BusinessCashAdvance.ca Streamlines the Process of Finding Funding for Canadian Small Businesses

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Comprehensive provincial loan and grant guides are now among the many services available to help small businesses find the capital they need.

The mission of BusinessCashAdvance.ca is to simplify the process of finding financing and capital for businesses. Not only do they offer financing services to small businesses but they have also sourced and collated provincial loan and grant guides and provide them at no charge. There's no longer a need for business owners to sift and sort through the dearth of electronic information when their small business needs money.

These guides cover a broad spectrum of industries and sectors, including geocentric funding based on the resources of each particular province. BusinessCashAdvance.ca's guides are concisely detailed, providing specifics about the loans and grants. Details include background information and goals, target demographics, eligibility requirements, proposal specifications, amount of monies available, repayment terms, contact information and, in some cases, a link to the application form. This is the kind of information that other companies in Canada charge hefty fees for.

Canadian small businesses have taken a lot of knocks since the recent global financial crisis began, and they continue to have trouble accessing financing. This harsh reality threatens the ability of small businesses to acquire necessary resources, grow and expand. Ultimately, this leads to business failure and a stalling of overall economic growth.

A 2011 survey by Leger Marketing on behalf of Industry Canada, the 2010 Credit Conditions Survey, examined over 3500 small Canadian businesses (fewer than 100 employees) in a wide range of areas and industry sectors. During the 2009-2010 period of study, variances in shifting interest rates caused an increase in the 'risk premium' of small businesses. This premium measures the difference between the Bank of Canada rate and the rate of interest charged to Canadian businesses. This has put added pressure on the small business community. To compound the problem, the survey found that the demand for collateral to secure debt financing increased by 5%. In short, debt lending in the small business community has become more constricted.

BusinessCashAdvance.ca, who now also have a Google+ Page, offer a solution to this challenge by offering small businesses all their financing needs on one website. The primary service offered is a merchant cash advance program, an increasingly popular alternative to a bank loan because it's convenient and fast, requires no credit check or collateral and has flexible terms. Business owners' credit history and the credit-worthiness of their business are not at issue, nor do they need collateral. Underwriting for a merchant cash advance only needs to consider the records of the business performance. As long as a company has been in business for at least a year, it is eligible to apply. Amounts of advances are based on projected credit card sales. In short, BusinessCashAdvance.ca purchases the businesses' future credit card receivables – the business gets cash now and they recoup their investment by taking a percentage of sales from the businesses' Visa or MasterCard processor as it's earned.

BusinessCashAdvance.ca is a privately owned company based out of Toronto, Ontario, and is a member of the Canadian Association for Merchant Processors.

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Matt Earle
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