Get Cash You need for your Business
by Matthew MeyersEvery day someone somewhere has a great idea for a new business. They may really do their homework and look into things like: market potential for the product or service; other competing products already on the market; acquiring protection for their idea (such as patent or copyright); setting up a company; and last, but by no means least, the most important aspect - finding the money required to make it all happen.
Typically, the entrepreneur finds that in order to proceed, they don't have the money needed and have to begin the search for financial assistance. They usually discover when they prepare a detailed business plan, the costs involved in turning their good idea into a real business, are significantly more than they anticipated. The next step then has to be beginning the search for outside financing.
In addition to new business ideas, there are many small businesses that are already up and running and need additional financial help for any number of reasons including expansion. Without outside financial help, they will always remain small and never realize their true potential.
When all the usual sources of funds are exhausted ( such as a second mortgage on the family home, using up savings meant for retirement, borrowing from family and friends, etc.) the next step is to approach a bank with your business plan. You will find that banks are usually not interested in financing these enterprises without a ton of security, which usually means if you had this type of collateral, you would not need a loan in the first place.
At this point the new business idea or plans for expansion are pretty much dead.
The good news is that what people don't realize is that both Federal and Provincial governments actually offer an excellent variety of either loans or, in some cases. Government Guarantees for bank financing. The even better news, is that in some cases they actually offer a Grant, which is a loan you don't have to repay.
I think everyone knows government loans and grants do exist, the problem has always been where do you find information about them and how do you apply. The Ontario Business Loans Guide is the first complete and up to date source of this type of information. It has a section on Federal Assistance, which could apply to any Canadian company, and another section specific to businesses located in Ontario. It also includes a section on preparing a good Business Plan, which you will definitely need.
Hopefully this book will send you in the right direction in obtaining the financial help your company needs. www.ontario-business-loans.com
Find out more about Barry's website, Ontario Business Loans and how he's been helping people for 25 years with their businesses.
Typically, the entrepreneur finds that in order to proceed, they don't have the money needed and have to begin the search for financial assistance. They usually discover when they prepare a detailed business plan, the costs involved in turning their good idea into a real business, are significantly more than they anticipated. The next step then has to be beginning the search for outside financing.
In addition to new business ideas, there are many small businesses that are already up and running and need additional financial help for any number of reasons including expansion. Without outside financial help, they will always remain small and never realize their true potential.
When all the usual sources of funds are exhausted ( such as a second mortgage on the family home, using up savings meant for retirement, borrowing from family and friends, etc.) the next step is to approach a bank with your business plan. You will find that banks are usually not interested in financing these enterprises without a ton of security, which usually means if you had this type of collateral, you would not need a loan in the first place.
At this point the new business idea or plans for expansion are pretty much dead.
The good news is that what people don't realize is that both Federal and Provincial governments actually offer an excellent variety of either loans or, in some cases. Government Guarantees for bank financing. The even better news, is that in some cases they actually offer a Grant, which is a loan you don't have to repay.
I think everyone knows government loans and grants do exist, the problem has always been where do you find information about them and how do you apply. The Ontario Business Loans Guide is the first complete and up to date source of this type of information. It has a section on Federal Assistance, which could apply to any Canadian company, and another section specific to businesses located in Ontario. It also includes a section on preparing a good Business Plan, which you will definitely need.
Hopefully this book will send you in the right direction in obtaining the financial help your company needs. www.ontario-business-loans.com
Find out more about Barry's website, Ontario Business Loans and how he's been helping people for 25 years with their businesses.
About the Author
Matthew Meyers writes regularly about business related topics. I hope you enjoy this article.
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