Understanding The Canadian Government Business Loan - Federal SBL Loans Work For New & Existing Businesses

The Canada Small Business Loan Program – Yours To Discover!

Information on the government business loan program in Canada. How the federal SBL financing program loans for your new and existing business makes you eligible for $ 350,000.00 in financing for your new or existing business.





As some , certainly not all ( that’s why we're here) Canadian business owners know the federal government has a long standing and very successful business financing program , aka the ' government business loan '. It’s a federal program in Canada, sponsored by INDUSTRY CANADA, and it is probably suited for your new or existing small (New or under 5,000,000.00$ in revenue) business capital needs.

There's just one problem we’ve perceived over the years. Simply that understanding how the program works, and how you get approved seems to be a mystery to a lot of the clients we meet looking for this type of financing.

Let’s examine some of the key underpinnings of the program, focusing on what this great financing program does, and, more importantly, how you get approved.

First of all, talk about a great partner for your loan. Have you ever needed a co signer? Here's one for you, the government of Canada! We heard their credit is excellent! What we mean of course, when we speak to clients about the program is that the government guarantees the majority of your loan to the bank that underwrites and administers your financing. Talk about a good deal. And you thought you might have to ask your brother in law!

Naturally it goes without saying that this incents the banks and some other institutions that offer the loan to provide your firm with financing that you might not otherwise be able to achieve in a normal traditional financing request.

So we all agree it’s a challenging business financing environment out there. So how can government business loans help your firm?

First of all they finance only 3 things, and that always seems to be a mystery to clients who think the program is a cash or working capital loan. It is not! The three items that the program finances are equipment, leasehold improvements, and real estate. Under the equipment category many of our clients choose to also finance software, which is allowed under the program. And by the way, that’s application software, not software you are going to develop yourself.


So how does a business owner navigate, successfully, the program? We assure clients that you can almost assuredly guarantee yourself approval by following a very specific course of action. There are numerous conditions that can negatively affect your chances of approval, and if you know them you can avoid them.

It’s quite frankly all about your proposal, how it’s presented, to whom its presented, and ensuring you have the basics covered. Those basics are as follows - a minimum 10% equity investment in the financing, reasonable personal credit, a business finance plan that clearly identifies you, your business, and some financial projections that make sense relative to the loan amount you are requesting.

So, the bottom line, you can make understanding the Canadian government small business loan complicated, or easy. We're for easy, so if you want some practical direction in getting a small business loan up to 350,000.00 in place speak to a trusted, credible and experienced Canadian business financing advisor on the positive expectation of an SBL loan approval.



ABOUT THE AUTHOR : STAN PROKOP

7 PARK AVENUE FINANCIAL

Canadian Business Financing !

We finance the little guy ! P.S. We finance the big guys too!


http://www.7parkavenuefinancial.com/government_business_loan_loans_federal_new.html

Heard About Canadian Government Business Loans? Why Lending Under The SBL Loan Is Right For Your New Or Existing Business.

Don’t Forget to Check Out The Gov’t Small Business Loan Program

Information on the ‘ SBL ‘ loan , and why government business loans are the perfect financing and lending vehicle for new or existing businesses in Canada.




Small is big... in fact it’s huge! We’re talking about small business in Canada, and as most business owners know the large majority of all businesses in Canada are in fact ' small '. Small is relative of course. But when as a whole they represent a huge portion of employment and commercial sales it’s about time we acknowledged it.

Government business loans are one way in which our key business segment, the SME sector is in fact acknowledged. Its lending specially constructed for the small business owner; a loan new or existing business that makes sense, and in fact has attractive terms.

The simple reason why the government SBL loan should be so attractive to yourself as a business owner is simply that boy is it hard to get the financing you need, in case you haven’t found that out already.

Yes many alternative finance choices have become more popular... financing such as receivable finance, P.O. finance, tax credit monetization, bridge loans on equipment, etc.. but without a doubt the ' big kahuna' of small business finance is still traditional government business loans.

Even though Canadian banks can, we feel, quite legitimately be called conservative lenders the hard fact is that the financing they put through the government SBL lending loans is actually guaranteed in large part by the Federal government.

To its credit INDUSTRY CANADA, the department that administers the program has stayed to the program. Through recent economic recessions, market turmoil, etc the program has remain unchanged. Unchanged? Well not truly correct, because in fact the program got better!

During the 2008-2009 financial worldwide debacle Canada actually increased the loan amount under the program by $ 100,000... going from 250k to 350k. And the personal guarantee that you are required to make under the program remained the same, only 25%. Try and get any other business financing without a 100% guarantee backed by you personally... its simply not available.

But it’s still a tough environment out there; you need knowledge on which bank to deal with (the banks administer and fund the program under the government rules and guidelines). Additionally you need ' BOY SCOUT EXPERTISE “ ... by that we mean the motto ' BE PREPARED' never sounded better as applicable to ensuring government new business loans are achieved in a timely manner, securing the funding you need.

Simply speaking, knowing the rules, and putting some basic common sense strategies toward those rules allow you to get approved, as well as receiving the loan you need via our vehicle, the SBL loans in Canada.

You can greatly improve your chances of getting a government business loan, aka the ' SBL ‘. Knowing what conditions will in fact not allow you to get the loan is valuable information.

Speak to a trusted, credible and experienced Canadian business financing advisor on getting a proposal and package in place that virtually guarantees you approval under the program if you have covered off some very basic pre-requisites. Government business loans may be the perfect solution to the financing you need - check the program out!



ABOUT THE AUTHOR - STAN PROKOP

7 PARK AVENUE FINANCIAL

CANADIAN BUSINESS FINANCING !


http://www.7parkavenuefinancial.com/government_business_loan_loans_new_lending.html