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Business capital requirements in Canada often boil down to some basic truths the business owner/financial mgr/entrepreneur needs to address when it comes to financing for businesses.

One of those truths? Knowing the true state of their financial condition and what financing they do and don’t qualify for when it comes to meeting commercial lending requirements in Canadian business.

Business Loans In Canada

Whether you are smaller or start-up firm looking for information on how to get a business loan or a larger established firm looking for growth financing or acquisition opportunities we’re highlighting 3 mistakes that commercial loan seekers like your company need to avoid making when addressing, sourcing and negotiating your cash flow / working capital and commercial financing needs.

1. Understand the true condition of your company finances – These are almost always successful addressed when you spend time on your financials and understand how your financial statements reflect your access to commercial loans & business credit in general

2. Ensure you have a plan in place for sales growth and financial needs as it relates to commercial financing

3. Understand that actual hard facts about cash flow which is, of course, the lifeblood of your company

Can you honestly answer or feel positive about all those 3 points. If so, pass Go and collect $ 100.00!

A good way to address your company’s finance plans is to ensure you understand growth finance solutions, as well as how to manage in a downturn – i.e. not growing, losing money, etc; It’s never fun to fund yourself in an economic or industry downturn such as the COVID pandemic of 2020!

When we talk to clients of new or established businesses it seems they are almost always talking about sales, so the ability to understand and focus on the differences in their profits and cash fluctuations is key.

How do cash flow and sales plans and projections affect the type of financing you require? For one thing sales growth usually starts out by consuming your cash, not generating it. A poor finance plan will drag your business down and addressing financing simply gets tougher and tougher.

Three basics always emerge when it comes to your search for the right business capital and financing.

1. The amount of financing you need

2. The type of financing (debt/cash flow/asset monetization) The business loan interest rate will be dramatically affected by whether you choose traditional or alternative financing solutions. Private business loans in Canada come from non regulated commercial finance companies most often known as ‘ alternative lenders ‘. These lenders are typically highly specialized in one ‘ niche ‘ of business financing and may be Canadian firms or branches of U.S. banks and non-bank lenders

3. How the financing is structured to be manageable with your day to day operations

What Finance Company In Canada Can Meet Your Borrowing Needs & Why Is Capital Important In Business

Let’s identify and break down key financings your firm should know about and understand if they are applicable and achievable to your business. They include:

A/R Financing / Factoring / Confidential Receivable Finance

Inventory finance / floor planning / retail inventory

Working Capital term loans

Unsecured cash flow loans

Merchant working capital loans/advances – these loans are geared toward short term cash needs and are typically one year in duration. Loan amounts are typically 15-20% of your annual sales revenues.

Royalty finance

Asset based non bank business lines of credit

Tax credit financing (SR&ED bridge loans)

Equipment Leasing / Sale leasebacks – Equipment financing in Canada is used by almost 80% of all companies looking to acquire new, and used, assets.

Govt Guaranteed Small Business Loan program – Government Loans in Canada are sometimes referred to as ‘ SBL’, aka Note: BDC Finance solutions are available from this Canadian non-bricks and morter crown corporation. A small business loan via the government-guaranteed loan program comes with true flexibility around term loan duration, market rates, no pre payment penalties, and of course the low personal guarantee that is required by borrowers. These two ‘ government ‘ loan solutions are often perfect for financing a new business.

If you’re focused on not making mistakes in your business finance needs and want to capitalize on the solutions your competitors are probably already using seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your cash flow and commercial financing needs.

Stan has had a successful career with some of the world’s largest and most successful corporations.

His employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) In 2004 Stan founded 7 PARK AVENUE FINANCIAL – He is an expert in Canadian Business Financing.

Many people enjoy travelling and will always do so at any available opportunity. Some people travel often because it is part of their job requirements. There are those who rarely travel but will gladly do so once in awhile especially during vacations. When leaving your home for a night or more, it is always very important to take along with you everything you need to make yourself as comfortable as possible for the period you are away from home. Also take with you everything you need to fulfill the purpose of your travel, such as things you may need if you are on official/ business trips. If you forget something you would have taken for your travel, it may not only frustrate you but also sour your spirit, You may even incur extra expenses because you may be forced to buy something you would otherwise not have bought. So it is important you plan ahead and decide what you need for your journey and what kind of suitcase or luggage bag will be most suitable for your journey. What you may need for your journey and the type of travel bag you will need depends on the length of time you will be away from home and also the mode of your travel. What you may need for a business trip will be different from your needs when going for a vacation. When you have made a good mental recollection of what you need for your travel and your mode of travel (travel by air or drive yourself to your destination), you then have to decide on the type of travel bag to pack your things in. You have to choose the type of suitcase or travel/ luggage bag that will give you the greatest flexibility and allows you to travel light.Traveling With Luggage Bags /Garment Bags for Official/ Business TripsMost people prefer to fly if they are travelling for official or business purposes such as attending business meetings or going for conferences. In this case you may be spending a night or two away from home, then your best choice of travel bag may be a carry-on bag with wheels or a messenger bag. The messenger bags and rolling bags are available in many sizes ranging from 13″ to 21″. Each of these travel bags lets you travel light because you can fit your computer into your travel bag. The unique design of each bag allows you to comfortably store your notebook/iPad in addition to clothing and personal accessories in the same bag. Each bag has special overnight luggage section that provides enough room for the clothes you need while on your journey. Each bag is perfect for short official/business trips. Each type of carry-on case has all necessary notebook case features including a zip-down workstation with storage for your mobile accessories, pen loops, key clip and business card holder. The rolling carry-on bags have smooth-rolling wheels and telescoping handle that makes the rolling case a perfect companion for the businessperson on the go.Some people may prefer to travel with a garment bag, computer /notebook carrying case or a multipurpose handbag (for women). The garment bag is great for protecting clothes while traveling. The clothes stay neat and wrinkle free. The garment bag has multiple pockets and can hold up to 4 garments. It has four interior pockets that provide enough room for shoes and accessories like cosmetic/makeup bags, toiletry bags and curling hot iron cases. It also has one exterior pocket where you can put the book you want to read on the plane or any other thing you want to be handy while you are on the plane. This garment bag is very stylish, lightweight and durable. It has full-length center zipper that gives you easy access to the inside. It also has full exterior zipper closure that ensures that everything inside the bag is secured. When you have packed everything you want inside the bag, you can fold the garment bag into two. The bi-fold bag has two handles that makes it easy to carry. It also has a metal hanging hook that allows you to hang it on a wall. You can then use your multi-purpose handbag or computer/notebook carrying case to carry your computer/iPad.Some other travelers may prefer to travel with an overnight bag. The overnight bag has zippered main closure with three zippered side pockets and two Velcro end pockets. It has adjustable shoulder strap and carrying handle. It also has a black linen inside lining that makes it great for wiping out and keeping clean.Travel Accessories- Snoozer – Travel Neck Pillow / Blanket in VeluraBeside the travel/ luggage bags that you need to pack everything you need for your journey, you may consider other travel accessories such as a luxurious Velura covered neck rest that not only carries a soft, easy care Velura 40″ x 60″ blanket inside, but also has an inflatable pillow that allows you to enjoy a warm and comfortable trip. The PVC inflatable pillow is easy to inflate and deflate and the blanket is so soft that it easily folds back into the pillow cover. This snoozer-travel neck pillow/blanket in Velura is a compact, easy to carry travel item that you can use to provide comfort for yourself on any journey. This travel accessory is ideal for business or recreational travelers.What You May Need When going on Family VacationMany families choose to travel by road when on a family vacation; Travelling together in a car is part of the close family experience that every family cherishes and long for every year. Preparing for this long travelling experience for the families can be a sweet challenge for parents, especially when the journey involves very young kids. The thought of how to keep them engaged and entertained all through the long journey can also be daunting.It is no brainer to say that you need suitcases to pack the family’s clothing and needs while on vacation, The challenge is what type of suitcases do you need. Do you need a suitcase for everyone in the family or do you need to put everyone’s clothing in a common suitcase? Depending on the number in the family and the ages of the kids, you may have a common suitcase for clothing and another for other accessories. Alternatively, each kid can pack his/her accessories in his/her backpack, while you have a common suitcase for everyone. In another arrangement, you can let everyone in the family use a garment bag to pack both his/her clothing and accessories. This is one of the “sweet-bitter” choices parents have to make.Use A Thermal Cooler Bag to Pack Enough Cold Drinks For Everyone While On The JourneyDepending on the length of the journey you might want to travel with enough cold drinks packed in a thermal cooler bag. The thermal lining of the cooler bags prevents the drinks from absorbing heat as such the drinks will remain cold for a very long time. The idea is for you not to stop to buy cold drinks each time any member of the family wants something cold to drink. Having sufficient cold drinks handy when you need them gives you enough driving time and also lets you stop only when you need to break the journey for any other thing other than just buying some cold drinks.Make Your Kids Comfortable With Kids’ Travel AccessoriesBesides having enough drinks handy for anyone who needs it during the journey, it can also be a challenge to keep the kids comfortable during a very long journey. You can keep your kids comfortable all through the journey by allowing them to use kids’ travel accessories such as travel buddies. Kids’ travel buddies are ultra soft neck pillows that allow kids to snuggle with their buddy while “visiting the land of dreams!” These buddies that are available in different animal characters are perfect for strollers, cars and any other place kids drop off to sleep.Scosche backSTAGE pro II Vehicle Mount for Tablet PCApart from providing cold drinks for your kids when they need them and making them (kids) comfortable while they sleep during the journey, keeping the kids engaged during the course of the journey is another challenge. Some parents allow the children to read their books during the journey, and play their video games when they are tired of reading. These are good ways to keep your kids engaged. Another way is to have them watch videos/movies on iPad while you drive. In this instance, backSTAGE pro II is very suitable. Use the backSTAGE pro II to securely and rugged mount your iPad 2 to the back of any headrest so that your children can enjoy hands free viewing of movies, apps, games while you drive. This device is ideal to keep your family entertained with ease when you are on a long journey. The backstage pro II has a charger that plugs directly into the headrest mount and provides a continuous charge to your iPad 2. It has wireless IR headphones for private listening and a USB port that supports flash drive use for viewing images.These are some of the things you need to consider when preparing for a business trip or family vacation, to ensure that you have the most comfortable journey whether you travel by air or travel by road with your family on a vacation.