RESOURCES
Make sure to check out this site from Granted Consulting with information about the Grants for Startups available in Canada Here is a comparative table on the advantages and disadvantages of a debt: Advantages Disadvantages
Retain ownership & control of business
Loan must be repaid whether or not you have the money
Lender has minimal say in
running the business
Covenants & reporting can be restrictive
Relationship ends once money is repaid
Payments use cash, impacting growth
Principal & interest are known & can be budgeted
Personal guarantees may be required
Lenders care about ability-to-repay rather than company growth rate
If unable to repay, assets or business may be lost to the lender
Here is a comparative table on Short term v, Long term debts: Shorter term Longer term
Credit card (secured or unsecured)
Asset-backed loans (accounts receivable, inventory, SR&ED…)
Supplier credit
Leasing
Factoring of receivables
Mezzanine debt
Revolving operating debt
Senior secured debt
Government repayable loans (ie IRAP etc)
Venture debt
Suggested Prompts
How can entrepreneurs assess whether a short-term or long-term debt option best suits their business needs?
What are the potential risks and benefits of using government repayable loans compared to private debt sources?
In what ways might personal guarantees influence an entrepreneur’s decision to pursue a loan?
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Introduction
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Introduction: What is Non Dilutive Funding?
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Introduction: Resources
Loans available in Canada
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Loans Available in Canada: Resources
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Loans Available in Canada: RBCx
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Loans Available in Canada: TIMIA Capital
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Loans Available in Canada: Clear.Co
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Loans Available in Canada: Canada Small Business Financing Program (CSBFP)
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Loans Available in Canada: WeBC - Loans for Young Women Entrepreneurs in British Columbia
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Loans Available in Canada: Other Loans (list)
BDC
Tax Credits
Talent
Grants
Other Sources Available in Canada