FAQ

Frequently Asked Questions

Frequently asked questions are listed questions and answers, all supposed to be commonly asked in some context, and pertaining to a particular topic.

 

Can commercial real estate be financed together with other business needs?

Yes, for existing companies with owned real estate or desired real estate acquisition, both real estate and business financing could be arranged simultaneously. Ownership of real estate helps a lot to secure loans of 350k and up, and very often real estate acquisition is a great step how to improve and expand existing businesses.

What types of equipment business loan could be used for?

Truck and Trailer, Manufacturing Equipment, Printing and Audio Visual Equipment, Heavy Machinery, Light Machinery, Tractors and Farming Equipment, Computer and Servers, Office Equipment and Furniture and many more.

What does it mean for business loan to be UNSECURED?

Most business loan products we would advise our client with are unsecured and have government guarantee attached to them. It means that if for any reason business will not be successful there is no lien or security registered against personal assets and loan is secured only by the business assets and personal guarantee of the owner. This personal guarantee of the owner could be as little as 25% of the business loan amount up to 100% of the amount. This does not mean that the person will need to return the full amount of loan in case business fails for any reason since government guarantee component insures that private important for living assets are not liened against in case of default.

What are the business loan ranges clients can qualify for?

Typically small business loans are ranging from $100k to $350k. But if the client has successful business with proven financial results, than its possible to obtain business loans of much higher amounts, from $500k to $5 million and up.

Which business loan lenders we have access to?

We have access to all Canadian Lenders who provide business loans, equipment loans, operating lines and other forms of business financing. Since different institutions have different requirements and different programs, ability to work with multiple institutions is a major advantage that we bring to our clients.

Why choose WeCanFinancial team rather than anyone else for business loan needs?

Experience, credibility and results – these are the 3 major reasons why choose us. Obtaining timely business loan is crucial for most business owners. Minor mistakes in financial projections, strategy and objectives could delay or collapse the process of obtaining such a loan, therefore having qualified advice coming from the best team on the market is one of the most important components of this process. We are proud to be able to provide such an advice and we are ready to assist you with all your business financing needs as long as they fall within the criteria described on this website.

How long does the process take, and what are the steps in order to obtain business financing?

-Typically once you use our advice you can obtain business loan in a matter of 4-6 weeks. If case is more complex more time might be required, our associates will be able to advise you on the approximate schedule once due diligence step is completed.

Step 1:
In order to initiate a business loan case, first we go through due diligence with our client, asking all necessary questions that we need in order to assess and qualify a client.
Step 2:
Once client is qualified, we begin with the list of documents that are required by lenders in order to accept and review the file. We work closely with the client and help preparing financial plan, objectives, accurate use of proceeds, starting balance sheet and business plan in order to have a complete package so no time is wasted once deal is submitted to the lender.
Step 3:
Once deal is submitted and lender provided initial feedback we work with the client in order to remediate possible concerns and get the file to the approval stage. This might involve updating use of proceeds, projections and objectives of the loan.
Step 4:
Once file is approved we guide our clients through completion process, and disbursement process so every step in finally obtaining a business loan is done in the most efficient manner possible.

How can I apply?

By phone, email, or through our contact us form on the website. Once initial contact is established our knowledgeable associates will advise you on all aspects of process of what is required to obtain business loan and will provide you with the best advice leading to obtaining required business financing.

Referral

WeCanFinancial.ca is pleased to have strong relationships in the broker community, offering competitive referral compensation for every funded lead. Among our list of referrals are lawyers, accountants, mortgage brokers, real estate brokers, marketing professionals and many others.

If you are accountant, lawyer or any other professional that is closely related to corporate and personal finance please give us a call and lets set up a meeting where we can show you what we can do for your clients and how we can do this. If you have a client requiring business financing please submit the information here and we will get back to you as soon as possible.