Now that your business is on track, you have plans to help it grow. The question is how to finance growth. Is it time to take out a first loan?
This is an important step in the life of a business, one that is not without its share of concerns for its leader. Does the SME have the financial capacity for it? Is it ready to shift gears? More importantly, what is the most appropriate financing?
"Aside from wondering about their borrowing and repayment capacity, the stress experienced by many entrepreneurs mainly comes from poor knowledge of the financial tools available," says Valérie Bornais, Manager at BDC's Entrepreneurship Centre in Quebec City. "There are lots of options to fulfill your ambitions."