In our previous articles we discussed in details different avenues of financing IT services companies, manufacturing sector, professionals, Doctors, and many other sectors of economy. Entrepreneurs often ask us about different debt and small business loan products for financial sector. Brokerege firms, trading firms, corporate advisory and corporate management firms also constantly look for affordable and efficient financing products. In this article we will discuss several different options available for financial services companies, and hopefully will answer many questions associate with financing this sector of economy.
Most financial services companies that do not invest their company’s funds into passive investments or active investments could qualify under EBL (Easy Business Loan) program, without any specific requirements. Since small business loans offered under EBL are unsecured products, issued under corporate and personal guarantee, all other standard qualifications criteria’s apply.
For entrepreneurs and business owners not familiar with our firm and our program we will list the requirements again:
- Financial Business has to be operating for over 2 years
- Business generate positive cash flow
- Major shareholder has BCN credit of 700 +
- Major shareholder can demonstrate personal equity above the requested loan amount
These are standard conditions under which business owners qualify their business under EBL program offered by www.WeCanFinancial.ca.
As a short description and introduction to EBL – EBL is unified unsecured corporate debt and business loan product, created and managed by our firm. Instead of going through multiple different underwriting requirements, our team created and unified these requirements in easy to administer program. As long as entrepreneur seeking capital for development and growth of his business can qualify under these easy to follow rules, our associates can take the application and help with the rest.
Now for financial services business specifically, the most important exception is that firms applying for EBL cannot use the funds in proprietary investment schemes or projects. For example, if the company generates its cash by charging fees to invest other’s people money in stock market, this company will be very unlikely to receive any products under EBL. If Financial Service Company, prepares market analysis, provides business planning services, printing and marketing services to the businesses, this firm if qualifies, has a good chance of receiving funding through EBL.
As with any other EBL application, Financial Service Company should properly use the funds to utilize them in the most efficient manner. At www.WeCanFinancial.ca – our knowledgeable associates with optimize the use of proceeds schedule in the most appropriate manner possible, for qualification purposes, and also for implementation purposes as well. Very often we were able to save up to 30% of used cash in operations of Financial Services Companies, by creating a much more efficient business model, and cash burn model.
Typically we also prepare and implement a new business plan for the entrepreneur, together with financing plan. Properly prepared business plan is super important for any unsecured debt provider out there on the market. The advantage of using EBL and www.WeCanFinancial.ca, our knowledgeable associates created and implemented 100’s of business plan’s and financial plans financed through EBL program, therefore business owners spend much less time in qualification process, which could be put for good use in their own business.
Typically small business loan process is very lengthy, stressful and has a lot of unknowns for entrepreneurs seeking growth capital. Financial Services companies have even more difficulties knowing that most of their revenues lie within companies management performance and stuff professionalism. In order to save time and money we advise business owners to start right and talk to the right people first at WeCanFinancial the one and only provider of EBL in Ontario.
As hot summer days landed in Toronto, we wish everyone to enjoy the weather finally, and spend more time making money and creating business, then working on paperwork to finance the business – leave that to the pros.
Happy Financing Every one !