How Can You Receive Small Business Loans

Receiving small business loan from Canadian banks can be difficult given their traditional approach in banking affairs. However, banks are not the only places to get loans from. There are other financial institutions in Canada which can help the small business owners gather loan to expand or for other expenses. WeCanFinancial.ca is a financial and management consultancy which can provide small business loan to the small enterprise owners. Managed by Clifton Blake Group of Companies, WeCanFinancial has a team of experienced and knowledgeable financial consultants arranging for loans up-to 100% in various sectors which include restaurants & bars, professional services, manufacturing, franchise, transportation and logistics, IT, real estate and development.

Suitable Contender

Whoever is applying for small business loan to WeCanFinancial must meet the criteria set up by the company for the loan applicants. A small or medium enterprise will receive a small business loan only if it had been operating for over 1 year and with proven revenue generation. The business loan can be drawn for various causes like purchasing equipment, promotion of business, salary for new recruits, professional fees, business development and operating capital.

Key Requirements

1. Good credit history with a BCN score of 650 and more for small business owners
2. Net worth of the business should be more than the loan amount requested
3. Consistent revenue generation by the business validated by bank and financial institute statements.

In the following segment we will provide the details about the sectors we function in.

• Transportation and Logistics- in this sector small business loans can be used for purchasing trucks, trailers, marketing, expansion, overhaul of existing premises or acquiring a new one and operating cash.
• IT Organizations- small business loans for new and exiting IT companies is provided for acquiring substantial equipment, operating capital, long and short term cash flow, restoration and other business requirements.
• Doctor and Other Professionals- small business loans is provided for practitioners in medical and other professions for expansion, remunerating the supporting staff, buying relevant equipment, reconstruction of leased campus and long term cash flow.
• Automotive Sector- in this sector small business loan is made available for renovation work, purchasing equipment, short and long term cash flow, repair shops, garages and specialized mechanical shops.
• Manufacturing Sector- small business loans for this sector is available for cash needs, business development, purchase of equipment, hiring of employees.
• Restaurants and retail- both franchise and non-franchise restaurants and bars can receive loans provided they have a BCN score of 700+ and are capable of self funding for 30-50% of their total budget.