It’s More Than Just a Loan!

Starting or growing a business in rural Alberta takes passion, determination, and sometimes, financial support. At Community Futures Wild Rose, we’re here to help with all three. We offer flexible loan options up to $300,000, but more than that, we offer personalized guidance, coaching, and business support from people who understand rural business.

What Kind of Loans Do We Offer?

Whether you’re launching your first business or expanding an existing one, we’ve got you covered:

• Business start-up loans
• Expansion and renovation loans
• Buying an existing business
• Equipment or inventory purchases
• Technology investment
• Real estate purchases
• Additional working capital

Cost-Volume-Profit (CVP) analysis is a valuable tool for small business owners. It empowers them to make informed decisions about pricing, production levels, and overall profitability. In this article, we break down CVP analysis in simple terms, explain its relevance to your business, and provide practical insights on how to apply it effectively.

In the realm of entrepreneurship, ambition often outpaces available resources. As your business grows, you may need capital to expand operations, invest in marketing endeavours, or hire new staff. In such moments, small business grants can offer a pathway to growth without the burden of added debt or relinquishing equity.

Capital assets, dividends, gross profit margin, floating liabilities, working capital… When it comes to owning and running a small business, there are many financial terms involved. It can be overwhelming! Like most small business owners, you probably find it more satisfying to create products and connect with customers than to worry about finances. However, understanding key financial terms is crucial for the success of your business.

Efficient record keeping and receipt organization is a crucial part of financial management in small business. It ensures you have a clear picture of your expenses, simplifies tax filing, and helps you stay on top of your budget. That said, most small business owners find this aspect of running a small business to be their least favourite! The task of keeping track of receipts and financial information can be daunting. Where does one even start? In this blog post, we'll provide some simple guidance to get you started.

As a business, you may have a mission and a vision statement. These were likely established when you created your Business Plan and defined your Brand Identity. But what are your business goals?

Now that personal tax season is here you will need to start gathering up all your tax slips to report your income and deductions for 2022.  With a lot of institutions and businesses going paperless you will need to determine what tax slips may be coming by e-mail or that you need to sign into your account to download versus arriving in the mail. 

How to be an Attractive Borrower

Have you heard of The Five C's of Credit? It is a classic banking industry guideline that lenders use when assessing the merits of a loan application. The Five C’s of Credit are Character, Capacity, Conditions, Capital, and Collateral.

The point at which a small business’s sales exactly cover its expenses is called The Breakeven Point. Performing a calculation called a break-even analysis can help business owners determine the amount of product they must sell to generate a profit. Knowing your Breakeven Point is crucial for selecting product and service pricing and adjusting operating costs when necessary. To calculate your Breakeven Point, you must know your fixed costs, variable costs, and the selling price of your product or service.

Being a successful small business owner requires that you understand your company's financial statements. Fortunately, the three key financial statements you’ll be working with are more straightforward than you might think.