OVERVIEW – Information on business financing in Canada . Issues facing companies who require loans and other capital funding and cash flow solutions to survive and grow their business
Business financing needs in Canada might be requiring you to ‘ test the water ‘. But the question that begs to be asked is what amount of capital do you require for your company and, equally important, what is the desired or best funding solution. Let’s dig in.
Full scale business might well be required for larger financing – we’re typically talking 1 Million ++ $, and that includes solid executive summaries, cash flow forecasts, etc. But in the ‘ SME “market (small to medium enterprise) (where a lot of action takes place!) that’s definitely not necessarily the case.
We’ll point our though that any business owner/financial mgr who can’t provide basic info such as financial statements, owner info, background story, etc is somewhat doomed to failure in achieving their company financing goals. In some cases a third party business financing advisor/consultant might be the best person to move your financing needs forward.
Keep in mind also that whether it’s a small or large amount of due diligence you will always be required to submit a proper application and relevant back up info – Example – aged receivables, payables, articles of incorp., , tax obligations, etc
Naturally new capital can come in the form of new owner equity (not what we are talking about here today) or debt and asset monetization solutions. ( That’s what we’re talking about today )
What then are the basic financial solutions available in SME COMMERCIAL FINANCE ? They typically include the following:
A/R Financing – (includes factoring, Confidential Receivable Financing)
Bank credit lines / term loans
Non bank full business credit lines – ‘ ABL’ loans
Equipment Finance/sale leasebacks
Govt of Canada Guaranteed Small Business Loan Program (this just in! New limit is $1,000,000.00)
SR&ED Loans- Refundable tax credit financing
Unsecured cash flow loans
Our experience tells us that timelines often drive the financing need, with, unfortunately many clients demonstrating reactive as opposed to proactive financing searches. Some transactions definitely require more time than others to successfully be completed, and unfortunately some firms don’t have the financial resources to control their destinies! Aka ‘ running out of cash!
Can we provide a guarantee around your business financing needs? Yes we can! We guarantee that your financing search may well become time consuming and frustrating and challenging! Seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success
who can assist you with your business finance needs.
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
South Sheridan Executive Centre
2910 South Sheridan Way
Office = 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