YOUR COMPANY IS LOOKING FOR CANADIAN BUSINESS FINANCING!
The Right Business Loan / Business Loans For Your Needs
You've arrived at the right address! Welcome to 7 Park Avenue Financial
Financing & Cash flow are the biggest issues facing business today
ARE YOU UNAWARE OR DISSATISFIED WITH YOUR CURRENT BUSINESS FINANCING OPTIONS?
CALL NOW - DIRECT LINE - 416 319 5769 - Let's talk or arrange a meeting to discuss your needs
EMAIL - sprokop@7parkavenuefinancial.com
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
Business Advisor needs? That is the question faced by many small business owners in Canada, as well as financial managers when it comes to financing their business through loans, asset monetization, and other strategies.
THE NEED FOR AND THE ROLE OF AN EXPERT
Although we say it somewhat tongue in cheek, the reality is that if you had all the small business loan financing you need you certainly would have it in place already, without any help from an ' expert '. What then is the role, value and cost of advice when it comes to growing (or saving?) your business. Let's dig in.
UNDERSTANDING TYPES OF FINANCING AND OPTIONS
Many business owners and managers we meet intuitively have a sense of the current state of affairs of their business. They often think they know where they need to be when it comes to growth and financing needs... where things fall apart is their inability to understand which of a multitude of finance options are available, at an interest rate they can afford - In some cases, it’s a lack of knowledge, in others it just time and resources.
2 KEY ROLES OF THE BUSINESS FINANCE ADVISOR
Enter the Canadian business financing advisor. The key role here is quickly established :
Identifying and carefully explaining all cash flow options
Executing on them.
THE EXTERNAL FORCES OF ECONOMY AND YOUR INDUSTRY
Naturally, along the way, whether you are doing it yourself or with professional expertise, there is a minefield of turbulence. That comes to a certain degree from the fallout of the 2008 worldwide financial implosion/recession, with many Canadian business owners still believing we're not quite out of the woods on that one, and let's not even talk about Covid and pandemics!
Then there are the issues with your current lenders, as well as your overall relationships with suppliers and vendors, etc.
FINANCING FOR SURVIVAL - OR GROWTH?
Financing issues tend to address either your existence or survival or alternatively growth. The role of an experienced business finance advisor is to understand what resources and assets are in place for your firm, and how they can be maximized based on the future plans of your firm.
UNDERSTANDING YOUR CURRENT FINANCIAL POSITION
Nothing is as important as understanding your current financial position. When you understand the current capital structure of your balance sheet, the quality and size of the assets, your operating cycle (days receivable, days payable, inventory turns) and how these assets either eat up or can be monetized into cash you are immediately ahead of the game. Many lenders also place importance on owner credit score, so it is important to understand where that dynamic fits in.
Some very basic issues need to be addressed by yourself or your expert advisor. They include understanding who you are currently borrowing from, their collateral, and any issues that surround your relationship. In many cases, we discuss with clients the company is ' offside ' on ratio, covenants, loan and interest payments, etc. In many cases, it's time to replace that financing with something else.
YOUR BUSINESS PLAN AND FINANCIAL PACKAGE
In many situations a business plan is required for any go forward financing success. 7 Park Avenue Financial business plans meet and exceed lender requirements of banks and other commercial lenders for the loan amount your firm needs. To get approved for financing make sure you have all your business financial data up to date. Business credit comes with various terms and conditions around repayment, collateral, etc., and it's important to understand your finance options.
THE STARTUP CHALLENGE
New businesses even with good credit have a further challenge for funding. Utilizing financing such as the Canada Small Business Loan Program can make a lot of sense in initial funding required.
Short term strategies such as business credit cards are not the way to fix long term business capital issues.
CONCLUSION
The good news about ' growth ' is that it's a bit more fun to address when it comes to traditional and alternative financing solutions at different interest rates. Understanding your gross margins and your working capital needs can 99.99% of the time bring a fix to financing growth?
Small businesses should never underestimate the needs for a trusted, credible and experienced Canadian business financing advisor when it comes to originating finances you need to operate and grow your company. After all, if you didn’t need that help, and if you understood every option available you'd be there already, right?!
Click here for the business finance track record of 7 Park Avenue Financial
Stan Prokop
7 Park Avenue Financial/Copyright/2020/Rights Reserved
