YOU ARE LOOKING FOR THE GOVERNMENT BUSINESS LOAN!
THE BEST SMALL BUSINESS LOAN IN CANADA?
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
SBL Loans in Canada. It's the government guaranteed small business loan program in Canada; so why should you or your firm be interested?
WHO IS BEHIND THE SMALL BUSINESS FINANCING GOVERNMENT GUARANTEED LOAN
The Canadian government, via Industry Canada, has provided this' ' small business ' loan program for years in an effort to help businesses in the SME sector (in this case those with sales or projected sales under 10 Million $) get the financing they need through the loan guarantee.
Each year thousands, and we mean in the 8000 range, of companies, receive access to Billions of dollars of funding for the purchase of assets, technology, software, and yes, even leasehold improvements - paint and drywall and HVAC included!
If your new, or established small business is looking for financing, and government ' grants' are not the option the small business financing program sponsored by the Canadian government just might be the financing solution you are looking for.
But does this loan make sense for your company, and, if it does, how do you access the program? Is there the proverbial ' red tape ' that most of us associate with 'I'm from the government and we're here to help'!
Nothing against our good friends in the government, but clients are surprised to know they have no, repeat ' no ' direct ' interaction with the government for this type of business loan.
WHO DELIVERS THE GOVERNMENT LOANS?
That's because the government has designated Canadian chartered banks, and a few other miscellaneous institutions with providing this loan. It's somewhat ironic that even the government quasi bank, the ' BDC ' is in fact not even able to provide these loans. The interest rate on the SBL loan is also very attractive and competitive, as well as having other benefits such as repayment flexibility, or choosing between interest rates that are variable or fixed. A typical loan amount under the program is in the 350k range or less, although the formal loan cap is in fact 1 Million dollars!
So the bottom line is that your transaction is directly done with a ' hopefully ' knowledgeable banker that understands your business needs and the program. The government guarantees a large portion of the loan to the bank once your transaction is approved, and repays the bank in a worst-case scenario.
But we're talking about getting the loan, not defaulting on it!
WHAT CAN BE FINANCED UNDER THE SBL LOAN?
To recap, SBL loans can be used to expand or modernize any facility as long as your business is in that facility. This is not a real estate flip financing program, trust us on that one! Additional assets under the program that can be financed include machinery, equipment, furniture, and leasehold improvements.
WHAT CAN'T BE FINANCED UNDER THIS LOAN?
What cannot be financed under the program? Unfortunately, many clients think it’s a cash loan, a working capital loan, or an inventory and receivables financing loan. It is none of the above. Small business financing does need cash flow and working capital solutions but those two categories of funding cannot be financed - luckily we at 7 Park Avenue FInancial have those covered also!
So how does one qualify for the program? As we said, it’s a lot easier than you think, and if you are successful rates, terms and structures are excellent, including a limited personal guarantee.
CONCLUSION
Speak to a trusted, credible and experienced Canadian business financing advisor on how you can benefit from this solid financing alternative for either your start-up business or an existing one in which sales are under 5 Million dollars. Small businesses in Canada always need business capital so let 7 Park Avenue Financial help you source the funding you need to run and grow business. That might be financing new computers, addressing leasehold improvements, or purchasing real estate for your company - all of that can be financed via the SBL loan
P.S. You'll be please to know that you can even purchase an existing business, or franchise, under the program!
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Stan Prokop
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