Michael Yasny

Factoring is the most powerful form of financing a growing business can use. Qualifying for factoring is based on the creditworthiness of your clients and not on your business's financial history.

When your business does not meet the credit criteria of your supplier or manufacture and you are going to lose out on a large order from big box stores and grocery chains, purchase order financing may be the answer to completing the order with no money and credit. The PO finance company will arrange credit with your supplier or manufacture in order to get your order delivered. When the order is delivered and accepted by your client, the PO finance company will pay your supplier or manufacture immediately. You will need to have in place a factoring arrangement. The factoring company will now factor the invoice from your creditworthy client and pay the PO finance company the amount they paid your supplier or manufacture plus their fees. Job delivered, profit made, happy client, happy supplier and all with no credit or money in your pocket.

Leasing equipment is not just a yes or no. Sometimes your business advisor can show you and your equipment lender how to turn a no into a yes. Leasing conserves cash and cash is king in every business.

The Federal Government will guarantee your bank up to 75% of the loan that you qualify for under the CSBL program. This program provides loans up to $500,000. You as a borrower only have to qualify for 25% of the loan amount the other 75% is guaranteed by the Federal Government. You may apply for this loan yourself or you can use the service of a firm that applies for these loans on behalf of your business. The banks even though the Federal Government guarantees 75% of the loan the banks are not that interested in providing the loan and look for any reason to turn the loan down. A firm that helps arrange these loans will only put your application in if they feel there is a 90% chance of success as most of their fee is based on success. In some cases part of the loan can be used for cash flow. Always better to guarantee 25% of a loan then 100% of the loan.

Many businesses get into trouble with CRA because of tax arrears for GST/HST and source remittances. The reason you have arrears doesn't matter to CRA they just want their money now. Money Consultants will work with you as your company's authorized representative to deal with CRA and your tax arrears. Tax arrears can destroy your business. CRA can garnish you bank account, they can send garnishment letters to all of your clients demanding that they send any money owning to your company to CRA to pay down your arrears. Very few companies survive after CRA garnishes their business. Knowing on how to deal with CRA and putting in a repayment plan that your business can afford and not the one that CRA is demanding of you is what Money Consultants can do for your business. You owe the money and you must pay it back but how much you pay per month and for how long is where Money Consultants helps. Do no let CRA bully you into a repayment plan that you cannot afford. There are many do's and don't when you are dealing with CRA. Here are a few: Always pick up your phone when CRA calls or if you can't call them back as soon as possible. Never borrow money or even attempt to borrow money to payback CRA. Never give out information on your spouse unless they are a director of your business. For more do's and don'ts call Money Consultants.

Even viable businesses sometimes find themselves drowning in debt. Generally with CRA, lenders and large suppliers. Before you seek the help of a Trustee in Bankruptcy contact Money Consultants as there may be a better faster way of solving your financial situation.

Money Consultants provides business advisory services. Arranging the best financing for your business today and tomorrow. Making sure you understand all the rules when you sell to big box stores. Help determine pricing when selling to big box stores. When to give discounts and when not to. If you do not understand the rules when selling to big box stores you will lose money and probably your business. You are in business to make money not to brag about whom you sell too. Help negotiate with suppliers, even suppliers you owe money to, and cannot pay but still need the supplier to continue to do business with your business. Remember you are in business to make money and "It is none of your business how much your clients will pay for your product, it is only your business how much you need to charge for your product in order to stay in business".

Never take these loans out. The lowest rate of financing that I have come across is 42% and the highest is 120% interest. If you have taken one or more of these loans contact me immediately and Money Consultants will do our best to get you out of these loans before you lose your business.