The Difference Alternative Small Business Funding Can Make for Canadian Companies

October 31, 2019 4:21 pm Published by Leave your thoughts

If you are a small business owner, you probably understand how important having stable access to funding is.

Whether you need emergency funding to help you deal with sudden, unforeseen costs or revenue shortfalls, or you need expansion funding so you can take advantage of deals and investment opportunities, alternative funders like SharpShooter Funding can power your business growth and give you the margins you need to maintain your profitability even in difficult times.

But if you’ve never worked with an alternative small business funder before, you may be wondering what difference there really is between alternative funders and the big banks — aren’t all financial institutions basically offering the same products and services?

The truth is that companies like SharpShooter Funding offer much more accessible funding to Canadian businesses than the five biggest banks do. If you want to understand just how big a difference in alternative funding can make for companies in Canada, here are the three main areas where our approach offers better service.

More Flexibility

According to one recent news story, a third of all small businesses are now struggling to pay the bills and make payroll. A sudden expanse can make it very difficult for these companies to stay afloat, and being locked into inflexible loan agreements can easily put even profitable businesses underwater.

This means that flexibility is one of the most important things to consider when applying for capital funding. Even if you believe you will be able to make the payments in the short term, you have to factor in the possibility that a bad quarter or an unexpected expanse can seriously hinder your ability to make your payments down the road.

One of the biggest advantages that alternative funders have over traditional financial institutions is that we can give you the room to make payments on a schedule that works for you.

Instead of being locked into a payment plan that makes it impossible for you to prioritize growth over debt financing, alternatives like SharpShooter Funding put you in the driver’s seat when it comes to managing payments. If you need to reduce payments during periods of slower income and increase them during the most lucrative points in your fiscal year, you have the freedom to do that.

If you need capital to scale up your business and put it on a more profitable foundation but are concerned about signing a rigid lending agreement, don’t put off your business expansion any longer — get in touch with us to find out more about our flexible funding options that will help you handle payments on your own terms.

Higher Approval Rates and Faster Processing

Let’s face it: when emergencies or opportunities arise, you don’t always have the ability to wait around for days or even weeks on end before you find out whether you’ve been approved for a funding package.

That’s why we work seven days a week to ensure that your application will be seen and processed as soon as possible. Big banks only offer their services during certain windows of time on certain days of the week, but we understand that, as a small business owner, your problems can’t afford to wait until the bank opens on Monday morning.

If you want a funding partner that will offer higher approvals and faster processing over the big banks start filling out your own online application today. You could hear back about approval within a few hours — and because we approve seventy-five percent of the applications we receive, your odds are very good!

Greater Range of Options

Different businesses have different needs, and one of them, unfortunately, realities of working with a large bank is that the funding options are often one-size-fits-all.

As an alternative funder with extensive experience working with companies in a wide range of different industries, we know that the funding an established restaurant need is very different from that required by a tech start-up. This is why we offer a wide range of funding options, and take seriously which of our funding packages is best suited to your particular business plan.  

For example, these are just a few of the products you can apply for through SharpShooter Funding:

  • Merchant Capital Advance
  • Long Term Funding
  • Small Business Funding
  • Business Expansion Funding
  • Bridge Funding

If you want to know more about the SharpShooter Advantage and how it can help your business, browse the different funding options advertised on our website, or get in touch to find out what kind of funding your company is eligible for.  

Earlier this year, Reuters reported that the “Goldilocks” era might be coming to an end for Canadian banks. After years of low unemployment, low interest rates, and a steadily growing economy, many in the financial services industry are suggesting that it might be harder for businesses to get credit from big banks in the coming years.

If this proves true, it will disproportionately impact smaller Canadian companies that don’t have the same liquidity as larger corporations.

This means that the services we provide will become even more important for small companies looking for capital to expand, scale up, or simply meet their quarterly obligations.

As an alternative funder, SharpShooter Funding is in it for the little guy, and no matter how many times a big bank has turned down your loan request because of insufficient assets or poor credit, we promise that you will always get a fast, fair hearing when you send in an application for capital.

Give us a call today to learn more about the funding options we offer, and which ones are right for you!


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This post was written by Paul

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