Financing your business?
(NC) Are you trying to finance your business? If so, consider these key factors:
Your Financial Investment
Be prepared to invest your own capital into your business. Most financing ventures, including government financing programs, will need to see a portion of investment coming from you.
Your Credit Rating
Lenders will consider your personal finances when you apply for a loan. While it may not be the only factor, most lenders will look at your credit rating as an indicator of how you have repaid financing in the past. Keep on top of your credit and, if needed, take the necessary steps to improve your credit to make you more attractive to lenders.
Your Business Plan
A business plan is one of the first things most lenders will want to see. Show lenders how you plan to implement your business and convince them that you will succeed.
Free services to help you with business planning, access to information on financing and an array of other business topics, are offered through Canada Business Ontario. Call them at 1-888-576-4444 or visit canadabusiness.gc.ca.
Canada Business Ontario is a program within the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). For further information on federal economic development programs and services for southern Ontario please visit, FedDevOntario.gc.ca, or contact us by email at info@FedDevOntario.gc.ca or call toll free, 1-866-593-5505.
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