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Business Loans In Canada: Financing Solutions Via Alternative Finance & Traditional Funding

Business loans and finance for a business just may have gotten good again? The pursuit of credit and funding of cash flow solutions for your business often seems like an eternal challenge, even in the best of times, let alone any industry or economic crisis. Let’s dig in.

Since the 2008 financial crisis there’s been a lot of change in finance options from lenders for corporate loans. Canadian business owners and financial managers have excess from everything from peer-to-peer company loans, varied alternative finance solutions, as well of course as the traditional financing offered by Canadian chartered banks.

Those online business loans referenced above are popular and arose out of the merchant cash advance programs in the United States. Loans are based on a percentage of your annual sales, typically in the 15-20% range. The loans are certainly expensive but are viewed as easy to obtain by many small businesses, including retailers who sell on a cash or credit card basis.

Depending on your firm’s circumstances and your ability to truly understand the different choices available to firms searching for SME COMMERCIAL FINANCE options. Those small to medium sized companies ( the definition of ‘ small business ‘ certainly varies as to what is small – often defined as businesses with less than 500 employees! )

How then do we create our road map for external financing techniques and solutions? A simpler way to look at it is to categorize these different financing options under:

Debt / Loans

Asset Based Financing

Alternative Hybrid type solutions

Many top experts maintain that the alternative financing solutions currently available to your firm, in fact are on par with Canadian chartered bank financing when it comes to a full spectrum of funding. The alternative lender is typically a private commercial finance company with a niche in one of the various asset finance areas

If there is one significant trend that’s ‘ sticking ‘it’s Asset Based Finance. The ability of firms to obtain funding via assets such as accounts receivable, inventory and fixed assets with no major emphasis on balance sheet structure and profits and cash flow ( those three elements drive bank financing approval in no small measure ) is the key to success in ABL ( Asset Based Lending ).

Factoring, aka ‘ Receivable Finance ‘ is the other huge driver in trade finance in Canada. In some cases, it’s the only way for firms to be able to sell and finance clients in other geographies/countries.

The rise of ‘ online finance ‘ also can’t be diminished. Whether it’s accessing ‘ crowdfunding’ or sourcing working capital term loans, the technological pace continues at what seems a feverish pace. One only has to read a business daily such as the Globe & Mail or Financial Post to understand the challenge of small business accessing business capital.

Business owners/financial mgrs often find their company at a ‘ turning point ‘ in their history – that time when financing is needed or opportunities and risks can’t be taken. While putting or getting new equity in the business is often impossible, the reality is that the majority of businesses with SME commercial finance needs aren’t, shall we say, ‘ suited’ to this type of funding and capital raising. Business loan interest rates vary with non-traditional financing but offer more flexibility and ease of access to capital.

We’re also the first to remind clients that they should not forget govt solutions in business capital. Two of the best programs are the GovernmentSmall Business Loan Canada (maximum availability = $ 1,000,000.00) as well as the SR&ED program which allows business owners to recapture R&D capital costs. Sred credits can also be financed once they are filed.

Those latter two finance alternatives are often very well suited to business start up loans. We should not forget that asset finance, often called ‘ ABL ‘ by those Bay Street guys, can even be used as a loan to buy a business.

If you’re looking to get the right balance of liquidity and risk coupled with the flexibility to grow your business seek out and speak to a trusted, credible and experienced Canadian business financing advisor with a track record of business finance success who can assist you with your funding needs.

Shoe Repairs And Several Other Things When I Was 7

Shoe Repairs And Several Other Things When I Was 7
My Dad repaired most of our shoes believe it or not, I can hardly believe it myself now. With 7 pairs of shoes always needing repairs I think he was quite clever to learn how to “Keep us in shoe Leather” to coin a phrase!

He bought several different sizes of cast iron cobbler’s “lasts”. Last, the old English “Laest” meaning footprint. Lasts were holding devices shaped like a human foot. I have no idea where he would have bought the shoe leather. Only that it was a beautiful creamy, shiny colour and the smell was lovely.

But I do remember our shoes turned upside down on and fitted into these lasts, my Dad cutting the leather around the shape of the shoe, and then hammering nails, into the leather shape. Sometimes we’d feel one or 2 of those nails poking through the insides of our shoes, but our dad always fixed it.

Hiking and Swimming Galas
Dad was a very outdoorsy type, unlike my mother, who was probably too busy indoors. She also enjoyed the peace and quiet when he took us off for the day!

Anyway, he often took us hiking in the mountains where we’d have a picnic of sandwiches and flasks of tea. And more often than not we went by steam train.

We loved poking our heads out of the window until our eyes hurt like mad from a blast of soot blowing back from the engine. But sore, bloodshot eyes never dampened our enthusiasm.

Dad was an avid swimmer and water polo player, and he used to take us to swimming galas, as they were called back then. He often took part in these galas. And again we always travelled by steam train.

Rowing Over To Ireland’s Eye
That’s what we did back then, we had to go by rowboat, the only way to get to Ireland’s eye, which is 15 minutes from mainland Howth. From there we could see Malahide, Lambay Island and Howth Head of course. These days you can take a Round Trip Cruise on a small cruise ship!

But we thoroughly enjoyed rowing and once there we couldn’t wait to climb the rocks, and have a swim. We picnicked and watched the friendly seals doing their thing and showing off.

Not to mention all kinds of birdlife including the Puffin.The Martello Tower was also interesting but a bit dangerous to attempt entering. I’m getting lost in the past as I write, and have to drag myself back to the present.

Fun Outings with The camera Club
Dad was also a very keen amateur photographer, and was a member of a camera Club. There were many Sunday photography outings and along with us came other kids of the members of the club.

And we always had great fun while the adults busied themselves taking photos of everything and anything, it seemed to us. Dad was so serious about his photography that he set up a dark room where he developed and printed his photographs.

All black and white at the time. He and his camera club entered many of their favourites in exhibitions throughout Europe. I’m quite proud to say that many cups and medals were won by Dad. They have been shared amongst all his grandchildren which I find quite special.

He liked taking portraits of us kids too, mostly when we were in a state of untidiness, usually during play. Dad always preferred the natural look of messy hair and clothes in the photos of his children.

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Check For These Signs Before Starting an Online Business

Everyone wants to have a taste of the good life. This is the reason some work beyond the working hours, log up overtime work and work two jobs. And for the others who want to have their own way and be their own boss, starting a business is the best ticket to the good life. Every option works as long as you put your mind and effort to it. But the way things are shaping up; it seems that starting a business seems to be the most preferred way of many.This choice was clear during the height of the economic crisis where jobs are cut, outsourced or completely eliminated. And among the many ways to start a business, one that gained ground is starting an online business. Having one’s own online business is attractive. Just imagine, running your own business in your pajamas from the comfort of your own home! This is the appeal of starting an internet business- you have the time in your hands and you can work from your home or anywhere you see fit.But just because thousands of people have embraced their own online business doesn’t mean that this is best for you as well. Before you jump into a business venture online, you need to make sure that this kind of arrangement is best for you. Learn to check the signs that you are indeed fit for this kind of arrangement.To get you started, here are some signs that will tell you that an online business is best fit for your needs and personality. Try to assess yourself before dipping your fingers in an online business venture.• You are tired of the usual 8-to-5 routine and business is your passion. If this is the case, then the best move for you is to start your own business.• You are in control of the situation and can make decisions in a snap. Given a set of problems, you know what to do and what to rank. Having a good decision-making ability and a good grasp of the situation are important in running a business. And if you enjoy planning and undertaking the plan, then having your own business is a good idea.• In your current job, you feel that your boss is not giving you the opportunity to take the initiative and you are not given the flexibility you need to get the job done. You think that you have the focus and the self-motivation to do the job and you don’t pay much attention to the other rewards whether monetary or in kind.• You want to take advantage of the growing industry online and the growing number of freelancers and online entrepreneurs.• The chance of earning your own money, in your own time excites you. You are excited and feel inspired about the stories of start-ups that become BIG companies. From Apple to eBay, you followed their stories on how they start small and became two of the biggest names online. You also like the idea that you can make your own money that is yours and will not be pooled to become part of the company’s earnings for the year.• You want to do interesting things your way. This is the beauty with starting an internet business. You have the option to only do the things that don’t bore. For all other aspects of an online business that don’t appeal to you, you can always delegate these tasks or outsource these jobs.• You want flexibility not just in the hours worked but in the place where you actually work. When starting an online business, you free yourself from the usual 8-to-5 routine and you are no longer tied to the desk and office chair. You can work from your study, from a coffee shop or even while waiting for the bagel to be served!Learn to pay attention to these common signs before you jump into the bandwagon. Sure there are tons of success stories out there, but keep in mind that all these happened because they are fit for the task. Test yourself if you are up to the task; learn to figure out the signs before starting an internet business.Dany Cooper

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