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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?
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EMAIL - sprokop@7parkavenuefinancial.com
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Oakville, Ontario
L6J 7J8
Financing business expansion in Canada doesn’t necessarily have to seem a remote reality for growth finance options available to the Canadian business owner/financial management. In fact, having worked with hundreds of clients over the years, we're quite sure that a journey for proper business finance solutions may well seek like a trip to ‘Dismaland.’
Dismaland? Check it out. It’s somewhat of a perverse real-world play on Disney's famous theme park, only with a sinister note for those not familiar. But we digress, so let's dig in.
When your firm is at the stage where you wish to expand, especially when it comes to SME COMMERCIAL FINANCE options (small to medium-sized enterprises in Canada), it might seem not that obvious where capital will come from.
Business owners/financial managers have, right or wrong, focused on ' banks' and ‘venture capital/angel investors' in many cases. Suffice to say that there are numerous options (including some ' internal ' ones) that will allow you to handle new orders, acquire a competitor, or get your business quickly out of the gate if you're a start-up. Some may be willing to give up ownership equity via a partner or silent partner arrangement.
Bank credit lines are a good example of financing your expansion plans. If your company qualifies (established, profitable, collateral worthy, etc.), it's a solid option. In fact, we just saw a TV commercial saying banks want your business.
The alternative to a bank credit line facility is the 'ABL.' It's an ' asset based' line of credit that combines your receivables, inventory and equipment into one borrowing base you draw from daily... only as needed.'
Those other financing options? It boils down to assessing internally when and why you need the funding. When it isn’t from Canadian chartered banks, those options are satisfied by commercial lenders who offer a variety of growth options.
For those firms that have built an asset-based business, the SALE LEASEBACK option is a solid growth capital tool. You still keep and use the assets and acquire them back over a lease-to-own strategy - thereby freeing up cash through that process. Typically an appraisal will be required.
The bottom line? Focus on whether you're prepared to take on ‘debt’... or give up ' equity ‘. And by the way, growth can also be generated internally simply by pricing your product and services properly with good margins and ensuring asset turnover in A/R and inventories is optimal.
A trip to ' DISMALAND' is not a requirement when you want to grow your business and sell more products and services. Speak to 7 Park Avenue Financial, a trusted, credible and experienced Canadian business financing advisor who can help you ensure chances for financing business expansion are available.
Click here for the business finance track record of 7 Park Avenue Financial
