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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 - INFO@7parkavenuefinancial.com
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
Direct Line = 416 319 5769
Email = sprokop@7parkavenuefinancial.com
Growth financing for Canadian businesses in the SME (small to medium enterprise) sector has the chance to go awry sometimes. Funding for your business expansion requires a ' blueprint ' that allows you to meet your goals. Let's dig in.
Many top experts tell us that we're in ' boom times' regarding current economic status, low-interest rates, strong equity markets, etc. Not everyone agrees we're in boom times, but if that's the case then how then does the business owner/financial manager address their ability to meet their growth goals?
One way to think about this in a manner that large corporations do is to utilize the concept of ' zero -based growth'. It's essentially all about using your existing assets to find achievable ' low cost' growth options. That, coupled with utilizing financing that makes sense is a winning strategy. Essentially it's all about maximizing your assets and getting maximum impact from any type of financing you can achieve.
Not all businesses can access the cash they need to grow. While most agree that Canadian chartered banks provide the lowest capital cost, business borrowing for the SME sector certainly has its success limitations. If you're unable to increase your sales via existing borrowing, that's a whole other challenge.
Many business owners/managers feel they have to borrow for assets to increase production. Utilizing borrowing solutions such as equipment lease financing allows you to maximize production and limit cash outflows. Even used equipment can be financed these days if it has a value.
In certain cases it makes solid sense to refinance existing assets using a ' SALE LEASEBACK ' approach, allowing you to take on more production with assets you already owned.
Are their other ways to monetize assets without taking on additional debt on your balance sheet? There certainly are. They include:
A/R Financing
Inventory Finance
Monetizing SR&ED tax credits if your company utilizes this popular program
Maximizing borrowing capacity via ABL ' non bank' business lines of credit
PO/Contract financing
Sales/Royalty Finance
In many cases, simply utilizing the right type of financing and avoiding taking on major new debt can significantly improve your chances of growing your business.
It goes without saying that a well thought out business plan and realistic cash flow plan will also provide you with the blueprint for growth success you've been looking for. Seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your funding and business expansion needs.
Stan Prokop
