For some business owners, the thought of refinancing debt can feel like a defeat or last resort. The simple reality is that refinancing can be a life saver in the right situation; adding real cash back into the business monthly, instantly taking pressure of cashflow, and not to mention, personal stress for the owner. In […]
Accounts Receivable Financing (“A/R”), or Factoring as it is also called, is a specific financing product that allows businesses to move to cash faster by selling the receivable to a finance company at a discount. At Patron West we have always maintained that our products and services have to have real economic value for our […]
Trucking is all about living the dream. The open highway as your workplace, with scenic vistas instead of office walls. And if you’re an Owner/Operator or independent, you’re the boss: king or queen of that road. But there are pitfalls. Huge ones for Owner/Operators with expenses like fuel, tires, insurance, repairs, and the truck payments […]
I would never want to undermine the value of relationships. Our networks, built with connections we nurture over years and decades, are among an entrepreneur’s most meaningful and valuable assets. Many businesses are built on referrals, where trust and reputation are integral to ongoing, unquestioned, and often very profitable transactions. But what about when things […]
Things are becoming exciting in the business world again. It’s been years since many of us have seen a similar level of confidence in the economy, particularly in energy-related sectors—and lately pretty much everywhere. And despite lingering uncertainty on global, national and provincial levels, investment and growth continue to track upward. No question momentum is […]
Leverage Our Network to Improve Your Approval Rate The process is familiar and repeated. Your business needs debt capital and you first go to your chosen source at one lender, usually your bank or credit union. At the end of a longer than necessary process and repeated back and forth questions and requests there is […]
Diversification is a risk management technique to reduce volatility, produce stable returns and deliver a higher net benefit. A diversified capital pool will have a cost that lies between single source debt capital and opportunity cost. The opportunity cost is the lost revenue from being unable to operate due to a lack of capital. Most […]
How do you not take it personally? It’s your business and you have put all that you have into it. With each milestone, success and at times failure, your business and you have been indistinguishable. But, when it comes time to make decisions, decisions that will determine the future of the business, it might be […]
Being more successful than you anticipated is a great feeling. Coming up short when you didn’t expect to isn’t as enjoyable. Both are warning signs to potential financing and investment partners. You shouldn’t be expected to predict the future but you should have a strong plan and be ready to back it up. At the […]