Toronto has long been a good place to do business, but in the past few years, it has exploded onto the international stage, becoming one of the most diverse, dynamic and exciting places to start a company in the world.
As an alternative funder proudly serving Toronto for small business funding we understand just how important it is for small Canadian companies to get commercial financing that works for them, which is why we’re proud to offer a range of funding products designed to help businesses in any industry succeed.
If you’re starting a company in Toronto, or if you run an established small business in the Greater Toronto Area, then here are four types of commercial funding that can help you meet your growth goals for the end of the year.
Business Expansion Funding
Earlier this year, it was announced that Toronto had officially become the fastest growing city in North America, far ahead of its closes rival, Phoenix, AZ. For business owners who are already established, this is great news: after all, more people means more customers and faster growth.
But if you run a business in Toronto, you’ve probably noticed that alongside brisker sales and a more dynamic market, other expenses are also increasing — namely rent. This can put some companies in an awkward place. How can you leverage the opportunities inherent in the Toronto market for growth given the challenge of meeting day-to-day expenses?
Business expansion funding is one of the best ways to deal with this problem. At SharpShooter Funding®, our business expansion funding is designed to help you secure the capital you need to purchase new equipment, hire new staff, open new locations, or design new products and services.
For Toronto companies that want to strike while the iron is hot, business expansion funding is the best way to take advantage of these exciting market conditions.
Short Term Funding
From time to time, businesses that are showing steady growth and good returns still need to access a little extra capital on short term notice. There are any number of reasons why this can happen, but here are some of the most common:
- The need to purchase, repair, or replace equipment
- Shortfall in revenue
- The opportunity to take advantage of sales on inventory
- Unexpected product development delays
At SharpShooter Funding®, we offer short term funding that can deal with each of these scenarios. Unlike some of our other funding packages, our short term funding are designed to be paid back within eighteen months, making them a perfect choice for businesses that simply need quick access to small amounts of capital.
If you want to learn about what commercial business financing options we offer to companies looking for short term funding, you can find out more by visiting the different funding options advertised on our website, or simply get in touch to find out what kind of funding is best for you!
Long Term Funding
While short term funding can be a life-saver for Toronto companies that need to deal with issues like unexpected revenue shortfalls or emergency repairs, if you want your business to be able to keep pace with growth over the long term, you need funders who can provide you with financial arrangements designed to meet your needs three, five, or even ten years down the road.
SharpShooter Funding® has worked with a variety of Canadian companies to create funding deals that set them up for long term success, and we understand how important offering bespoke solutions is.
If you are looking for an alternative funder who can help design a long term funding agreement that works for your company, submit your application now and we can discuss with you the different options available to you through SharpShooter.
Like our namesake and business partner Bret “The Hitman” Hart, we are always willing to fight to help Canadian underdogs reach their full potential in the competitive but truly exciting world of 21st-century business.
While one form of long term funding or another is absolutely essential for most businesses that have demonstrated reliable growth but need to increase their liquidity, the nature of this funding is such that it can take a little longer to get an agreement in place. So what happens if you have pressing expenses that need to be dealt with now?
If you have a long term funding agreement that won’t come due for several months and need capital to keep you going in the meantime, you might want to consider applying for bridge funding to maintain your operations in the meantime.
Bridge funding are designed to help you fill the gap between funding periods, and they usually work by letting you borrow off the security of the future funding. This makes them a great choice if you simply need some cash to get you through the next few months until your long term funding comes due.
As Toronto grows, the number of business opportunities it offers will doubtless continue to expand. Canada is ideally situated to be a major player in the world of 21st-century business, so it shouldn’t be surprising that it continues to attract attention on the international stage — both for entertainers like Drake and the triumphant 2019 Toronto Raptors, and for its diversity, stability, and openness.
But as the city grows, it also becomes more competitive, which is why businesses that want to use Toronto’s dynamism to their own advantage need to make sure they have the financial support and backing to pursue success through whatever uncertainties — and opportunities — may come in the years ahead.
Categorised in: Blog
This post was written by sharpshooteradmin