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When it comes to equity financing these terms seem appropriate.  I advise business owners to do a lot of investigating before they consider any kind of dilution. Sharks:  They hang around in packs, but you don’t see them coming.  Each one rips off a mouthful and then backs off to see how you handle it.  [...]

Over the years I have worked with hundreds of business owners and here is what I’ve noticed about the most successful ones: Sales: The owner is or was the best salesperson.  There is a team and processes to manage the bulk of the work which is monitored closely.  They understand the close relationship between price [...]

Look up “business finance” on the internet and you will find Commercial Loan Brokers (CLB’s) all offering the same thing, a one stop solution for every kind of business financing need.  Offers include quick fundings with low rates requiring very little information which is impossible.  The temptation to click is too great for those in [...]

Imagine a world where the internet is the only place for business owners to get information about financing.  All they would see is “low rates, easy qualifying and quick payouts” and “click here”.  Everyone knows it’s all lies but apparently okay to say because it’s just Sales. Businesses development on the other hand takes time [...]

The last two years have been the greatest journey I’ve ever been on, from unemployment in the middle of a pandemic to where I am today.  I’ve been able to combine my decades of experience with a new and improved set of business financing tools in a high-tech environment.  I continue to learn something every [...]

I haven’t Blogged for a while as I was selling our house, launching the kids, and downsizing into a condo.  True Viking Finance also had a busy first year.  I look forward to 2022 but I think we all should enter it slowly so happy new year. We can’t be sure what the business climate [...]

Every time someone starts a conversation by asking “what is your interest rate” I should just hang up.  The chances of me doing business with them are slim.  They are either looking for a “bank like” rate and shopping around or I will explain the facts and never get a call back. I find that [...]

Today, all SME lenders begin their application process by checking the business owners personal credit score. Whether applying for $10,000 or $500,000 if the number is too low the applicant is declined. If the number is high enough there could be an approval within hours and a payout within days. There are three credit bureaus, [...]

I do not like the term SME (Small to Medium-Sized Enterprise). It sounds derogatory when some people say it, and far too broad to provide any value to anyone for anything. In Canada 98% of businesses are SMEs.  What is the value of a category if nearly every business is included? There are 1.1 million [...]

Business finance professionals HATE having to constantly ask for updated financial statements and business owners HATE being asked.  Underwriters on the other hand LOVE financial statements and spend hours pouring over them.  The subsequent report they write can have a significant impact on the future of the business. When business owners ask me why they [...]