Getting A Govt Small Business Loan ( ‘ SBL ‘ ) Doesn’t Have To Be A Science ExperimentGovernment Funding In Canada

OVERVIEW – Information on government funding in Canada via the ‘ SBL ‘ program . Small business loans are an attractive traditional financing alternative for financing assets and leaseholds for Canadian business owners /mgrs

Government funding in Canada comes in a couple different forms, primarily grants and loans. (Good luck with the grants). Many business owners and mgrs are not aware that small busines loans, commonly called the ‘ SBL ‘ are available. Let’s dig in.

And by the way, achieving success in a Govt small business loan doesn’t have to be like a science experiment gone bad – its not as complicated as you think.

The federal government, via Industry Canada, provides guaranteed loans for existing businesses and start ups. (Yes Dorothy – start up financing is available in Canada!). Why is the SBL loan attractive? Simply because it has rates, terms and structures that in some cases arent even available to larger successful corporations?

Can we explain that last comment? (Yes we can). Some of the key attractiveness of the program revolves around a limited personal guarantee (the majority of the loan is guaranteed by the govt) and the loan period can be anywhere up to 7years, with 5 years being a typical term. Repayment? It can be any at any time, and without penalty… even the big boys can’t often achieve that one.

So where does the applicant get this type of financing? Things get even easier now, as it’s available through any Canadian chartered bank – the key point being that you must have access or a relationship with a banker that is very familiar with the program and paperwork.

Paperwork? It’s not as complicated as one might think, as government bureaucracy conjures up images of piles of paperwork Government Funding In Canadaand untold delays. The truth? Simply that you only need a basic loan package consisting of a business plan, cash flow, info on yourself as the borrower, and some back up document such as a use of the proceeds, which is often demonstrated by quotes or invoices. For a proper loan package a transaction can be approved within a couple of days .

We can save you a lot of time by also advising you that if you don’t have your personal finances and credit history in order you won’t be approved for the program .That means income taxes up to date (no CRA arrears) and a reasonable credit history as evidenced by a typical business credit check. Technically speaking a credit bureau score of 650 tends to be the threshold of go/no go.

Amounts under the program are typically 350k max, although recent amendments to the program suggest higher amounts are available. And don’t forget that the only two asset categories financed under the program are equipment and leaseholds. That includes technology also, and even software.

Seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success – avoid that science experiment gone wrong Government Funding In Canadaby focusing on quick and positive success for government funding under Small Business Loans.

Author: Stan Prokop 7 Park Avenue Financial :

Business financing for Canadian Firms , specializing in working capital, cash flow, asset based financing , Equipment Leasing , franchise finance and Cdn. Tax Credit Finance . Founded 2004 – Completed in excess of 90 Million $ of financing for Canadian corporations . Info /Contact :


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‘ Canadian Business Financing With The Intelligent Use Of Experience ‘

Stan Prokop


7 Park Avenue Financial
Canadian Business Financing