From Zero To Sixty : Govt Small Business Guaranteed Loans In CanadaSmall Business Loans In Canada

OVERVIEW – Information on government small business loans in Canada . The ability to achieve the financing you need in a govt backed SBL loan depends on this information


Government small business loans often come with the perception that anything to do with this business loan program moves at a very slow speed. That isn’t the case, not the least reason being that your loan requires no correspondence or meeting with the govt! (More about that later) While ‘ zero to sixty might seem a little too fast we’ll show you that proper info and planning make this attractive business financing solution very accessible achievable in less time than you think . Let’s dig in.

Traditional financing in Canada, mainly by banks, has strong appeal for business owners and entrepreneurs. The challenge is qualifying; as it must be clearly proven that your business has revenues, profits, a clean balance sheet, and proven cash flows.

Part of the appeal of ‘ traditional ‘financing is low interest rates and financing costs. ‘Cost effective ‘ and ‘ efficient ‘ aren’t normally associated with start up or SME COMMERCIAL FINANCE. The Govt small business loan program in Canada, underwritten by Industry Canada, offers that lower cost of financing for firms that cannot fully qualify for term loans or cash flow financing.

Many start ups and franchise acquisitions are often financed by the program, which is accessed by thousands of companies every year, to the tune of billions of dollars. The clear benefit here is strong funding at competitive costs from very reliable sources. Since Canada’s chartered banks administer the program it’s safe to say it’s that ‘ reliable source’!

Top experts tell us that many new and emerging businesses are often initially funded by owner equity, friends and family, and, dare we say it ‘ credit cards’!

There are some very basic requirements that come with the program – they include:

Good personal credit history of owner/owners

The business must operate from a leased or owned business premise

Funds can only be used for equipment needs and leaseholds, or real estate

The eligible revenue cap on the program is 5M dollars – obviously start ups are totally ok with that, and tens of thousands of businesses in Canada have revenues under 5M dollars . Economists tell us this sector is in fact driving a huge portion of the Canadian economy.

The government guarantee on the loan via the bank obviously makes the program attractive to bankers that actively participate in Govt loan program. That decreased risk of loss is very attractive to our generally conservative Cdn. banks! Small Business Loans In CanadaThe bottom line for both the bank and yourself – it’s easier to support and start or grow an existing business.

So how does one prepare and get started? Key basics are a credible business plan or exec. Summary, info on your business experience, a list of what funds will be used for, and a realistic cash flow projection that shows repayment of the loan.

‘ Last call ‘ Small Business Loans In Canadaoften refers to your final opportunity – so if you’re ready to explore and investigate or commence a government small business loan financing seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success with a track record of success who can assist .

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 : Small Business Loans In Canada

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