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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.

The statement that a payday loan will be your sheet anchor when you desperately require cash is rather sketchy. They, without any doubt, have got their very own positive factors. Nonetheless there are actually many disadvantages to this type of financial loans. I personally try to step back from this form of lending services. Nonetheless let us evaluate pretty much all advantages and drawbacks of these loans to create an objective view on this credit service.In actual fact, payday loans are money advances. When you get caught up in between your pay days with no money in your purse, you desperately require some funds from an outside source. Moreover if you are faced with various unpredicted expenses, you have got very poor credit rating, and credit cards aren’t any option for you, a payday loan is what exactly will be able to assist you to make it through until you obtain your next paycheck.Dealing with such kind of financing is merely like dealing with pretty much any other loan. You simply borrow a certain amount of cash with a commitment to return it back at the pre-agreed fee and rate.Payday Loans CostsDifferent creditors sanction loans at various fees and rates. And this particular problem actually is a drawback of these loans. You will often shell out from $ 15 – $ 30 for receiving $ 100. In terms of interest you would require to pay, it’s really drop-dead enormous. The interest rates range in between 390% and 780%. And this is really the worst part with regard to these loans. Let’s now proceed to the more pleasant aspects.Applying for a Payday LoanThe procedure for payday loans application is very simple. You can execute it on the Web, or go to a loan office. You complete a loan application and give a few personal details for a loan provider to make a loan decision. The requirements are usually pretty much the same: you have to be at least 18 or above, need to have a stable employment with a minimum monthly income of $ 1,000, and also a checking bank account. You will, quite possibly, be asked to give your social security number, copies of bank accounts and pay stubs. In case you fulfill all the specifications, you can be positive that you would be approved for a loan. Thereafter you normally have got to hang around for 24 hours (or less in some instances) and you will have the access to your cash.Payday Loans Positives and NegativesPayday loans really are a solution for cash-strapped individuals. In the event that you desperately want to get hold of some cash and you need the same fast, using a payday loan is certainly much better than stealing a bank. Another nice thing with regard to such sort of loans is that by getting one you do not expose yourself to a long term obligation, such as whenever managing a typical bank (when you get a mortgage, a car loan, or a reward charge card). You’ve got to pay back the money borrowed soon after you receive your next paycheck. Usually, the ceiling on the highest possible sum of money you can borrow is $ 2,500. Therefore, this is one more advantage of such loans. You just won’t bury yourself in big debts. And payday loans end up being significantly less expensive as compared to bounced checks.So, when you have a heap of bills to pay one day and no credit line or cash available for doing it, consider getting a payday loan. It is usually a good backup strategy for you. However be responsible with respect to paying it off on time, otherwise, you will encounter big charges and might get the sticky end of the stick. Recollect payday loans primarily in some cases of unexpected emergency, not whenever you feel like purchasing a new designer’s suit or jewelry.

According to a survey conducted in March 2020 and recently published by InterNations, an expat organisation with around three and half million members, the Spanish city of Valencia is the best city in which to live as an expat. The survey assimilated answers from 15,000 respondents on five areas of experience: cost of living, finance and housing, quality of urban living, getting settled and urban work life. Alicante was in second place and Lisbon third, Malaga was in sixth place and Madrid ninth, meaning that five of the top ten cities were in the Iberian Peninsula. Interestingly, out of the 66 cities included in the survey, those top tourist destinations, Paris and Rome, came in the bottom ten. A fact that perhaps tells us more about the type of lifestyle sought by expats than it does about the quality of life in those cities.

Recommended article: The Best (& Worst) Cities for Expats

Around 15% of the Spanish population are foreigners and the twin attractions are clearly, plenty of sunshine and a low cost of living. So, what is it that makes Valencia the expat’s favourite? Spain’s third largest city is situated on the south eastern coast and its location means that it enjoys a climate described by the World Health Organization as ’ideal’. Its 300 days of sunshine per year lift the spirits with weather, which is never too hot, too dry or too wet and a cooling sea keeps the air fresh and clean. Like much of Spain, accommodation is inexpensive, and food and drink are cheap and of outstanding quality.

Recommended article: The Cost of Living in Spain

What makes Valencia exceptional is the quality of urban living which the city has to offer, quite simply, there is just so much to do. Valencia is beautiful and it is beautifully diverse. Its centre is medieval, its cobbled streets dominated by the cathedral with its blend of Baroque, Romanesque and Gothic. Here you’ll find ancient buildings, like the Silk Exchange, ornate churches, the biggest fresh market in Europe and delightful cafes and restaurants by the score. There are thirty-four museums, most of them free or very cheap and fine examples of Rococo, Art Nouveau and Art Deco architecture. By contrast, ‘The City of Arts and Sciences’, designed by the Valencian architect Santiago Calatrava is science fiction fantasy that looks like it’s come straight from the cover of a vintage copy of Astounding Stories. The scientific and cultural leisure complex is set in the dried-up bed of the river Turia and contains Europe’s largest aquarium, a 3D cinema, a science museum, an opera house and the Terraza Mya gardens. As if all that weren’t enough, there are the 20k of beaches, 6 within the city itself and a further 6 easily accessible by public transport. A further 10k beyond the city is the glorious Albufera National park. The inhabitants of Valencia certainly have good reason to count their blessings and just to top it off, Valencia is the home of Paella.

Travel a little further down the coast and you’ll reach the port-city of Alicante. For many the city is simply the location of an airport, but those who rush straight onward to their destinations are missing out on one of Spain’s great cities. Alicante shares many of the delights on offer in Valencia. The narrow streets of its old town are dominated by the medieval Castillo de Santa Barbara, which looms over the town. There are wonderful cafes and restaurants to be enjoyed, delightful parks and gardens, ancient monuments and historic buildings. Nearby there are fabulous beaches and world class golf courses and like Valencia, accommodation within the city is attractively affordable.

The capital city which features third highest in the survey is Lisbon, Portugal’s hilly coastal capital. Most capital cities are prohibitively expensive places in which to live but despite a property boom in recent years, rental accommodation in Lisbon remains affordable. Portugal also has one of the lowest costs of living in Europe and is rated the third safest country in the world. Once the heart of a great empire, Lisbon is a city full of wonderful architecture and its seven hills afford unexpected vistas at every turn. Lisbon has all the pleasures on offer that one would expect from a capital city: outstanding cuisine, vibrant nightlife, a rich cultural life, museums, galleries and world class shopping. It is an hour from the glorious beaches of the Algarve, enjoys year long sunshine and has an international airport linked to 120 destinations. You can see the attraction.