The
new section published on YourLoan.ca helps small businesses to make sound
financial choices in tough economic times.
YourLoan.ca announced today the publication of a new loan section
(http://www.yourloan.ca/small-business-loans--credit/)
that helps Canadian small businesses to stay afloat in times of market
upheavals and economic instability.
The
new section was created by the content development team at YourLoan.ca, a loan
directory that presents reviews of various borrowing solutions available to
individual borrowers and businesses. The loan section lists financial
institutions such as BMO and CIBC, along with the full gamut of financial
services.
“Although the Canadian
economy hasn’t been badly hit during the recent worldwide economic crisis,
small businesses have a tough time accessing affordable credit. We hope that
our directory can serve as a one-stop solution for finding small business
loans,” said John Wilson, marketing consultant at YourLoan.ca.
Small businesses face
lower approval rates when the going gets tough. Banks are not taking any risks
on borrowers with shakier credit profiles, entrepreneurs, and less established
businesses. Small firms often look for alternative sources of funding such as
venture capitalists, angel investors, and family and friends. At the same time,
traditional lenders offer a number of advantages, including creative funding
options and fewer stipulations than government loans. Many small businesses
apply for conventional loans because they offer more variety. This is a form of
low-cost capital that allows them to secure equipment and supplies for
kickstarter projects. It is unfortunate that micro-businesses are turned down
by banks because they are the backbone of the Canadian economy. Medium-sized
and small businesses generate more than 50 percent of new jobs in the country.
Many people are not employable by the large companies and corporations and work
for local businesses. Small firms also account for close to 30 percent of GDP
and help strengthen local economies. It is important that small businesses have
access to various forms of financing because they serve local needs and operate
in niche and limited markets. The new section published on YourLoan.ca presents various financing options that
allow small firms to adapt and respond flexibly to supply and demand and new
challenges and problems.
About YourLoan.ca: YourLoan.ca is one of the oldest
Canadian financial directories offering finance listings and financial guides
since 2005.
