Wecanfinancial is becoming larger and better in 2016. Small business loans, corporate finance, and private equity loans, and more will become available to a larger number of cities in Ontario. Also our team is working on possibilities to expand into markets of other provinces in Canada and potentially several US states, please keep tuned to our updates.
In this newsletter we will review the latest trends and changes that are constantly happening in our market.
Business planning becomes more important for small business loans and start up loans. The quality of writing and format of the writing matters more than usual. Criteria for most banks and corporate lenders are very tight therefore only the best quality deals are standing chance of being accepted. WeCanFinancial.ca and our EBL program is the best place to start even more now for small business loans and start up loans due to firm set of rules and initial requirements, we strongly suggest clients to read more about it prior to making any further choices of consultants or financial providers.
Business development section of any proper business plan will now have to have real life examples of policies or procedures, on how the expansion of the business and positive development will be achieved by injecting the new financing into the operations. Marketing plan should include detailed marketing spending s, and marketing budget should also be allocated among several different programs to make sure that marketing efforts are diversified and achieve maximum response.
Personal credit requirements for small business owners qualifying for business financing are also getting tighter. No previous bankruptcies or consumer proposals is a must. Equifax credit score of 700+ also becomes very difficult to find exceptions to. Business owner should have clean sheets credit history for the last 3 years paying all payments on time, and keeping reasonable card balances. WeCanFinancial is not changing credit requirements for our EBL program but we may review this policy sometimes in the summer of 2016.
Existing restaurant and start-up restaurant financing is still available through several lenders supporting our EBL program, but as in previous years, this is going to be one of the most challenging business segments to finance. Small business loans normally don’t cover the initial start-up requirements for most medium sized restaurants, therefore initial equity requirements and 3 months operating cash balance requirements increase with every year passing. To simplify this opening a business or recapitalizing the business becomes more and more expansive.
High tech will be the talk of 2016 in corporate finance circles. Government of Canada is working on series of policies how to attract IT companies to Canada and how to grow the local talent to international levels. Availability of start-up funds and small business loans will be crucial for this initiative, WeCanFinancial will offer a wider range of IT and high tech options to companies this year, we are working on a marketing program specifically aiming IT market.
Private equity abilities of WeCanFinancial will be instrumental in 2016 as well. During the initial turmoil on the markets, the biggest opportunity lies within small and medium companies that could achieve faster growth and higher ROI’s. Since institutional capital is not available in this space, WeCanFinancial is uniquely position to profit from the temporary difficulties in institutional markets, providing private equity placements into most interesting and promising small and medium enterprises. WeCanFinancial offers private equity placements to companies with proven revenues, steady and wide spread client basis, with well-defined business models with large prospects.
Government guaranteed business loans are still on the menu of our firm. Our knowledgeable associates placed hundreds of SBL’s over the years, and are working on many during the first month of 2016. This is not the best product, and very tough to work with, but in many cases this product does not have the alternative.
WeCanFinancial will continue to update our clients and partners on latest developments within our firm and on the market, in a meantime we wish happy financing every one!