By Survive and Thrive - Tuesday, July 14th, 2009

When looking to finance growth, you have a number of options available. It is much easier to obtain bank financing for an existing business than it is for a new venture. If you are an existing business, the bank may finance your growth based on your company’s accounts receivables, inventory, assets, and debt coverage (the ability of your company to service the debt repayment through their cash flow). Ensure that you have your most current financial statements prepared as well as a document outlining why you require financing, and how much money you require.

You may also want to consider factoring, an equity investment or growing through cash flow. Visit the Ottawa Capital Network’s Web site for more information. The objective is to explain the funding game, what it’s all about, and what you can do to increase your odds of success.

You might also visit Industry Canada’s Steps to Growth Capital Web site. It’s very comprehensive and informative.

As well, the Entrepreneurship Centre can offer you consultations with one of the business advisors to review financing options more specific to your situation.

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Tags: Business Finance, Ottawa Capital Network