YOUR COMPANY IS LOOKING FOR THE SBL SMALL BUSINESS LOAN!
UNDERSTANDING THE CANADA SMALL BUSINESS FINANCING PROGRAM
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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
Small business loans in Canada, via Government Loans might not be what you think. The problem with achieving financing success with the program is really about understanding the secret language of the Canada small business loan. At 7 Park Avenue Financial we help small businesses take advantage of this very popular program - a program so popular many have never heard of it !!? Canadian business loans that make sense and are achievable! Let's dig in.
KEY STATISTICS AROUND THE GOVERNMENT OF CANADA SMALL BUSINESS LOAN
No small business financing in the SME sector (Small to Medium Enterprise) gets more attention than SBL small business loans. It provides real capital, in fact, billions of dollars a year, to close to 8000 new and existing businesses in Canada in the Canadian marketplace.
WHAT CAN BE FINANCING UNDER GOVERNMENT SMALL BUSINESS LOANS
Capital in the Canada small business loans program is used to either start a business (including a franchise by the way), and to grow and expand a company. One aspect of the ' secret language ' of the program simply knows what the loan can be used for. It's only for equipment, leasehold improvements, and real estate. By the way the ' equipment ‘category covers technology such as computers, telecom equip and application software.
Although the total program size is dwarfed by big business in Canada it still is a key component of the Canadian business finance landscape.
UNDERSTANDING SBL LOANS
Another aspect of the ' secret language ' of the SBL loan is the fact that business owners and entrepreneurs need to understand that it is a real, and viable alternative to business capital when they can't access it from the bank.
TRADITIONAL BANK FINANCING CAN BE A CHALLENGE!
Looking for some irony in your business life? Well here is some, while financial institutions such as Canadian chartered banks or a business credit union won't typically lend you funds to start a new business or franchise without personal collateral they are happy to do that when the Government backs up your loan. By the way... we're not complaining... we're ' just sayin' ...!
HOW DO YOU GET A GOVERNMENT SMALL BUSINESS LOAN
How does the business owner/entrepreneur ' decode' the approval process of SBL language in the loan program ? It's not as hard as you think.
You should be able to demonstrate :
Business experience
Provide a business plan and cash flow that make sense (and show repayment ability) ( 7 Park Avenue Financial prepares business plans and cash flow projections that meet and exceed bank and commercial lender requirements )
Be able to put a minimum of 10% down as your equity injection in the business
Yes of course government loans in Canada are debt - they are in fact structured as term loans on your balance sheet - but it's good debt when you're improving your business, acquiring assets, and generating profits. By the way, the actual rates and loan structures of the small business loan are simply very attractive, including the limited (and dreaded) personal guarantee.
CONCLUSION
Government loans via a financial institution such as a bank or credit union are a great financial tool when you can build and grow your sales. A lot of business failures simply revolve around not enough revenue via their marketing plan.
Consider Government loans in Canada, particularly the SBL small business loan as a way to get a new or existing small business to the next level. Seek out and speak to a trusted, credible and experienced Canadian business financing advisor with a track record of success in helping you achieve SBL loan approval/success and grow revenues around your products and services.
Click here for the business finance track record of 7 Park Avenue Financial
Stan Prokop
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