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Business loans and finance for a business just may have gotten good again? The pursuit of credit and funding of cash flow solutions for your business often seems like an eternal challenge, even in the best of times, let alone any industry or economic crisis. Let’s dig in.

Since the 2008 financial crisis there’s been a lot of change in finance options from lenders for corporate loans. Canadian business owners and financial managers have excess from everything from peer-to-peer company loans, varied alternative finance solutions, as well of course as the traditional financing offered by Canadian chartered banks.

Those online business loans referenced above are popular and arose out of the merchant cash advance programs in the United States. Loans are based on a percentage of your annual sales, typically in the 15-20% range. The loans are certainly expensive but are viewed as easy to obtain by many small businesses, including retailers who sell on a cash or credit card basis.

Depending on your firm’s circumstances and your ability to truly understand the different choices available to firms searching for SME COMMERCIAL FINANCE options. Those small to medium sized companies ( the definition of ‘ small business ‘ certainly varies as to what is small – often defined as businesses with less than 500 employees! )

How then do we create our road map for external financing techniques and solutions? A simpler way to look at it is to categorize these different financing options under:

Debt / Loans

Asset Based Financing

Alternative Hybrid type solutions

Many top experts maintain that the alternative financing solutions currently available to your firm, in fact are on par with Canadian chartered bank financing when it comes to a full spectrum of funding. The alternative lender is typically a private commercial finance company with a niche in one of the various asset finance areas

If there is one significant trend that’s ‘ sticking ‘it’s Asset Based Finance. The ability of firms to obtain funding via assets such as accounts receivable, inventory and fixed assets with no major emphasis on balance sheet structure and profits and cash flow ( those three elements drive bank financing approval in no small measure ) is the key to success in ABL ( Asset Based Lending ).

Factoring, aka ‘ Receivable Finance ‘ is the other huge driver in trade finance in Canada. In some cases, it’s the only way for firms to be able to sell and finance clients in other geographies/countries.

The rise of ‘ online finance ‘ also can’t be diminished. Whether it’s accessing ‘ crowdfunding’ or sourcing working capital term loans, the technological pace continues at what seems a feverish pace. One only has to read a business daily such as the Globe & Mail or Financial Post to understand the challenge of small business accessing business capital.

Business owners/financial mgrs often find their company at a ‘ turning point ‘ in their history – that time when financing is needed or opportunities and risks can’t be taken. While putting or getting new equity in the business is often impossible, the reality is that the majority of businesses with SME commercial finance needs aren’t, shall we say, ‘ suited’ to this type of funding and capital raising. Business loan interest rates vary with non-traditional financing but offer more flexibility and ease of access to capital.

We’re also the first to remind clients that they should not forget govt solutions in business capital. Two of the best programs are the GovernmentSmall Business Loan Canada (maximum availability = $ 1,000,000.00) as well as the SR&ED program which allows business owners to recapture R&D capital costs. Sred credits can also be financed once they are filed.

Those latter two finance alternatives are often very well suited to business start up loans. We should not forget that asset finance, often called ‘ ABL ‘ by those Bay Street guys, can even be used as a loan to buy a business.

If you’re looking to get the right balance of liquidity and risk coupled with the flexibility to grow your business seek out and speak to a trusted, credible and experienced Canadian business financing advisor with a track record of business finance success who can assist you with your funding needs.

ENSURE YOU HAVE A CLEAR-CUT TRAVEL POLICY SET UP
A well-defined travel policy is an important (and cost-effective) manner of effective travel management. A specified travel policy should outline clearly stipulated guidelines for all employees with regards to responsibilities and while traveling; travel arrangements and travel expenses.There are a numerous factors to consider when compiling a travel policy for your company.Although cost-effectiveness is an important requirement, it is vital that you don’t jeopardies the safety and quality of travel service, as well as compromise on travelling employees’ travel needs. Offer a small variety of options that allow employees to select one that suits them the best. You can avoid unnecessary compromise even further by letting employees offer their thoughts and/ opinions during the decision-making process.Always ensure that you always have your employees’ up-to-date contact details on hand, in case of emergencies.Responsibility regarding expenses – personal, business, leisure etc. – must always be clearly and precisely set out.GET A GRIP ON TRAVEL TECH
Travel planning has undoubtedly been revolutionised by the rise of online booking apps. The trouble with the increase in availability of such tools is choosing which one to use for your business travel planning.A great option is to have a ‘personalised’ online booking tool that has been custom made according to you business’ particular travel policies and needs. Although having your own travel tech has its advantages – such as being able to increase efficiency with built in approval processes and managing your travel at any time – there are a few disadvantages that should be noted. The initial designing and assembly, as well as the continued administration, of a custom online booking tool can be rather steep. Another drawback is that all the research necessary will be your responsibility. It begs the question whether the convenience is worth the required effort and cost.A terrific option is to make use of a travel management company (TMC). Working with a TMC means acquire an experienced travel management asset that is a devoted travel manager. A travel manager can assist you in making the best travel decisions, based on your unique business requirements. Further benefits include help with a multitude of other details, such as VISA applications; arranging ground transport; arranging Forex and taking care of travel emergencies.The smart choice would be to use a combination of the two. The advantages of TMCs are clear and they often have an online booking tool that companies can use. This way you get best of both – the convenience and control of managing your travel bookings yourself, as well as the individual support and assistance with more complicated and/ or time-consuming processes.ENSURE TRAVELLING EMPLOYEES’ SAFETY
Although business travel is an essential and probable part of most businesses, is doesn’t come without risks. A company has a duty of care to its employees. This means it has a legal (and moral) obligation to elude risk of injury to an employee during a business trip, as much as possible. The onus is on you (the travel planner) to ensure that all the proper safety plans and measures are in place. This means assigning sufficient travel insurance, which includes medical cover, lost luggage, flight cancellations, as well as natural disasters and terrorism and everything in between.Employees must be informed of the associated risks of their destinations, before travelling, and need to be informed of the course of action to follow in case there is a travel emergency.It is vital to always know where your companies travelling employees without exception. There is a multitude of apps and online tools that you can use to help keep track of and stay in touch with your travellers.PRE-BOOK TO SAVE
You can save more when you plan ahead when it comes to making travel arrangements. Research has proven that business travellers who only book their flights a day beforehand – can end up paying as much as 200% more for their flights.In contrast – airfares are generally the cheapest from three weeks and more before the departure date. Employing an advanced purchase strategy, you can reduce or moderate the influence of price fluctuations on your company’s travel budget. Although it’s not always possible to book so far in advance as meetings and schedules are sometimes changed at the last minute), it is definitely worth the effort in the long term.APPOINT THE MOST QUALIFIED PERSON
Travel planning is not an easy task – it’s far more than just coordinating itineraries. The responsibilities of a travel manager range from bookings, policy management, budget approvals, reporting and handling travel emergencies. Then there’s the time-consuming task of finding the most affordable flights, ground transport, accommodation etc.Managing your company’s travel plans yourself has some advantages, such as great understanding of the needs and schedules of your travellers. However, employing an experienced and well-equipped corporate travel agencies will save you a great deal of the hassle. Quality TMCs have a comprehensive understanding and knowledge of the travel industry, which empowers them to know when, how and where to find and book the best offers. Furthermore, TMCs often have global buying power and long-standing relationships with suppliers – which offer you the added benefit of being able to secure discounted fares on larger travel volumes.

My patients frequently ask me if using nutrition bars would be of any benefit to their overall health or weight loss plan. I admit, even I grab one of these bars every now and then for a quick snack, or even lunch on a really busy day sometimes. In fact, I would much rather have my patients substitute a good nutrition bar for lunch than grab a high-saturated-fat burger and fries.These bars are convenient, they don’t require refrigeration, and, if you read labels before buying, they really can help you get some good nutrition in a hurry. Here’s what I tell my patients about the pros and cons of the “nutrition on the run” that these bars offer.Are All Nutrition Bars Alike?Seems every time I go to the health food store, there’s a new nutrition bar promising to be better tasting, or more vitamin/protein-packed than all the other bars! However, what tastes good to me may not to you, so, different flavors aside, let me explain what ingredients should be in a good nutrition bar.•Protein:For meal replacement, a good bar should have at least 15 grams of protein, preferably from whey or even casein protein and not soy, gelatin or collagen protein. Many bars, however, contain soy protein isolate, or a blend of whey, casein, and soy. Soy products can interfere with thyroid hormones as well as imbalance male and female hormones, as it adds plant estrogen, or phytoestrogens, to your body.•Fat: Should be fairly low in fat, not more than 3 grams saturated fat and 0 trans fat, 10 grams total fat. Steer clear of bars that contain cholesterol-boosting oils like palm kernel oil. Bars with polyunsaturated vegetable oils like olive, safflower, or coconut oil are best.•Carbohydrate: For meal replacement, there should be a balanced fat/carbohydrate/protein ratio, in a 40/30/30 distribution, i.e., 30% protein, 30% fat, 40% carbohydrate. If you want added protein only, then the carb and fat level can be lower than this distribution. Some bars can contain a whopping amount of sugar, however! Limit sugar to 10-15 grams.•Sugar Alcohols: Many low carb nutrition bars contain sugar alcohols. These help sweeten the bar without adding carbohydrates. When figuring the carbohydrate, or glycemic load, they should be subtracted from the overall carbohydrate content. For example, if the bar contains 25 grams of carbohydrate and also 20 grams of sugar alcohols, then the effective carbohydrate count would only be 5. Some people get digestive upsets from sugar alcohols which can be a drawback to bars that contain it.•Vitamins: A good bar has at least 1/3 of the minimum daily requirements for vitamins, usually in the 30% range for crucial vitamins like C, E, D, A. This is especially important if you are using a nutrition bar as a meal replacement.•Minerals: Many good bars also contain 1/3 the minimum daily requirement of necessary minerals like potassium, magnesium, calcium, zinc. Again, should be in the 30% range for meal replacement use.•Fiber: Many nutrition bars contain very little fiber, but several brands have between 4-6 grams. Or, at least have a piece of fruit, or a salad, with it to make up for fiber deficiencies.•Calories: If you’re using it as a meal replacement for a quick lunch, your nutrition bar should have between 200-300 calories in it. Otherwise you’ll be at the snack machine in an hour!Are There Any Cons to Nutrition Bars?We’ve talked about what I recommend a good bar should contain. Now, are there any real disadvantages, or cons, to using nutrition bars? As I tell my patients, I think that answer depends on how you use them. With that in mind, here are some possible disadvantages to using nutrition bars that you might consider when deciding to use them everyday or just occasionally:•Cost: Most good nutrition bars can cost anywhere from $2 to $3 a piece. This can get expensive if you use them everyday. However, if you use them as a meal replacement for one meal a day, that’s still less than the cheapest burger place for lunch, a lot less fat and salt, controlled calorie amount, and more vitamins and minerals.•Excessive Nutrition: If you’re using a nutrition bar for just a snack here and there, and not as meal replacement, look for one that has less than the 30% minimum daily requirement of vitamins and minerals to avoid over-intake of nutrients. This is especially true if you are taking a good vitamin/mineral supplement already everyday and eating well at your other meals. Too much Vitamin A can pose liver problems. Too much Vitamin E can result in excessive bleeding should you cut yourself.•May Contain Herbals: Steer clear of nutrition bars that contain “energy boosting” herbs such as ephedra, bitter orange, or even caffeine from green or black tea extracts which can affect some people’s heart rate or blood pressure adversely.•Taste: The taste of these bars can vary widely from brand to brand and price range. Some are in the “acquired” taste category and can be rather dry. Then there are others that really taste great. You really have to shop around and try a lot of different ones to find one you like and could eat on a regular basis.If you take medications, it’s always a good idea to ask your doctor about adding anything with vitamins/minerals in it that may interfere with absorption of your medications. Nutrition bars should not take the place of a balanced diet of whole foods, but they can provide a satisfying solution to a chocolaty-sweets craving, or provide a quick and nutritional meal on the run!