Making the Best of Your Home Equity Loan

This is a relatively new line of credit that improves on the personal loans. You are granted a loan without being asked what you will do with the money and using your home as a security. We would like to give you some considerations so that you will not find yourself in unnecessary trouble. More »

Opening a Business Checking Account Online - What to Look For

If you are starting a new business or if you have a small business already but are not happy with your checking account, a new business checking account may be in order. It goes without saying that you face a wide range of choices in banks and types of checking accounts. More »

Is Easy to Make Money from Home Based Data Entry Work?

Many people around the world so much knowledge about these devices is not destruction. In his view, mining, extraction of earth resources. Internet technology these days, the data is extracted from new resources. There are many software tools to extract data as are available on the Internet to retrieve specific data from the Web. More »

Secured Business Loans: Give Wings to your Business

Business is nothing but pure economics. If the economy is good, you gain profits and if it is in the reverse direction, you loose money. It is only for those who have the conviction and ideas, can sustain and succeed in a business. Other than these, you need to invest so that you get returns from the market. But if the finances are not available to you, grab a secured business loan. More »

Guide to Secured Loans

These loans work well for funding major financial needs like buying a house, investing in property or business, child\'s higher education, etc. More »


Tag Archives: finance

Don’t Fall For Wrong Info On Getting A Canadian Franchise Business Loan – Get The Bank Franchising Finance You Need

Don’t Fall For Wrong Info On Getting A Canadian Franchise Business Loan – Get The Bank Franchising Finance You Need

Misinformation. It’s everywhere it seems. That’s why we think there’s some room for some solid information around a franchise business loan in Canada, with, and without the franchising bank finance you are probably looking for.

The whole issue of ‘ the bank ‘ is probably where a lot of the mystery, apprehension and misinformation lie when it comes to franchising finance in the Canadian marketplace.

When you understand how the banks participate in franchise finance and your loan in particular things get a lot clearer. We think if we lined up ten business people and entrepreneurs and asked them if they thought banks would finance their franchise… well we hesitate to guess their answers, or coments.

The reality though, approached under the right circumstances and program the fact that you are purchasing a proven business model is actually very appealing to the bank – Again, under the right program.

So where do things go wrong? One of them when we talk to clients is simply the fact that they are incorrectly assuming that the financing they are looking for will be a loan for 100% of the purchase price. We only wish!

The reality is that you must be prepared to inject certain funds; we’ll call it an equity or owner investment, into your business. Under the right franchise finance program that permanent injection can be as low as 10%. Naturally certain other rations around liquidity and debt have to make sense.

Remember also that the right mix of debt, i.e. what you owe, and equity, i.e. what you put in is the classic success story for any business financing. It’s all about the right blend. You don’t want to drain all your personal resources, that’s for sure – at the same time you want to be in a position to pay yourself and your franchising finance loan and show a reasonable profit also.

We keep referring to a ‘ program’ Specifically its the government BIL program which is administered by the banks but underwritten, or ‘ guaranteed’ substantially by the government , to your lender, the bank!

Clients often ask us if they can get franchising assistance from a finance point of view from their franchisor. We’re skeptical that happens a lot, and if it is it’s certainly in a limited fashion – so don’t hang your hopes on that dream too much!

Does being prepared make sense to you in business? It sure has to us! That’s why a very simple basic package that covers info on yourself, your new proposed business, some financial projections and other misc data make a franchise business loan happen a lot faster.

What about the financing costs for that loan ?The truth be told ( and we did promise you the truth ) is the BIL program has the best rates in Canada for any start up business, which is more or less what your new franchise is . Rates are in the 3% over prime range, and other enhancements to the overall credit package of the program are very
attractive to you, the business borrower.

Your own business background and personal credit rating play a key part of any franchise financing decision. Be prepared to demonstrate paying your taxes on time, having good payments with your creditors, etc. Typically you won’t be asked to put up additional personal collateral such as homes, savings, etc. But again, that’s if you have presented your overall picture properly.

We often supplement client financing with equipment leasing on certain assets when that makes sense – that might include P.O.S. systems, computers, etc.

Want to make sure you are getting the real scoop on franchise finance in Canada. Seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you in this area; thereby enhancing your business success potential.

Stan Prokop – founder of 7 Park Avenue Financial –
Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 7 years – has completed in excess of 80 Million $ $ of financing for Canadian corporations . Core competancies include receivables financing, asset based lending, working capital, equipment finance, franchise finance and tax credit financing .Info re: Canadian business financing & contact details :

Loan For A Franchise? Here’s How Franchising Finance Can Work For You

Loan For A Franchise? Here’s How Franchising Finance Can Work For You

Yes, you’re looking for a loan for a franchise, but who in fact is lending for franchising finance in Canada and what are the criteria. Is there a way to ensure you have access to all aspects of franchisee loans? Some good questions – let’s explore some even (hopefully!) better answers.

A few years ago as the Canadian franchise industry (and all businesses in general) recovered from the global financial crisis it probably was the worst time even to seek franchising loans. But the dust has settle, the Canadian economy seems to be firing on all cylinders, and the only question you as a franchisee want to know is ‘ where’s my loan approval’?

While Canadian banks promote actively that they support franchises in Canada the reality is that quite often, in fact almost always! … they don’t do this directly. That probably simply comes from the fact that in many aspects franchises are viewed as start up in nature – notwithstanding the proven business model and brand you as the franchisee have bought into. So that means from a fundamental finance point of view that there are no strong opening balance sheets, historical cash flows, and proof of profitability. In essence you’re a start up… and start up financing is hard to find.

So how in fact do the banks finance franchises? The reality? They do it under the auspices of the BIL/CSBF loan program, which is a government guarantee to the bank for the majority of the loan.

There are of course other sources of franchise loans. They include specialized franchise finance organizations, private commercial finance firms, and to a certain extent equipment finance firms that will finance certain hard assets associated with your business.

The key aspect of getting approved for financing under the Govt loan program is your ability to find an experienced banker who is both familiar with the program and can help you identify the key requirements of the loan . Another method in which you can address this ‘ search issue ‘ is to seek out a trusted, credible and experienced Canadian business financing advisor who has the established relationships and knowledge to fast track approval success.

In the U.S., which has a similar program almost 25% of all loans made under their program are for franchises, and we think that’s probably a similar, if not larger number in Canada. So if your competitors are getting franchising finance, why shouldn’t you… right?

If you are buying a master franchise or have multiple locations in mind various other options might in fact be available – for example assistance from a private equity group, etc. But the reality is that one individual franchise will never qualify for this type of financing participation.

The equity, or down payment component of a franchise loan is critical – It can be anywhere from 10-50% and it’s a fine line that has to be managed relative to the amount of personal funds you commit and where there will come from – i.e. collapsed savings, collateral mortgages on your home, etc, Remember the saying ‘ once you spend it, its gone! ‘which we caught recently.
The reasons you want to get a loan for a franchise are quite clear – owning a business, financial independence, etc. Accessing the right type of available finance for that entry into entrepreneurship is critical. Seek out and talk to an expert in franchising finance options.

Stan Prokop – founder of 7 Park Avenue Financial –
Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 10 years – has completed in excess of 80 Million $ $ of financing for Canadian corporations . Core competancies include receivables financing, asset based lending, working capital, equipment finance, franchise finance and tax credit financing.
Info re: Canadian business financing & contact details :

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Finance and Accounting Outsourcing- A Healthy Practice

Finance and Accounting Outsourcing- A Healthy Practice

In the modern world, as the global economy goes on integrating, the competition of an open market is increasing day by day. In this environment, only such types of companies are able to survive, which have streamlined their operations and focus on their core competencies. In such type of business environment, where size does matter and so does flexibility, being a bulky organization with no scope for change leaves them open to extinction. With the emphasis to reduce costs and increase productivity, outsourcing has emerged as one of the best options to focus on the core competencies while reduces the burden of other departments that don’t directly contribute towards the growth of the company. Hence, outsourcing such kind of activities makes sense and thus finance and accounting outsourcing is a healthy practice which should be followed by small and medium sized businesses.

Finance and accounting outsourcing is an emerging market trend nowadays. Most of the finance and accounting procedures are bulky and are most often repetitive in nature and also voluminous. In order for small and medium scale businesses to concentrate on their core competencies, it becomes imperative for them to choose finance and accounting outsourcing. It enables the top and middle management to focus on innovation and thus leads to better decision making and helps in the overall growth of the company. Finance and accounting outsourcing involves outsourcing of accounts payable, accounts receivable, client billing, general ledger coding and management, travel and expense auditing, bank and other reconciliation, financial reporting and analysis, management reporting and analysis, vendor management, procurement management and purchase order processing, etc.

All these above mentioned tasks if outsourced to a third party vendor which has specialization in these areas, could help the small and medium business to prosper. It not only helps the middle and top management of the company to focus on more pertinent issues such as innovation and future scoping of business, but it also helps the companies to downsize themselves making them more leaner and thus more flexible and prone to change. This lets them to achieve whatever goals they have set for themselves and finance and accounting outsourcing helps them to focus on their core areas of interests, rather than the mundane task of calculating the travel bill of an employee.

Finance and accounting outsourcing is a trend which is going to rise with the globalization being the norm in the present times. Since competition is increasing with the opening up of the markets, it becomes necessary for the companies to brace for such competition and where being cost effective matters a lot. Thus, being a lean natured and flexible company helps and finance and accounting outsourcing helps the companies to achieve this. Finance and accounting functions, if left to professionals, can help the company to get better results and on top of it cost savings are also incurred since whole department of finance and accounting is outsourced. Thus, finance and accounting outsourcing helps the companies to keep track of their size and flexibility, making them more cost effective in the competitive market and thus helping them survive the cut throat competition. Finance and accounting outsourcing is thus a healthy practice which would lead to better innovation and a win-win situation for all.

Accelcia business process outsourcing provides finance and accounting outsourcing, financial accounting services,human resource business process outsourcing,human resource outsourcing,recruitment process outsourcing

Beyond the Basics: Finance and Accounting Outsourcing

Beyond the Basics: Finance and Accounting Outsourcing

There are numerous tasks of a company that are being outsourced today, from a company’s main services offered to the market to a company’s human resources duties. However, there is one that has been around since the birth of the concept of outsourcing as it is one of the internal corporate tasks that need expert attention and this is none other than finance and accounting outsourcing. It would be permissible for the general public to assume that accounting is one of the major solutions being outsourced today.

Most people would only think about accounts receivable, accounts payable and general accounting upon hearing the words finance and accounting outsourcing but it seems that there is another degree to it that is on the rise, which is financial planning & analysis. This particular branch has been present for the past few years but it is outsourced less frequently as it has not yet penetrated the market compared to the more popular ones.

A recent study by Everest Research Institute suggests that financial planning & analysis has a significant movement in terms of finance and accounting outsourcing contracts. The market research firm reported that between the years 2005 to 2009, the sealed contract renewals included a financial planning & analysis scope. In addition to this, it was also mentioned that the key players in the contract signing are from the manufacturing and retail industries.

Global leaders in outsourcing offering this kind of service, such as Genpact (NYSE:G), Wipro (NYSE:WIT), Infosys (NASDAQ:INFY), and Accenture (NYSE:ACN), are now enhancing their Financial Planning & Analysis capabilities since they are seeing that there is still room for improvement and there is a great possibility that this specific degree of outsourcing will see a boom in the coming years. Vengroff, Williams & Associates, a global service provider for order to cash processes, predicts that finance and accounting outsourcing will gain higher value this 2011. Accenture (NYSE:ACN), which is one of the companies mentioned above, has added another set of services to offer the market, to be delivered through their facilities in Cebu, Philippines. These services are focused on non-voice solutions which consist of finance and accounting solutions, among others.

However, as great as the idea of outsourcing financial planning & analysis may sound, it seems that not all countries are capable of extending their services yet, since there is a certain level of expertise needed to perform such tasks. This particular branch of finance and accounting outsourcing requires a higher level of expertise and training, compared to that of the other offerings under the same category. Taking into account the Philippines, the country may be regarded as one of the top destinations for outsourcing, especially for contact center solutions, but still financial planning & analysis outsourcing is still at its infancy in the country.

In the coming months and years, we may expect that the popularity for this degree of finance and accounting outsourcing service will increase and that the countries that promote outsourcing will be fully capable of extending their services to companies around the globe.

Audrey B is a Strategic Solutions Executive of Infinit Outsourcing, one of the leading outsourcing companies that caters to small and medium enterprises. It offers boutique accounting outsourcing that allow companies to gain a competitive advantage in their respective industries.

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