OVERVIEW – Information on creative business financing options in Canada . Government business loans and other non ‘ term loan ‘ solutions such as working capital and cash flow financings offer real world solutions for finance challenges in the Canadian marketplace
Creative business financing in Canada requires that business owners/financial managers address any area of procrastination around looking at solutions such as government business loans and alternative financing , When things come together it’s king of like our version of ‘ Magic Time ‘ for your business growth and survival potential . Let’s dig in.
The ingredients to financing success come from your firm’s ability to mix together financing that addresses sales growth or asset monetization.
Canada’s Government Guaranteed Business Loan is an interesting hybrid of traditional and alternative financing. It has the qualities of traditional term loan finance, while at the same time eliminating many of the factors that are required for businesses to access traditional debt – As an example it’s available for start ups , franchise acquisition, etc. Given tougher credit standards post 2008-2009 recession that ability to get approved is key.
If there’s mis-information around some forms of business financing in the Canadian marketplace clearly the Govt ‘ SBL’ loan is a prime example.
What it is – A Canadian term bank loan that is guaranteed substantially by the federal government via Industry Canada. It only finances 3 asset classes – equipment, leasehold improvements, and real estate. A proper loan application package can be prepared in days and approval is typically within several business days for those that qualify. (A great example of ‘ time is money ‘)
What it isn’t – It’s not a cash loan, and it’s not a line of credit. And yes, owners still need to have reasonable personal credit history to qualify, although no personal assets are collateralized for the loan. Finally, you deal with your bank, not the govt!
Term loans such as the Government Business Loan might not always be what your business needs. Those firms that are already in revenue mode often need more working capital and cash flow generating ability to run/grow. Those solutions abound in the creative world of alternative financing, and the hard reality is that many forms of non traditional finance are becoming more ‘ Main Street’ everyday.
SR&ED Tax Credit Finance
Sale Leaseback / Equipment Financing
Asset based non bank business lines of credit
Sales / Royalty Finance
P O / Contract financing
If your interested in getting to the stage of ‘ Magic Time’ in business finance needs consider seeking out and speaking to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success to assist you in making sense out of real world solutions financing that will run and grow business.
Writer 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 :
7 PARK AVENUE FINANCIAL = CANADIAN BUSINESS FINANCING CREATIVITY
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