New Franchisee? How Franchising Lenders Work in Canadian Franchise Finance

Being the ‘ new person ‘ is not always beneficial, especially when it comes to a major life decision such as your new career as a franchisee in Canada. Not knowing about franchise finance or franchising lenders work is definitely a set back – so lets get you ‘ armed and ready ‘ with some solid info on financing your franchise.

First of all, here’s the good news – financing a franchise in Canada is certainly possible – It’s mostly done by a guy named BILL! And we’re not kidding. More about him later.

In fact though, the franchise industry is currently viewed as quite healthy as lenders feel that the concept of proven business models and branding of your franchise are great steps to opening what ultimately is a ‘ start up ‘ business. Clearly we all agree a franchise ‘ start up ‘ is steps ahead of opening up your own business and ‘ taking a chance’.

So, can you get a ‘ standard’ bank loan to complete your franchise finance? We don’t want to be too sarcastic here, but the answer is, yes, if you have a million dollars net worth, pristine credit, and some outside collateral and guarantee ability. So what we are saying, putting that sarcasm aside, is that conventional lending doesn’t really work if you’re a new franchisee seeking an independent business opportunity financing.

So, that brings us to our friend BIll, remember we told you he finances most of the franchises in Canada. Clearly a popular guy, as he finances millions of dollars of franchises. Our clients want to immediately get to know this Bill guy. So, who is Bill?

Actually we have spelled his name wrong, its BIL, because that is the name of the government sponsored loan programme in Canada (in the U.S. it’s called the SBA loan) that funds most franchisees in Canada.

How can one program be so popular? It’s simply because it’s well suited to what you are trying to accomplish. It provides great rates, terms and structures, limited personal guarantees, and requires what we in our firm call a reasonable or decent personal credit history. I.E. You don’t need that million dollar net worth we spoke of earlier?

So how do you achieve franchise finance success with franchising lenders on the BIL loan? Again, pardon our humor, but investigate the Boy Scout motto – Be Prepared!

The essence of approval for your franchisee venture for franchising lenders under a BIL loan is a crisp business plan, a financial projection that makes sense, and various back up documents as required by the program. Naturally you also need assistance in determining who offers this loan program, how it can be sometime augmented with other financing, and it sure helps if you present it professionally and properly.

So, we always try to have a bottom line, and in this cases its pretty simple – investigate the BIL program, do your homework, identify key requirements, and, if you are challenged by any of the above seek a trusted, credible, and experienced Canadian business financing advisor who can help you achieve franchisee franchise finance success with the right franchising lenders for your BIL. And, by the way, congratulations on your new role as a Canadian entrepreneur!

Getting Dental Care On A Tight Finance Budget

With the escalating difficulties of the times, and the increasing incidences of diseases mostly related to lifestyle and environmental causes, more and more individuals working in different companies have been subjected to awareness raising sessions to put more value on one’s health.

Dental financing is one of those mechanisms to answer health care needs for those dental expenses that you cannot afford in just a one time payment. It’s a type of health care strategy to influence and reach more individuals to be orally healthy without having to worry about costs. If we notice, companies generally allocate budget on health in a general sense and not on a particular field although dental services may be covered minimally.

What are the advantages of having dental financing aside from the regular health insurance?

Well, your health insurance may cover your general health needs from routine check-ups to hospitalization bills but on the dental aspect may be limited to regular check-ups, cleaning and some common dental procedures. As for dental financing, these can answer to your oral health needs from the very simple procedures to even cosmetic dentistry. We know how costly these procedures can be but with a financing scheme, everything will just be easy on your pocket.

What are the different ways to provide financing that are reliable on oral health care?

Dental Payment Plans by Your Dentist

Some dental offices will help you to finance the cost of the treatment. The type and cost of the treatment are important factors in determining the frequency and methods of paying for the dental procedure. Some practices may ask you to pay down-payment upfront, or they could offer you monthly payment plans to gradually pay off your debt. But keep in mind that you may be asked to pay interest on premium. In addition, late payment penalties might be implemented as well.

There are no uniform rules and each dental practice is flexible in how it approaches financing. Don’t be afraid to negotiate with your dentist to offer the best plan that will fit your needs.

Dentistry Financing

There are plenty of dental finance companies that will offer you their help to finance the dental treatment that you cannot afford otherwise.

Some financing is either a low-interest rate option or interest free if you pay-off within the 12 to 24 month period. Check with your dentist to see if their practice has an agreement with any finance company to help to pay for your treatment.

Your dentist will give you a form to complete your dental finance application. But if the dentistry doesn’t provide any financial help, please go online to look for a suitable option. One of the best recommendations is to check for Care Credit.

Care Credit

Care Credit is the leading provider in the US that is not just focused on dental needs but as well as other health care services. This company has been endorsed by the American Dental Association. What sets them apart from the rest are, they do not require up-front costs or pre payment penalties, they offer convenient monthly plans, and have a wider coverage that could even cater to cosmetic surgery and treatments and even veterinary medicine. Your financial application will be approved within few minutes. Your bad credit history usually doesn’t affect your approval process.

And the last advice is to read the whole financial agreement to be sure that there are no any hidden fees.

So, for your oral health, this financial information may be the answer to your needs. Do not hesitate to invest in your health because, health is within reach with financing.