Article by Stan Prokop

It’s possible, and we’ve seen it work all the time. How could one type of business financing, i.e. asset based lending, be the only business credit tool our firm will ever need?Typically when we meet with clients to talk about non-bank alternatives to cash flow and working capital challenges we speak in terms of many type of financing being complimentary to each other – example : factoring and purchase order financing . In most cases one type of Canadian business financing is not necessarily going to do the entire job you need – Except..! Except when it’s an Asset based lending solution for business credit.’ABL’ is sort of the new kid on the block – it’s vastly popular in the U.S. and gradually taking off in Canada, some say in fits and starts, which is partially due to the entry and departure of various firms that dominate the market.ABL, which is our acronym for the solution can be tailored very specifically to be the total one stop financing solution your firm needs. The two greatest dynamics of ABL is that it offers your business more credit availability (isn’t that what it’s all about) and at the same time can be customized to your industry and specifically, your company!In its purest form is simply putting in a customize loan facility to allow you to draw daily against the value of your receivables, inventory, and in many cases fixed assets and real estate. It’s kind of the business version of a home equity line of credit we like to explain to clients!But wait a minute, clients say, isn’t it exactly what a bank does. Well, yes, and absolutely no! Conceptually it is still the same, but the asset based lending business credit facility focuses solely on the assets, so you will rarely , if every hear terms such as rations, covenants, outside collateral, personal guarantees, etc in the context of an ABL solution .So is it the right financing tool for your firm – we’ll let you be the judge of that. But if your firm required a working capital and cash flow revolver in excess of 250k and you have some financial challenges you are immediately a candidate. Oh and by the way, you absolutely need to have receivables, inventory and fixed assets to get this type of facility, that’s really the main premise. Typical candidates we work with all the time have margin pressures, they don’t have the business financing in place to support sales growth and new orders, , or they have some real business and balance sheet issues revolving around restructuring, turning around, coming off a bad year, receiving a mega contract, etc .. If that sounds like you we can assure you that you’re a candidate for asset based lending business credit.Key benefits of the facility are greater cash flow, no covenants or ratio maintenance, and the ability to take advantage of opportunities otherwise not available.So is it the be all and end all financing solution. Only you as a Canadian business owner and financial manager can decide – so speak to a trusted credible and experienced business financing advisor to see if this type of business credit is for your firm.

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Article by Jonas Stansa

The heart-felt cry of ‘I have bad credit need a loan’ might sound familiar to many of us, particularly those of us who took a while to learn how to manage money. The situation is uncomfortable and someone in this placement may be tempted to despair, but you will find actually several pots of gold available to even those with lower credit scores.

Whether the individual in this placement has mismanaged money, over-extended his ability to repay already borrowed funds, suffered a divorce or lost a work, been saddled with higher medical bills, or simply been careless with balancing income and outflow inside a timely manner, the resulting low credit score creates a problem when a loan is required.

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Article by Diana Robert

When confronted with some sort of financial problems and you are not having the funds, the only viable way to raise the cash is possible only by availing loans. But, being in the military and having faced problems to bad credit, attaining the funds turns out to be a daunting task. In the absence of the funds, you will never be in a position realize your needs and demands. Besides, even if you do want to resolve the problem of bad credit, you will certainly need some amount of monetary support. Given the circumstances, the ideal option for you would be to go for the provision of bad credit military loans.

The loans are quite easy to source and are made available to almost all the applicants, irrespective of the rank and position. Moreover, those who have retired from active service too can avail the funds. With the support of the loans, the applicants can judiciously used it to deal with needs such as meeting wedding expenses, renovation of home, purchasing a car, consolidating debts and so forth.

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However, you may wonder what the differences between home equity loans and home equity lines of credit are.

Home Equity

When you have a mortgage on your home but the value of the property exceeds the amount owed, the difference between the outstanding debt and the property value is referred as Home Equity. This remaining property value can be used to guarantee another loan: A Home Equity Loan or Line of Credit.

Home Equity Loans are secured loans with a fixed or variable interest rate, a fixed loan amount and a fixed, though negotiable, repayment program. A home equity loan is just like any other loan, only it is secured with the equity you have built on your home and thus carries fewer interests.

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I have bad credit from a divorce and a bad spell of finances, i don’t want to declare bankrupcy, I have heard bad things about credit consolidation firms ,I want to get my score back to prefect but don’t know where to begin.Help!

We own our home, but have only been in it for about 2 weeks. So, my question is this: we have bad credit like 500, but need a loan for improvements & to pay off our car. Where do you suggest going? What institutions? the house is in great shape & worth a lot of money. Also, can i do a refinance cash out since we don’t have a mortgage will that work? Or am I just looking @ a home equity loan? Thanks in Advance
Sorry I didn’t clarify, we were gifted the house so we have nothing but equity in the home

Whats the difference between a loan and a line of credit?
Do you think its ok to search for the lender on the internet or should I go to my bank who refused it 2 yrs ago even though my FICO score was over 700? Its 760 now.
Do most people get quotes for the work they need or do they just borrow over and beyond what they think they need?
What are they going to ask me for when I apply for the equity line of credit?

I’m trying to clear up my life after a bad divorce, have a good paying job but need help.

bad credit (under 500) three mortgage lates. Life hit us hard but are trying to get back on our feet. Just need a chance. Anyone know a co that would provide a loan with these perameters?

I want to combine my debt but I don’t have enough debt to qualify for a debt consolidation program. please help