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.

3 Tips to Consider Before Getting a Payday Loan

If you have come across financial difficulties and have already paid all your bills and are waiting to get your next paycheck you may have considered getting a payday loan. A payday loan is a loan that a participating financial institutes offer that gives up to a certain amount of money under the agreement that you will pay them back on your next payday plus interest. This type of loan can be very helpful for those who are facing hard times or come across an unexpected emergency such as a broke down car, plumbing problems, or unexpected medical bills. There are some things one needs to consider before getting a payday loan.To begin with you will want to take into consideration if you qualify. Before you assume that you are even eligible to receive a payday loan you must meet certain qualifications. Most facilities require that you have a job and pay stub. You also must make a certain amount of money per month to get a loan. You will also need a driver license or ID. There are other requirements companies may have depending upon which company you choose to go to. Some companies may require a credit check and require that you have fair or decent credit.
It is important to call each facility and ask them what they need from you so that you are able to provide the proper documentation so you can get approved.The next thing you will need to consider about payday loans are that you are not only going to be paying your loan amount back but the majority of the time you will be paying back an extremely high interest rate as well. This is how companies that do payday loans get their profit. They will loan you a certain amount of money, but you are going to be looking at a heft amount in interest too. You need to ask yourself if it is really worth the extra amount of interest you are going to be paying back and if you might need to consider exhausting other means. If you do not have the means to pay back your payday loan plus the extra money in interest you will be paying, you should probably avoid getting one.The last thing about payday loans you should take into consideration is if you live by a strict financial budget. If you are having to adhere to a budget and you know that you do not usually have any extra left you should avoid doing payday loans. Payday loans are for emergency situations and should be treated as just that. Many people fall into a dangerous financial trap where they take out one payday loan pay it back and then immediately take out another. This is something that should be avoided at all costs. You have to think about the repercussions of if you are not able to pay the loan back due to the fact you get ill and cannot work or there is a problem with your paycheck and you cannot get your payday loan paid back by the time it is due. When you agree to do a payday loan you must remember this is a legal binding agreement you should not take lightly. To break this agreement can have serious repercussions.In conclusion payday loans can be a real lifesaver in helping people out of hard financial situations. They should just take into consideration all the aspects of it, and then they will know exactly what they are getting themselves into and how to be responsible with their payday loans.

Lettuce Gardening Tips

Gardeners can select from a large variety of lettuces that are easy to grow, highly productive in limited space, and virtually pest and disease free. Lettuce is definitely one of the more “care-free” crops. Lettuce is a great way to start gardening; it is what I started out with actually. There are a few key principles though that should always be kept in mind.LettuceFor maximum lettuce production, it’s wise to select a site where the soil drains well, yet retains some moisture. The soil should also be rich in nitrogen and potassium, The best way to accomplish this is to work in plenty of organic matter (compost, rotted manure, or leaf mold) that will loosen and enrich the soil.Most lettuce varieties mature in 45 to 55 days, allowing many gardeners to plant two or even three crops. But looseleaf and butterhead leaves can be harvested at just about any time in their development. Heading varieties take longer to mature. Romaine takes 75 to 85 days and crisphead 70 to 100 days.By choosing the right varieties and with these lettuce gardening tips, it’s possible to have lettuce in your garden throughout the growing season. This lettuce is great for salads throughout the growing season. There really is nothing better than a fresh Caesar salad with fresh romaine from the garden!Lettuce Gardening TipsLettuce HistoryLettuce, one of the oldest food plants known to man, is believed to have originated in India and Central Asia. Even Herodotus wrote of lettuce being served in ancient Greece, and it was a most favorite vegetable in ancient Rome. This is where we get “Caesar Salad”! In fact, the word “lettuce” is derived from the Latin root word “lac” meaning “milk,” referring to the milky juice found in mature lettuce stems.Columbus and other European explorers brought lettuce seeds to the New World. Our early colonists included lettuce in the first gardens planted in American soil. Today, lettuce is a favorite vegetable here and around the world. It has revolutionized all cultures of food, from hamburgers to salads.More Lettuce Gardening TipsLettuce is so easy to grow it can be started indoors for early transplants or sown directly in the garden. In fact, doing both is recommended to get maximum production. Lettuce seeds are extremely tiny, so it is recommended to be generous with them when planting. It is a good idea toRomaine Lettucestart some lettuce seeds indoors in peat pots a few weeks before the last frost date in your area. Provide the seedlings with plenty of sunlight or keep them under artificial lighting until ready to move into the garden. Transplant the seedlings as soon as the soil can be worked in the spring. If a hard freeze threatens, protect the seedlings with a cloche or row cover. Reserve a number of lettuce seedlings to fill empty spaces in the garden as the season progresses.To sow lettuce directly in the garden, simply plant the seeds about 1/4 inch deep, tamp them down, and water. It’s that simple! Space the sowings according to packet directions that are based on the size of the mature lettuce. For example, a crisphead may require a square foot of garden space. As many as nine plants of a small leaf lettuce variety can grow in the same space.Keep in mind that lettuce seeds won’t germinate in soil that is 80 degrees F. or warmer, so there’s no sense in sowing directly in the garden in the summer. Resort to starting heat-tolerant varieties indoors and moving the lettuce seedlings into the garden, preferably under partial shade, after they’ve developed a few true leaves.Lettuce CultivationHere are two cultivation tips to keep in mind:Succession plantings.Lettuce is ideal for succession planting. Sow seeds every two weeks for production throughout the season, starting with early lettuce varieties, using heat-tolerant varieties as your main crop, and then switching to fall crops late in the summer. Or, if you prefer, use lettuce in successions with other crops. For example, plant lettuce in the spring, followed by bush beans in the summer, followed by lettuce again in the fall.Watering.The key to lettuce production is supplying moderate but almost constant water, especially during hot weather. Unless there is regular rainfall, lettuce must be watered deeply at least once a week- more frequently during periods of drought. Mulch with a layer of compost or clean straw to help the soil retain moisture. A drip-irrigation system is ideal.Lettuce Growing TipsTo improve overall lettuce production, consider using the following four techniques.Raised beds.To maximize lettuce production, plant seeds in raised beds. The raised beds warm up faster than the surrounding ground. You should be able to get an earlier start in the spring and a later crop in the fall. Raised bed gardening is, without a doubt, the best way to garden anything out there. Its simplicity, organization, incredible fertility, and results are astounding.Living mulch.To make the most of limited garden space, plant lettuce around taller plants like broccoli, Brussels sprouts, peppers, and eggplants. This helps the lettuce grow a lot better; if they are left in the beating sun without moisture, they will not be able to survive. The lettuce helps its neighbor by keeping the surrounding soil moist and cool and keeping weeds shaded out. As the taller plants grow, they provide needed shade for the lettuce as the days get warmer.’Tucking.’You can also start lettuce seedlings indoors for filling vacancies in the garden in late spring and again in early fall as other crops are harvested. Simply ‘tuck’ a seedling in the vacant spot to keep every inch of garden space in constant production.Ornamental use.Many varieties of lettuce are welcome additions to ornamental beds. For example, ‘Mighty Red Oak,’ ‘Sweet Red,’and ‘Sierra Blush’ can easily fill gaps in flowerbeds, adding splashes of red where needed.Insects and DiseasesLettuce is generally disease and pest free, but you should still be vigilant.Cutworms and slugs are the most bothersome pests. Use a paper collar around young lettuce seedlings to keep the ravenous caterpillars at bay. Slugs are tougher to control. Sprinkle wood ashes or diatomaceous earth over the soil around the plants to discourage the nasty mollusks. Be sure to reapply after each rainfall.A major threat is lettuce rot which first attacks the lower leaves in contact with the soil and then spreads throughout the plant.With these lettuce gardening tips, you can stop this. The best way to prevent fungal and bacterial diseases is to rotate crops. Don’t plant lettuce in the same bed two years in a row.Raised Bed of LettucePerhaps the greatest threat to lettuce growing are deer. If there is no protection or netting over these lettuce plants, I can assure you that the deer will have a salad bar feast and everything will be gone. I specially recommend the plastic raised beds with pre-made nets from gardeners. These are what I use for my garden. These lettuce gardening tips will save you a ton of time that I had to learn by experience.Lettuce Harvesting TipsLettuce can be harvested any time after true leaves form. For the best quality, better to pick early than late as lettuce allowed to grow too long may be bitter and tough.To harvest crisphead, Batavia, and romaine varieties, cut the plant right at the soil line when mature, if you prefer to harvest full heads. You can do the same with butterhead and looseleaf lettuce, but I prefer to harvest only the outer leaves as needed. This keeps the plants in production longer. Try to harvest in the morning when the leaves are crisp, sweet, and full of moisture.When the crown of a lettuce plant elongates, it’s about to bolt to produce seed and the plant has passed its prime. Yank the lettuce plant out, toss it on the compost pile, and replant the space with another crop like bush beans, or with another lettuce seedling.Recipes and StoragePrimarily water, lettuce does not store well. For the best quality and flavor, use homegrown lettuce soon after harvest. This is particularly true for many of the looseleaf varieties, which wilt readily.Combine crisp, crunchy lettuce varieties with soft, buttery-smooth types. For example, a blend of ‘Little Caesar,’ ‘Burpee Bibb’, ‘Mighty Red Oak Leaf,’ and ‘Crispy Frills’ makes a fine tossed salad with a variety of colors, shapes, and textures. With the lettuce gardening tips, you will be able to grow and try different blends until you find the ones that most delight your palate.