YOUR COMPANY IS LOOKING FOR GOVERNMENT SMALL BUSINESS LOAN FINANCING!
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
Creative business loans are reshaping the entrepreneurial landscape, providing innovative financing solutions for companies seeking growth and expansion.
Unlock the business potential in your own business with creative financing options tailored to your unique needs.
7 Park Avenue Financial originates business financing solutions for Canadian Businesses – We offer CREATIVE BUSINESS LOANS and working capital solutions – Save time and focus on profits and business opportunities
“Canadian Business Financing with the intelligent use of experience”
CREATIVE BUSINESS FINANCING IN CANADA
Shocking statistic: According to a recent study, 67% of small businesses that applied for creative financing options could secure funding, compared to only 31% of those applying for traditional bank loans.
Creative business financing in Canada requires business owners/financial managers to address any procrastination around looking at solutions such as government business loans and alternative financing; when things come together, it's like our version of ' Magic Time ': your business growth and survival potential. Let's dig in on business basics for funding and financing.
BEYOND THE BANK - DISCOVER LOAN OPTIONS AS INNOVATIVE AS YOUR BUSINESS
Creative business loans are the new way to access business capital. If you are looking for flexible custom solutions to your CANADIAN BUSINESS FINANCING needs, talk to the 7 Park Avenue Financial team about business funding that meets your needs.
Creative Business Loans: What Are Key Ingredients to Business Success?
When it comes to early-stage or new business finance, the ingredients to financing success come from your firm’s ability to mix financing that addresses sales growth or asset monetization, along with providing flexible funding and financial support tailored to the specific needs of creative small businesses.
OTHER CANADIAN BUSINESS FINANCING SOLUTIONS FOR CREATIVE BUSINESSES
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’ every day.
They are solid, creative financing ideas.
Let 7 Park Avenue Financial demonstrate solutions that provide affordable and flexible financing to creative businesses, essential for their growth and vitality, especially in post-industrial and disinvested communities.
They include:
Accounts Receivable Financing - Factoring / Confidential Receivable Financing
Inventory Finance
SR&ED Tax Credit Finance
Sale-Leaseback / Equipment Financing
Asset-based non-bank business lines of credit
Short term working capital financing - Merchant Cash Advances
Sales / Royalty Finance
P O / Contract financing
Franchise Loans
We have offered any of these solutions to help you start or buy a business and provide customer financing for custom financing an acquisition. The Community First Fund also supports creative small businesses, aiding in economic recovery and employment opportunities.
WHAT IS THE CANADA SMALL BUSINESS FINANCING PROGRAM
Canada’s Government-Guaranteed Business Loan is an exciting hybrid of traditional and alternative financing at competitive interest payments and rates. It has the qualities of conventional term loan finance while eliminating many factors required for businesses to access traditional debt.
An amortization schedule is often used to calculate monthly payments and interest costs, providing a clear picture of the loan's impact on cash flow. For example, it’s available for start-ups, franchise acquisition, etc. Given more demanding credit standards post-2008-2009 recession, getting approved is key. And lets not even talk about COVID and higher interest rates.
LET 7 PARK AVENUE FINANCIAL HELP YOU AVOID THE MISINFORMATION AROUND GOVERNMENT LOANS & BUSINESS FINANCING OPTIONS
If there’s misinformation around some forms of business financing in the Canadian marketplace, the Govt ‘ SBL’ loan is a prime example. Financial institutions, including nonprofit community development financial institutions (CDFIs), are crucial in providing government loans and small business financing options.
WHAT DOES THE GOVERNMENT LOAN FINANCE? WORKING CAPITAL
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,
Real estate
Additionally, accounts receivable can be financed through accounts receivable finance or invoice financing, allowing businesses to borrow against the value of their unpaid invoices.
A proper loan application package can be prepared in days, and approval is typically within several business days for those who qualify. (This is a great example of ‘ time is money ‘.) Your loan package must include a business plan and solid financial projections.
7 Park Avenue Financial business plans meet and exceed the requirements of Canadian banks and commercial business lenders.
WHAT THE PROGRAM DOES NOT FINANCE!
What it isn’t—It’s not a cash loan or a line of credit. And yes, owners still need a reasonable personal credit history to qualify, although no personal assets are collateralized for the loan.
Loans for a few thousand dollars may have less stringent qualification processes than larger loan amounts. Finally, you deal with your bank, not the government!
When it comes to creative financing, many firms looking for business capital quickly realize they are not candidates for venture capital, angel investors, etc. These are very unrealistic for many small businesses. Yet, they still need financing to grow revenues for their products and services.
KEY TAKEAWAYS
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Alternative lending solutions offer non-traditional ways to secure business capital
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Flexible repayment structures adapt to cash flow patterns, easing financial strain
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Asset-based financing leverages existing resources to obtain funding quickly
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Revenue-based models tie loan payments to business performance, reducing risk
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Invoice financing unlocks working capital by advancing funds on outstanding invoices
CONCLUSION - SMALL BUSINESS FUNDING & GOVERNMENT SMALL BUSINESS PROGRAMS
Are re looking for funding for small businesses or a government loan for new business, or early stage funding and if you’re interested in getting to the stage of ‘ Magic Time’ in business finance needs?
Call 7 Park Avenue Financial, a trusted, credible and experienced Canadian business financing advisor to help you, the business owner, make sense of real-world solutions financing to run and grow your business.
Creative businesses such as arts schools and performing arts production agencies can also benefit from these financing options.
FAQ
How do creative business loans differ from traditional financing options?
Creative business loans offer more flexibility in terms of repayment structures, collateral requirements, and eligibility criteria. They are designed to adapt to unique business needs and cash flow patterns.
What types of businesses can benefit from creative loan options?
Startups, small businesses, and companies in niche industries often find creative loans beneficial. These options cater to businesses that may struggle to meet traditional lending criteria.
How can creative financing help improve cash flow management?
Many creative loan options, such as revenue-based financing or invoice factoring, align repayments with business income. This synchronization helps maintain healthy cash flow during slow periods.
Are creative business loans typically faster to obtain than traditional bank loans?
Yes, many creative financing options have streamlined application processes and quicker approval times compared to conventional bank loans, providing faster access to capital.
Can creative business loans help companies with limited credit history?
Absolutely. Some creative financing solutions focus on factors beyond credit scores, such as revenue potential or asset value, making them accessible to businesses with limited credit history.
What are the potential risks associated with creative business loans?
Creative loans may come with higher interest rates or fees compared to traditional options. It’s crucial to carefully review terms and consider long-term implications before committing.
How do I determine which creative loan option is best for my business?
Assess your business’s financial needs, cash flow patterns, and growth projections. Consider consulting with a financial advisor to evaluate which option aligns best with your goals and capabilities.
Are there any industry-specific creative loan options available?
Yes, many lenders offer tailored financing solutions for specific industries, such as healthcare, technology, or agriculture. These options address unique challenges and opportunities within each sector.
How does the application process for creative business loans differ from traditional loans?
Creative loan applications often require different documentation, focusing on factors like revenue projections or asset valuations. The process may be more flexible and consider a broader range of financial indicators.
Can creative business loans be combined with traditional financing options?
In many cases, yes. Some businesses use a combination of creative and traditional financing to create a comprehensive funding strategy that addresses various needs and goals.
What factors should entrepreneurs consider when exploring creative business loan options?
Entrepreneurs should evaluate their business’s financial health, growth projections, and risk tolerance. They should also compare interest rates, repayment terms, and potential impact on cash flow across different creative financing options.
How have technological advancements influenced the availability of creative business loans?
Technology has enabled alternative lenders to use advanced algorithms and data analysis for risk assessment, resulting in more diverse and accessible financing options. Online platforms have also streamlined the application and approval processes.
What role do creative business loans play in fostering innovation and economic growth?
Creative financing options provide capital to businesses that may not qualify for traditional loans, enabling them to pursue innovative projects, expand operations, and create jobs. This accessibility to funding contributes to overall economic growth and market diversity.
