YOUR COMPANY IS LOOKING FOR BUSINESS FINANCE SOLUTIONS!
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
Oakville, Ontario
L6J 7J8
Securing business funding is essential for sustaining growth and innovation in any entrepreneurial venture.
Struggling to find the proper funding for your business? You're not alone, and we have the solutions you need.
7 Park Avenue Financial originates business financing solutions for Canadian Businesses – We offer BUSINESS FUNDING & solutions that solve the issue of cash flow and working capital – Save time and focus on profits and business opportunities
Canadian Business Financing with the intelligent use of experience
SOURCES OF BUSINESS FUNDING IN CANADA
When it comes to various types of loans and funding, business finance sources in Canada can easily leave owners/financial managers with that feeling of a 'lot of talk and no action' relative to their particular situation.
Rather than viewing this as a 'tragedy' in the making, isn’t it good to know that currently, choices for financing your business have never been better, and there are some solid reasons why? Let's dig in.
Understanding Business Funding
Business funding is one of the cornerstones of business success, providing the necessary capital to drive growth, innovation, and staying power. In today’s competitive market, understanding the funding options available, including business government loans, can be the difference between thriving and surviving!
Bank Lending Statistics
A recent (U.S.) stat indicated that banks currently fund 2 in 5 requests for business credit related to small and medium-sized lending. We're pretty sure those stats at 7 Park Avenue Financial mirror the Canadian experience!
Suffice it to say that many non-bank lenders and commercial finance companies, such as ABL lenders, factoring companies, and lease financing companies, approve many more transactions as a percentage of applications than that.
Advantages of Bank Credit
Bank credit, of course, is the least expensive and most flexible for those firms that qualify. It's no secret there.
Coupled with the strength and dominance of the Canadian banking space, it makes it a great place to borrow for qualified applicants who can demonstrate good balance sheets, profits, and cash flow. There’s no question that the bank ‘cash flow tap’ is on these days for qualified borrowers. Challenges here include finding the right banker and ensuring your firm’s company/industry needs are understood.
The Dilemma of Low Rates
On many occasions, our firm has observed that many borrowers stay with their banks and low rates even though they may not have all the capital they need simply because of the higher cost of alternative business credit.
The Alternative Financing Landscape
There is a significant gap in the number of business borrowers who need an ‘alternative market’ when it comes to borrowing needs.
That has given rise to a robust non-bank industry that typically provides higher borrowing costs but greater access to capital. Those firms offer financing in areas such as:
Types of Alternative Financing
Key Takeaways
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Types of Business Loans: Understand the different loan options, including term loans, short-term loans, and microloans, to match your business needs.
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Canadian Government SBL Loans: Explore government-backed loans that offer favourable terms for small businesses.
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Business Line of Credit: Learn about flexible borrowing options that provide ongoing access to funds.
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Equipment Financing: Discover how to finance necessary equipment without draining cash reserves.
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Government Grants: Identify grant opportunities that provide non-repayable funds to support your business.
Grant funding refers to government or private organizations providing financial support that does not need to be repaid. It is crucial for businesses as it can help cover various expenses without increasing debt.
Conclusion
If you want to change that ‘all talk / no action’ feeling on your Canadian business financing needs, Call 7 Park Avenue Financial, a trusted, credible and experienced Canadian business financing advisor who can assist you in ‘tragedy-free’ financing solutions that make sense for your need today and in the future.
FAQ
What is business funding and why is it important?
Business funding provides the necessary capital for businesses to start, grow, and sustain their operations. It is essential for acquiring resources, expanding operations, and driving innovation.
What types of business funding are available?
There are various types of business funding, including term loans, business lines of credit, equipment financing, invoice factoring, and government business loans, each catering to different needs and circumstances.
How can a business qualify for funding?
Qualification for business funding typically depends on factors such as credit score, business plan, revenue, and the financial health of the business. Different funding sources have varying criteria.
What are the benefits of SBL loans?
Government loans offer favourable terms, such as lower interest rates and longer repayment periods, making them an attractive option for small businesses seeking funding.
How do government grants work for businesses?
Government grants provide non-repayable funds to support businesses in various sectors. They are often competitive and require a thorough application process, but they can significantly boost business operations without adding debt.
What are eligible businesses for grants and rebate programs?
Eligible companies are those impacted by provincial public health measures and can apply for various rebate programs and grants. To qualify for assistance with their fixed costs incurred during the specified periods, these businesses must meet specific criteria, such as demonstrating financial hardship due to the measures.
How does crowdfunding work for business funding?
Crowdfunding involves raising small amounts of money from many people, typically via online platforms, to fund a business project or venture.
What is venture capital and how can it help a business?
Venture capital is funding provided by investors to startups and small businesses with high growth potential in exchange for equity. It can offer substantial funds and strategic support.
How can invoice factoring help with business cash flow?
Invoice factoring allows businesses to sell their outstanding invoices to a factoring company at a discount, providing immediate cash flow without waiting for customer payments.
What is the difference between angel investors and venture capitalists?
Angel investors provide capital to startups in exchange for ownership equity or convertible debt. Venture capitalists are professional groups or firms that invest in high-growth companies, often with larger sums and more strategic involvement.
How can merchant cash advances benefit a business?
Merchant cash advances provide businesses with a lump sum payment in exchange for a percentage of future sales. They are quick to obtain and do not require traditional collateral.
What are the key factors to consider when choosing a business funding option?
Key factors include the cost of funding (interest rates and fees), repayment terms, eligibility criteria, and how the business funding option aligns with your business needs and goals.
How can a business improve its chances of securing funding?
Improving credit scores, having a solid business plan, maintaining good financial records, and demonstrating consistent revenue can enhance a business’s chances of securing funding.
What role do business financing advisors play in business funding?
Financing advisors such as 7 Park Avenue Financial can provide expert guidance, help identify the best funding options, assist in preparing applications, and offer strategic advice to optimize financial management and funding utilization.
How can a small business find funding opportunities?
Small businesses can find funding opportunities by researching various sources such as banks, credit unions, online lenders, government programs, and alternative financing options like crowdfunding and venture capital.
What are the common challenges in securing business funding?
Common challenges include stringent eligibility criteria, high interest rates for certain types of funding, lengthy application processes, and the need for collateral or personal guarantees.
How can alternative financing benefit a startup?
Alternative financing options like crowdfunding, angel investors, and venture capital can provide startups with access to funds without traditional banking requirements, often coupled with valuable industry expertise and networking opportunities.
