How To Get Easy Loan For Your Small Business In Canada

Entrepreneurs with an already running business or looking to start one in Canada know how difficult it is to get the approval of small business loans from the Canadian Banks. Most often than not, you are likely to get turned down by them because of their overtly traditional outlook and strict rules.

But, there are other ways you can secure small business loans without hassle. For example, WeCanFinancial is now offering small business loans at minimum requirements. Finding the right funding option is essential for starting and sustaining any business. With the right advice and direction, you can easily get the loans your business needs to thrive.

Here is how you can get the loans approved to fund your business:

What it is WeCanFinancial

Run by the Clifton Blake Group of Companies, WeCanFinancial offers loans for real estate development, IT, transportation and logistics, franchise, manufacturing, professional services, and restaurants and bars.

A team of highly skilled and experienced financial management consultants is there to guide you and help you arranging loans up to 100% for small and medium scale enterprises across different sectors.

Who can apply for these small business loans?

WeCanFinancial has laid down certain eligibility criteria and qualification parameters for entrepreneurs who can apply for a small business loan.

The primary one being that the medium or small scale enterprise running more than 1 year in the market with proven revenue generation can acquire loans for business development, new employee salaries, operating capital, professional fees, marketing campaign and acquisition of small office equipment.

The process is not as cumbersome as with Canadian banks. Here is a preview of other conditions and criteria for eligibility.

  • The good credit history of the business owners with a BCN score of 650 and above
  • The healthy net worth of the business owner, preferably more than the loan amount requested
  • Confirmed revenue generation by the business verified by statements from banks and financial institutions.

WeCanFinancial provides small business loans in the following sector

  • For Restaurants and Retail

Restaurants and Retail are one of the best industries to invest in. Forgetting the small business loans in this industry, it is mandatory to have a BCN score of 700+. Additionally, a minimum 30-50% self-funding capacity from the required budget, choice of good location, choice of effective personnel, experience in the industry and carrying costs for the initial 6 months.

  • For the Manufacturing Sector

It is also one of the best industries to invest in as the manufacturing sector is always on high demand. The small business loans for this sector can be acquired for various purposes such as employee hiring, business promotion, short term cash needs, renovations, purchase of equipments and finance.

  • For Automotive Sector

The automatic sector is a bit of a challenge when it comes to securing loans for small businesses. For this sector, the small business loans are provided for renovation, heavy equipment purchase, long term and short term cash flow requirements and also for automotive repair shops, specialized mechanical shops, body and spare part shops and garages. Since WeCanFinancial has extensive experience in the field, you can rely on their expert advice on getting the loans.

  • For already practicing and new Doctors and other professional services

For the new doctors just out of the medical school need a financial help to establish the business. WeCanFinancial provides small business loans for new and existing practicing doctors for expansion, purchase of equipment, paying the supporting staff, renovation on leased premise, long term and short term cash requirements. With the right advice, you will be able to find small business loans on great terms.

  • For IT Organizations

The IT sector is one of the fastest growing sectors in the world. Financing option for this sector is immense. Both existing and new companies can apply for small business loans for the purchase of tangible equipment, renovations, short and long term cash flow and operating capital along with other business needs. Get the expert advice on various IT smalls scale business funding and find the right option.

  • For Transportation and Logistics start-ups

The transportation and logistics is a huge part of the Canadian economy, which makes it one of the best business ventures. Money is required in the initial phases for buying new trailers, trucks, operating cash, marketing, expansion and renovation of the existing premise or getting a new one. There are various options and with the right advice, you will able to find the right loan for it.

The Bottom-Line

Whatever your business financing needs may be, there is a wide range of options to choose from. WeCanFinancial offers advice on how to acquire loans for various small businesses in different sectors. Here you will get advice on how to get easy loans for funding your business without hassle.

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