ED tax credits and other current asset cash flow strategies such as A/R financing , inventory loans, PO financing, equipment finance, etc.

What is the appeal of alternative and online financing such as equipment leasing portals, etc? Simply speaking it’s a combination of time and efficiency complemented by the fact that a real finance approval is just around the corner – as many firms cannot acquire lowest cost bank financing due to requirements of length in business, as well as profit and cash flow and debt criteria.

While some might think that any form of nontraditional financing is the ‘WILD WEST’ the reality is that governments and even banks are focusing on alternative and online ‘ FINTECH ‘ ( financial technology ) solutions that services start ups and middle market firms in Canada.

The actual profile of firms that are the best candidates for alternative financing includes businesses, (perhaps like yours?) that are growing, hold some debt already and have very uneven cash flows with need for more business credit.

We note also that a lot of traditional financing prefers ‘ upstream’ larger transactions and financings under say… a million dollars dont always get the attention they deserve given the fact that SME drives the economy. We must emphasize though that bank rates are at an all time low and any alternative nontraditional or online finance comes with a higher cost.

Time is money of course and business people have little patience these days for long approval cycles from banks or other traditional lenders.

Note also that we’re not talking about consumer lending here, with heavy reliance on personal credit scores and personal assets, net worth etc. While the owner financial history may be a factor in almost all levels of financing in the SME (small to medium enterprise) sector it should never be the key factor in loan approvals.

What type of financial package should the owner /mgr be prepared to share with a business lender? The basics include:

Financial statements
Bank statements
Business plan and cash flow forecast if available (these two can be efficiently prepared at a low cost with expert outside assistance and will enhance your loan requests

Are you financially aware of business financing solutions available to your firm? Some top experts maintain that owners/mgrs continue to talk to banks when in fact they already know they don’t meet criteria required!

If you want to be ‘ market aware’ of financing solutions available to your company seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success
who can be that Swiss Army Knife for loans and cash flow solutions you require today.

Stan Prokop – founder of 7 Park Avenue Financial –
http://www.7parkavenuefinancial.com
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 :

http://www.7parkavenuefinancial.com


7 Park Avenue Financial

South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8

Office = 905 829 2653

greg@7parkavenuefinancial.com

‘ Canadian Business Financing with the intelligent use of experience ‘

ABOUT THE AUTHOR
Stan has had a successful career with some of the world’s largest and most successful corporations.
Prior to founding 7 Park Avenue Financial in 2004 his employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) He is an expert in Canadian Business Financing.

Stan has over 40 years of business and finance executive experience. He has been recognized as a credit/financial executive for three of the largest technology companies in the world; Hewlett-Packard, Digital Equipment and Cable & Wireless. Stan has had in depth, hands on experience in assessing and evaluating thousands of companies that are seeking financing and expansion. He has been instrumental in helping many companies progress through every phase of financing, mergers & acquisitions, sales and marketing and human resources. Stan has worked with startups and public corporations and has many times established the financial wherewithal of organizations before approving millions of dollars of financing facilities and instruments on behalf of his employers.

 

Stan Prokop

 

7 Park Avenue Financial
Canadian Business Financing