Get Finances
How to get finances is the most challenging aspect of starting a business. There are both government and private-sector sources of financing that you can tap into to get your business off the ground. We understand your business needs in every step of financing for business startup, development and grow. Depending on the stage and type of your business, the needs in financing may vary.
Prior to considering your financing needs, it is recommended to speak with us and we can help you to review your current financial position and map out different financing alternatives in order for you to make the best decision.
The following are a few types of financing sources available on the market, check on that and contact us if you think you are eligible for one of the financing sources, and we would like to help you to achieve your goals.
Government Financing
The government provides financing to help entrepreneurs to start a business. Some of this financing is targeted at specific demographic groups and industry sectors, and some of it is available to a wider audience. The financing includes grants and contributions (which generally do not have to be repaid), loans, and loan guarantees (which generally do have to be repaid).
To find the government financing resource, please click Business Grants and Financing
Private-Sector Financing
You can also turn to the private sector for financing of your business. You can look to Canada’s major financial institutions, such as banks, credit unions, and cooperatives. Depending on the type of business you want to start, you might also be able to secure venture capital or financing from angel investors and venture capitalist.
To find more financing resources, please click Business Financing
Business Credit Availability Program
The federal government introduced the Business Credit Availability Program (BCAP), any creditworthy Canadian business seeking financing to support its operations may apply for credit under the Program.
Canada Small Business Financing (CSBF) Loan
The CSBF Loan is designed to help businesses purchase, install, renovate and modernize business equipment and other fixed assets.With assistance from the federal government, businesses can support their financing requirements without using personal assets as security. Applications must be submitted with a business plan which includes financial statements or projections. Talk to us about your business plan at anytime you need help.
Commercial mortgage
Commercial mortgages are typically taken out by businesses. The process of setting up a commercial mortgage is very different from the process of setting up a residential mortgage. There are many different types of commercial properties including apartments, offices, plazas, malls, and recreational properties like golf courses. The standards for qualifying for a commercial mortgage are high since the typical value of a commercial mortgage is quite high. The factors that the mortgage lender will analyze include debt service ratio, credit ratings, business profitability, and the loan to value ratio.The majority of commercial mortgage lenders will request a copy of the business’s credit score report to ensure that the business routinely pays all its debts on time. In addition to credit score and cash flow, a commercial mortgage lender will look at many other aspects of your business. You may be expected to provide financial projections and a business plan, and reviewed or audited financial statements.
How can we help you
Wei CPA, a Chartered Professional Accountant and Licensed Public Accountant’s office, we can help you to prepare business plan, financial projection and forecast. Being independent from you, we can review or audit financial statements as being required.
Contact Us
5000 Yonge Street, Suite 1901
Toronto ON M2N 7E9
Tel: (416) 628-9423
Fax: (416) 352-5713