OVERVIEW – Information on loans and finance alternatives that complement a successful business financing strategy
Loans and other finance alternatives require specialized tactics for your firms business financing strategy to be successful. In today’s competitive business climate it’s all about knowing your options. Let’s dig in.
Not all business owners, particularly in the SME (small to medium size) commercial environment work with a formal business plan against which they monitor ongoing company progress. They should, but they don’t. However it’s still relatively simply to have a ‘ plan’ when you understand the key elements of any business, allowing you to meet challenges head on.
Those key elements? It’s all about long term planning, day to day operating activities, your marketing and products, and of course your financing and growth. Successful businesses know that it’s a combo of the day to day as well as managing your business for the future.
When it comes to a business financing strategy it’s all about knowing your options as to how you’ll get there. And that’s all about watching external factors such as your industry dynamics, the economy, and the dreaded ‘ competition’. Cash and business resources need to be thought out carefully.
A lot of times it all comes down to critical financing needs that arise out of your mistakes. That might be from issues around missing out on what’s happening in your industry, assuming things will happen when they don’t, or having the wrong people and assets in place to move forward.
The business owner/ financial mgr must have a clear understanding of the current financing within the company – it’s all about those financials – i.e. balance sheet, income statemement and cash flow. We cringe when we meet clients who don’t know the basics- it days receivable/payable, inventory turns, and operating cash flow metrics.
What key factors often influence your immediate need for financing? They typically include relations with existing lenders, being in default on certain financing arrangements, and having too much debt, or the wrong kind of debt. In some cases firms are early stage and investing valuable capital in R&D.
So at the end of the day it’s all about:
Knowing where your financials are at today
Knowing where you want the business to be down the road
Knowing what your alternatives are
Those alternatives? They vary when it comes to type of need – i.e. working capital, cash flow, long term debt, asset acquisition, etc.
Your options? They include:
Canadian bank financing (business lines of credit / term loans
P O / Contract financing
Asset based non bank business credit lines
SR&ED tax credit financing
Equipment Financing/Sale Leasebacks
If you’re looking to successfully address your immediate or long term need for business financing seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you in loans and other asset monetization alternatives for funding success.
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 = CANADIAN BUSINESS FINANCING STRATEGY EXPERTISE – LOANS AND OTHER ALTERNATIVES
7 Park Avenue FinancialSouth Sheridan Executive Centre
2910 South Sheridan Way
Office = 905 829 2653
Fax = 905 829 2653
‘ 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.
7 Park Avenue Financial
Canadian Business Financing