How To Increase The Odds Of Successful Business Financing In Canada. Funding Your Company With Cred

We're sticking our necks out a bit by saying that in general gambling is not a good

thing but when it comes to business financing there are a lot of ways the business owner / financial manager can increase the odds of funding their business with proper business credit and loan solutions.

It's a question of maximizing relationships and knowing at what point in time you need to seek debt or equity options. Most business owners would agree that finding the right solution is hard enough then comes the challenge of ensuring in a step by step basis that you can successfully complete that financing. In Canada some forms of business funding can be completed in hours ( example - leases for assets under 50k) while at the other end of the spectrum larger more complex solutions can take days, weeks, and unfortunately even months . Being unprepared for such timelines as is needed often leads to serious problems.

Knowing what those sources of financing are in Canada is half the battle - there typically is more than you think, and when you are focused on the right solution you have probably already increased your odds.

If we had to summarize in a fairly concise form the major sources of business financing, from a debt and asset monetization point of view (not equity) they would be as follows:

Receivable finance

Inventory Financing

Equipment Financing

Asset based lending

Traditional bank lines

Term Loans

Unsecured cash flow loans / mercerization

Supply chain / Purchase order funding

Tax Credit Monetization

How then do you decide what fits when? We won't weigh into the debate f whether there is too little or too much capital around these days, but we can guarantee the business owner/manager there somewhere out there is a solution that works for them. The business owner often focuses on Canadian chartered banks for many of the solutions we have noted above. We've done that for hundreds of years, so why change things, right?

The reality though is that many non bank commercial entities - i.e. leasing companies, non bank asset based lenders, niche players in PO finance and Tax Credits etc provide billions of dollars of financing and funding solutions for business everyday . How to get those solutions to trickle down into exactly what your business needs is the challenge.

If you feel that your total knowledge of business funding solutions is limited and have a real desire to expand the range of solutions available for your challenges seek out and speak to a trusted , credible and experienced Canadian business financing advisor who can assist you with your commercial credit and loan needs. Doing that increases ... the odds!

by: sprokop

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