SMALL BUSINESS LOANS
Small and medium-sized businesses (SMBs) are the lifeblood of the Canadian economy.
Although these organizations typically have less than 500 employees, together they become a mighty force, making up 99.8% of all Canadian businesses, accounting for approximately 52.5% of Canada’s GDP and employing nearly 90% of the population. To maintain their business edge, SMBs are often in search of the right capital to keep their operations running smoothly.
Throughout Canada a small business loan refers to an agreement that is put in place between lending institutions such as a Chartered Bank or your Provincial Credit Unions. The process is where a small to mid - size business owner applies for monies to purchase what they require to improve their overall business functionality.
There is a stigma amongst most people that small business loans are solely for new start Ups. While starting a new business or acquiring an existing business is a great reason to elect to apply for a business loan. Take advantage of what is available in the marketplace today and let NPC Executive Financial Consultants take that sometimes arduous process away, so that you can focus on other important aspects of running your business effectively.
Business loans are not alike because each individual financier has their own set of terms, compliances and interest rates. In most cases your credit history, current credit profiles, available collateral along with a concise and informative Business Plan will play a significant presence in whether an approval for that particular loan is awarded. The following is a list of common reasons why small to medium size business owners apply for a business loan. Do any of these apply to you.? If so contact us today for a Free Consultation. “Let’s get you started”
- Extra cash flow to cover expenses
- Upgrading or repairing your business equipment
- Stocking up on inventory or raw materials
- Remodeling or renovating your store
- Moving your business to a new location
- Hiring or training new employees
- Launching a new marketing or ad campaign
- Paying off existing or overdue tax payments
- Paying your supplier invoices in full
- Purchasing or financing company vehicles