As a Canadian business owner you will need to decide if you want to acquire traditional small business financing through a traditional lending institution, or whether you are looking for private sector funding which could include angels, venture capitalists or even other private investors. Much of this will depend on the amount you are looking for, whether the funding is secured or unsecured as well, and whether your business or the owners have the right credit.
Requirements for Business Financing
No matter how you plan to obtain funding, you will require a solid business plan or feasibility studyas well as 2-3 years of notice to reader compiled financial statements from a professional accountant (CPA). If you are a start-up business without revenue, much of this will depend on your personal credit and assets, and whether you have generated revenue to date, and what level of investment you have made in your business.. In most cases, a lender will want you to provide a feasibility study or a business plan of the business including 3-5 years of projected financials (pro forma statements). Whether you will need a business plan or feasibility study will depend on the lender, the amount and what you are financing.
We Can Help You Source Financing For Your Business
At RK Fischer & Associates, we have partnered with several financing firms and institutions which can help with your business financing requirements. We can help you with the development of a business plan , or undertake a feasibility study on your business for the lender or investor. If you already have a business plan, you want to make sure you have the required information you need to obtain the financing you need. We can provide an assessment of your current business plan to help determine if it is sufficient.
If you have been turned down for business financing or want to see if you are a good candidate for financing and need help in assessing your business, we can provide a business assessment where we will work with you to put an action plan in place to make the necessary changes you might need to secure the business financing you need. In addition, we have financial partners who can provide alternative financing options to traditional financing, who will work with businesses that may not be able to obtain financing through traditional banking institutions.
Our offices are located in Southwestern Ontario but we are able to provide most of our services across Canada as most services are performed remotely.
We will provide onsite services that require at least one day onsite in Sarnia, Chatham-Kent, London, Windsor, Woodstock, Leamington, Waterloo, Cambridge, Kitchener, Guelph, Milton, Oakville, Mississauga, Burlington, Hamilton, Toronto, Vaughan, Markham, Brampton, Richmond Hill, Newmarket, Whitby, Oshawa, Ajax, Pickering, Uxbridge, Pickering and surrounding locations in the GTA and Southwestern Ontario. For other businesses in Canada who want service onsite and are outside our onsite area, please contact us to discuss your requirements as outside our outlined area will require fees for travel & living. For businesses in the United States, our services are performed remotely in Canada utilizing Zoom for online meetings.
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