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Securing financing is one of the biggest challenges for small businesses. As of December 2022, Canada had 1.22 million employer businesses, with 97.8% classified as small businesses. As of December 2022, Ontario had approximately 444,702 small businesses, representing 36.5% of all small businesses in Canada. Small businesses typically struggle to gain easy access to financing to grow their business. The…
As a small business owner myself, I understand the importance of having cashflow and working capital. Small businesses will all come to a point where they need financing options, whether it's for marketing campaigns, scaling operations, targeting new markets or even purchasing equipment, it's important for each business owner to understand what financing options they have. Traditional financial institutions like…
Looking to start your own business in the stunning province of Alberta but aren’t sure where to begin? You’re in the right place. At Little Dragon Media, we’ve been helping Alberta entrepreneurs take their first steps for years, from business registration to launching marketing initiatives with services like Google Ads and SEO. NOTE: To Register Your Business in Alberta, we…
Lender NameLoan HighlightsTop Five Banks (RBC, TD, BMO, Scotiabank, CIBC)Small business loans and lines of credit with lower interest rates, extended repayment terms; strict credit requirements, longer approval times.Merchant GrowthSpecializes in merchant cash advances and working capital loans; fast approval and flexible repayment; higher interest rates than traditional banks. Bad credit accepted. Swoop FundingProvides equipment and asset-based loans, suitable for…
As a small business, you know that investing in equipment is probably one of the most important factors for your company to grow and scale. Modern equipment can help businesses to quicken production, automate manual work, improve product quality and reduce the cost of manufacturing.: Used Equipment LenderLoan HighlightsTop Banks (BDC, Scotiabank, RBC, TD Bank, BMO)Offers competitive rates, often 100%…
For entrepeneurs and small to mid-sized businesses, obtaining financing to grow and expand can be one of the biggest challenges they face. Traditional banks typically require a high credit score and collateral against the loan, which small businesses might not be able to provide. This is where alternative lenders like Swoop Funding and SharpShooter Funding step in. Both these platforms…
Alberta’s low tax rates make it one of the most favourable places for small businesses. Small businesses are crucial for the province and contribute 30% to Alberta’s economy. According to the Government of Canada, there are over 150,000 small businesses in Alberta and they employ one-third of all private sector employees in the province. Small businesses typically struggle to gain…
Saskatchewan has the second-highest number of small businesses per capita in Canada. The province has 122 small businesses per 1,000 residents. As of 2021, Saskatchewan had 143,413 small business establishments, making up 98.9% of all business enterprises in the province. Saskatchewan-based businesses also enjoy low tax and utility rates. The infrastructure costs are also low which allows businesses to start…
