Entrepreneurs with an already running business or looking to start one in Canada know how difficult it is to manage approval of small business loans from Canadian Banks. Most often you are turned down by them because of their overtly traditional outlook and strict rules.
A team of highly skilled and experienced financial management consultants are there to guide you and help you arranging loans upto 100% for small and medium scale enterprises across different sectors. 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.
Who can apply for these small business loans?
WeCanFinancial has laid down certain eligibility criteria and qualification parameters for entrepreneurs who can apply for 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.
- Good credit history of the business owners with a BCN score of 650 and above
- 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 it is mandatory to have a BCN score of 700+,minimum 30-50% self funding capacity from the required budget including choice of good location, choice of effective personnel, experience in the industry and carrying costs for the initial 6 months.
For Manufacturing Sector small business loans 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, 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.
For already practicing and new Doctors and other professional services 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.
For IT Organizations, both existing and new can apply for small business for purchase of tangible equipment, renovations, short and long term cash flow and operating capital along with other business needs.
For Transportation and Logistics start-ups, money is required in the initial phases for buying new trailers, trucks, operating cash, marketing, expansion and renovation of existing premise or getting a new one.
Whatever your business financing needs may be, there is a wide range of options to choose from.