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Business loans and finance for a business just may have gotten good again? The pursuit of credit and funding of cash flow solutions for your business often seems like an eternal challenge, even in the best of times, let alone any industry or economic crisis. Let’s dig in.

Since the 2008 financial crisis there’s been a lot of change in finance options from lenders for corporate loans. Canadian business owners and financial managers have excess from everything from peer-to-peer company loans, varied alternative finance solutions, as well of course as the traditional financing offered by Canadian chartered banks.

Those online business loans referenced above are popular and arose out of the merchant cash advance programs in the United States. Loans are based on a percentage of your annual sales, typically in the 15-20% range. The loans are certainly expensive but are viewed as easy to obtain by many small businesses, including retailers who sell on a cash or credit card basis.

Depending on your firm’s circumstances and your ability to truly understand the different choices available to firms searching for SME COMMERCIAL FINANCE options. Those small to medium sized companies ( the definition of ‘ small business ‘ certainly varies as to what is small – often defined as businesses with less than 500 employees! )

How then do we create our road map for external financing techniques and solutions? A simpler way to look at it is to categorize these different financing options under:

Debt / Loans

Asset Based Financing

Alternative Hybrid type solutions

Many top experts maintain that the alternative financing solutions currently available to your firm, in fact are on par with Canadian chartered bank financing when it comes to a full spectrum of funding. The alternative lender is typically a private commercial finance company with a niche in one of the various asset finance areas

If there is one significant trend that’s ‘ sticking ‘it’s Asset Based Finance. The ability of firms to obtain funding via assets such as accounts receivable, inventory and fixed assets with no major emphasis on balance sheet structure and profits and cash flow ( those three elements drive bank financing approval in no small measure ) is the key to success in ABL ( Asset Based Lending ).

Factoring, aka ‘ Receivable Finance ‘ is the other huge driver in trade finance in Canada. In some cases, it’s the only way for firms to be able to sell and finance clients in other geographies/countries.

The rise of ‘ online finance ‘ also can’t be diminished. Whether it’s accessing ‘ crowdfunding’ or sourcing working capital term loans, the technological pace continues at what seems a feverish pace. One only has to read a business daily such as the Globe & Mail or Financial Post to understand the challenge of small business accessing business capital.

Business owners/financial mgrs often find their company at a ‘ turning point ‘ in their history – that time when financing is needed or opportunities and risks can’t be taken. While putting or getting new equity in the business is often impossible, the reality is that the majority of businesses with SME commercial finance needs aren’t, shall we say, ‘ suited’ to this type of funding and capital raising. Business loan interest rates vary with non-traditional financing but offer more flexibility and ease of access to capital.

We’re also the first to remind clients that they should not forget govt solutions in business capital. Two of the best programs are the GovernmentSmall Business Loan Canada (maximum availability = $ 1,000,000.00) as well as the SR&ED program which allows business owners to recapture R&D capital costs. Sred credits can also be financed once they are filed.

Those latter two finance alternatives are often very well suited to business start up loans. We should not forget that asset finance, often called ‘ ABL ‘ by those Bay Street guys, can even be used as a loan to buy a business.

If you’re looking to get the right balance of liquidity and risk coupled with the flexibility to grow your business seek out and speak to a trusted, credible and experienced Canadian business financing advisor with a track record of business finance success who can assist you with your funding needs.

If you are facing the need to use a compounding pharmacy for the first time, there’s little doubt that you have questions. Compounding pharmacies are available, but they are not commonly used by most patients. Here are the most frequently asked questions about these pharmacies.What Is a Compounding Pharmacy?In essence, this type of pharmacy is one that customizes medications that are not commercially available. Medications are prescribed by a physician, veterinarian, or other medical provider. The medications are then compounded, or put together, by a state-licensed pharmacist. These pharmacies are typically utilized for people and animals that have unique health concerns that commercially available medications cannot address.Are These Types Of Medications Safe?You must understand that compounded medications are off-label. This means that the FDA does not approve them. That said, compounded medications are considered safe when put together and sold by reputable pharmacists. Before you order or ask for a compounded medication, ask your doctor to recommend a pharmacist or pharmacy. Not all professionals are skilled in the art of compounding medications.Why Do I Need This Medication?There are a variety of reasons why you may need a compounded medication. For example, if your pain management drug is difficult for you to swallow, your pharmacist may suggest a liquid or transdermal version. If you are experiencing sensitivity to an ingredient in your hormone replacement, your doctor may have a medication compounded without that particular ingredient.Compounded pharmacies also make medications for veterinary patients. Often, flavoring is added or liquid is made in order to increase palatability for a pet.Where Do Medication Ingredients Come From?The ingredients that are put into compounded medications come from the same suppliers as the big pharmaceutical companies. These companies are inspected and regulated by the FDA. The ingredients in your compounded medications are considered safe for consumption.Who Regulates These Pharmacies?Just like typical pharmacies, compounded pharmacies and pharmacists are licensed at the state level. There is also an entity known as the Pharmacy Compounding Accreditation Board (PCAB) that has developed national standards that compounding pharmacies must follow.Does the FDA Inspect Compounding Pharmacies?The FDA does not inspect compounding pharmacies, but this should not dissuade you from making use of their services. The FDA does not inspect typical pharmacies. The regulation of pharmacies and pharmacists has always been handled by individual states. The FDA does, as has been stated, inspect and regulate the facilities that produce the ingredients that go into these medications.Compounding pharmacies are on the rise as people become more aware of them. Up until the 20th century, all pharmacies were of the compounding type. It wasn’t until just a century ago that the pharmacies we are used to seeing today arose. If your doctor suggests a compounded medication, you can feel safe in taking it. Follow the same safety protocols as you would with a typical medication, and speak with your doctor should you experience any adverse events.

In the past, if you owned a small, or even medium-size, business, you may have been able to get away with very little marketing. Well those days are gone. Not only do you need to market nowadays (no matter what size business you own) but you need to be involved in many different types of marketing. They are all a part of your marketing strategy.The changing approach to marketing for your businessIn days gone by, the marketing approach that business owners used was outbound marketing. With outbound marketing, the advertiser placed ads in various places (print ads, television, radio, etc). Although that marketing approach worked for a long time, eventually, the target audience got smart and learned how to block the ads in various ways. Of course, that left the business owners with a really big problem.A newer (and probably more effective approach in this digital technology age) is inbound marketing. Inbound marketing is the opposite of outbound marketing.Because they are coming to you willingly, they are prequalified and; therefore, they are customers who suit your business needs more closely. There are several different ways that you are able to reach your customers and to positively influence them.You can interact with your target audience over the Internet, through the various social media channels that you have chosen for your particular business, and various other means of online communication. The truth is that business people nowadays are too busy and too impatient to spend a lot of time on anyone or anything. If you can interact with them quickly and effectively, they will listen to you and they will keep coming back for more. It is a win-win situation.Take advantage of what is in front of youMost likely, by now, you recognize the importance of interacting with your target audience (and anyone connected to your target audience) online. Online interactions give you to opportunity to reach a very large number of people in the shortest amount of time possible. However, it is very important for you to understand clearly that even though you are involved with inbound marketing for your business and if you are seeing positive results from your marketing efforts, that in no way means that you should abandon your outbound marketing efforts.Traditional marketing is still very important and you should still retain that as part of your overall marketing strategy. In fact, the two types of marketing should work together and, if you work them correctly, you will see that they have a synergy that is very powerful and that achieves the results that you are hoping to achieve. Some of the marketing strategies that you will definitely not want to abandon are word-of-mouth, referral, and just plain open communication. They will all take you very far.The good thing about inbound marketing is that it will not eat into your budget very much at all. In many cases, you can achieve results from your inbound marketing efforts without spending any money at all. Of course, the price that you will have to pay is not in dollars. It is in time and effort, which are definitely valuable commodities for you as well. There are many different ways in which you can make a positive difference through your online marketing strategy.
Become an influencer via online marketing: You need to realize (if you haven’t realized already) that social media is an extremely powerful and influential tool. It behooves you to make the most of it and to leverage all that you can of social media for your business. You may (or you may not) be surprised at how much you can achieve through your social media efforts.
Increase your list of customers through your social media channels: The most popular social media channels can help you to increase your list of customers. If your branding is strong, which it definitely should be at this point, those social media channels will work in your favor. The fact is that people really want to interact through social media. It is quick, effective, and fun and many people are really interested in being a part of the whole social media scene.
Pay close attention to analytics: It is essential that you track your business’s progress extremely carefully. One of the many reasons why analytics are so important is that they allow you to understand what you are doing right and what isn’t working. They also allow you to identify trends and you can continue to hone what you are doing and you will see that the results will be positive.
Influence people so that they become loyal to your brand: Content really is king when it comes to your business’s success. People are not only interested in what you have to say but they are also extremely excited to tell you (and anyone else who is listening) what they think. They want to feel as though you value their opinions. And, why not? It is a human quality to want to be accepted and appreciated.
Position yourself so that you are top of mind for other people: Again, this goes back to the importance of content. If you share top-quality content with people on interesting, relevant topics, there is no doubt that people will be very interested in what you have to say and in how you say it. In fact, they will probably want to keep coming back for more and they will be excited about sharing your words with people whom they know and trust. That is exactly what you want to happen.
ConclusionWhen it comes to your marketing strategy for your business, it is important to remember that both traditional marketing and inbound marketing are important and your marketing strategy will be the most successful if you can use both marketing approaches together. Together, they will create an incredible buzz that people will not soon forget. If your story is sincere and told with heart, people will listen to what you have to say with pleasure. Together, there will be no stopping you!