business

Key government financial programs & business aid

Find out about possible government financial programs and resource options available for your business.

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It’s no secret that businesses have seen their fair share of changes in the last few months. As owners, C-levels and managers adapt, it’s a good idea to find all the available financial support and resources at hand. While Liquid Capital can provide much-needed cash flow, this can also be a supplement to other resources, including government grants.

At this time, both the American and Canadian governments are providing some different funding options for small and medium-sized businesses. Here’s a list of some of the highlights below.

USA: Government financial programs

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1. SBA: Small Business Guidance and Loan Resources

The Small Business Administration has by far the most comprehensive funding resources available when it comes to seeking financial assistance due to the coronavirus. With content available in 17 different languages, it includes coronavirus funding options, guidance for businesses and employers, as well as information on local assistance, SBA products and resources, and government contracting.

2. Paycheck Protection Program

The SBA is also offering a Paycheck Protection Program, which provides a loan to be used towards keeping your employees and workers on the payroll. The SBA will also forgive the loan, granted it is used for payroll, rent, mortgage interest or utilities. Applications can be completed directly from the SBA website.

3. Economic Injury Disaster Loan Emergency Advance

The SBA is also offering this program with loan advances up to $10,000 of economic relief for businesses that are currently experiencing temporary loss of revenue. Additionally, they have recently revised the eligibility criteria to include agricultural businesses.

4. U.S. Chamber of Commerce: Coronavirus Small Business Survival Guide

The U.S. Chamber of Commerce has compiled a list of resources to help small businesses throughout these uncertain times. With content available ranging from general coverage, information on the federal government’s coronavirus stimulus legislation, small business loans, how to manage employees as well as remote work

5. USA Government: Finance your business

The United States Government has compiled a list of funding sources that they are backing including links for small business loans and other government funding options for your business. This is part of their Coronavirus Aid, Relief, and Economic Security Act.

Canada: Government financial programs

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1. Regional Relief and Recovery Fund 

Offered by the Government of Canada, the Regional Relief and Recovery Fund (RRRF), gives businesses located outside of metropolitan areas access to additional financial resources. $675 million of the near $1 Billion total of the fund will be allocated to help support regional economies. Applications can be completed directly from one of the Regional Development Agencies listed on the page.

2. Government of Canada COVID Benefits Quiz

The Government of Canada will be offering a variety of financial services during the coronavirus pandemic, ranging from the individual to small and big businesses alike. To navigate which option is best suited to you this quiz will point you in the right direction.

3. Relief measures for Indigenous businesses

Additionally, the Canadian government has set up a specific relief fund for Indigenous businesses, which includes up to $40,000 for small and medium-sized businesses. The capital is divided with $30,000 as an interest-free loan and a non-repayable contribution of $10,000. Consult the contact information on the dedicated page for more insights on the application process.

4. Canada Enterprise Emergency Funding Corporation: Large Employer Emergency Financing Facility

This fund was specifically set up for large Canadian employers who need financial assistance due to the pandemic, and will provide loans upwards of $60 million. The minimum annual revenue requirement is $300 million or more, however, businesses in the financial sector are excluded from applying. The applications should be completed by emailing LEEFF-CUGE@cdev.gc.ca to register intent. 

5. Canada Mortgage & Housing Corporation: Canada Emergency Commercial Rent Assistance

The CMHC has set up a rent relief program from those who own commercial properties and have small businesses as tenants who have been affected by the coronavirus. Those eligible for the program will be able to acquire forgivable loans if they agree to reduce the rent by 75% for the months of April, May and June, as well as meet operating expenses on commercial properties. Application can be completed directly through the website.

Additional Resources

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Better Business Bureau

Although not specifically for funding options, the BBB does offer a range of helpful business tips on navigating the pandemic — plus information on price gouging and scam alerts. Additionally, they offer a COVID-19 toolkit for both Canadian and American businesses.

 

Next Up: 6 comparisons between invoice factoring and cash advances


At Liquid Capital, we work with clients who operate businesses in a variety of industries and office structures — whether from busy downtown buildings, the manufacturing floor, on-the-go or from their home office space. We’re business people ourselves, and our company is built on a network of locally owned and operated Principal offices. Whenever you’re talking to Liquid Capital, you’re talking directly to your funding source and a fellow business person.

Images from Pexels, and Pixabay

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Robert Thompson-So

As Liquid Capital’s Chief Strategy Officer since 2013, Robert fills a major organizational role, working within the executive team and with the board of directors to help identify, plan and execute strategic initiatives across various lines of business. These may include capitalization, marketing/sales, structuring, developing new markets, M&A initiatives and more. In the financial services industry since 1992, Robert brings to Liquid Capital a background in capital markets, restructuring, mergers/acquisitions, and investment advisory—all areas that contributed to his interest in alternative investment and financing. As active as his job is, Robert is also driven to stay active in his spare time, working out, playing volleyball and rock climbing.

“I truly believe the alternative financing industry is on the cusp of becoming more the norm than the exception. Banks are re-evaluating their customer service and business models, but we’re already there with a quick and easy process to get businesses the capital they need to grow.”

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Erico Di Teodoro

Erico Di Teodoro est directeur de comptes chez Liquid Capital WGP Inc. située à Montréal, au Québec. Cette firme offre du financement de rechange aux petites et moyennes entreprises (PME) ayant besoin de fonds de roulement.

Erico met à profit ses connaissances et son expérience pour aider les PME à réaliser leur plein potentiel. Dévoué et débrouillard, Erico est toujours disponible pour s’asseoir avec ses clients et trouver des solutions uniques répondant à leurs besoins individuels. Il est fier de pouvoir leur venir en aide quand les banques se désistent.

Erico offre aux propriétaires d’entreprise la tranquillité d’esprit en sachant que Liquid Capital WGP est là pour répondre à leurs besoins de financement.

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Ramtin Zojaji

Ramtin Zojaji is the owner and President of Liquid Capital Ventures Inc., located in Toronto, Ontario, which provides small, medium, and emerging middle-market businesses with a wide range of customized and creative financing solutions.

Ramtin has a Bachelor’s of Mechanical Engineering and an MBA. With 14 years of experience in corporate finance, sales, and entrepreneurship in Iran, Switzerland, and Canada, he has the knowledge and experience necessary to help businesses grow. Ramtin understands what it takes for small and medium-sized businesses to succeed – because he’s a small business person himself.

Passionate about helping the local business community, he works to combine the high quality service of a small business with the power and resources of a larger corporation. Ramtin’s proudest professional achievement to date is helping a sporting goods importer and distributor by offering Invoice Factoring, Purchase (Inventory) Financing and a Working Capital Term Loan. Due to Ramtin’s assistance they passed their sales budget and forecast by 25% for the first three quarters of 2016 and also were able to sell to one major retailer and the top three sporting goods distributors in the U.S.A and Canada.

Ramtin is a member of the Scarborough Business Association, the Turnaround Management Association, the Association of Chinese Canadian Entrepreneurs, and volunteers with Sick Kids Hospital. Outside of the office, Ramtin enjoys fine dining, live music, and outdoor activities such as skiing and tennis with his wife and five year old son.

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Gregory Norris

Greg Norris owns and operates Liquid Capital Advisors Corp, located in Newmarket. Greg provides Ontario business owners with a variety of financing tools to help them more productively grow their business when the bank says ‘NO,’ without having to give up equity.

Greg understands when a business owner is in a cash crunch situation it can be hard on business partner(s), employees, vendors, their families and themselves. Greg is dedicated to providing owners with the money they need to run their business and reduce unproductive stress so they can sleep at night.

Throughout his career, Greg has developed his business acumen and possesses the strong traits necessary to help business owners reduce their financial stress while growing their business. An excellent listener, Greg focuses on fully understanding the issues of every client to match them with the best possible solution for their business challenges. He pairs this with a “get it done” attitude and bottom-line thinking to quickly and efficiently improve the financial situation of his clients so they can sleep at night.

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Jonathan Brindley CPA, CA

Cash flow is the life blood of any business. Jonathan helps business owners focus on their business rather than their bank balance! He provides alternative financing solutions to help companies grow and prosper.

Jonathan Brindley CPA, CA has a passion for making sure his clients succeed.

He works with small to mid-sized companies that have the capacity to grow but are limited because they don’t have sufficient working capital.

As the owner of Liquid Capital Advance Corp and as a finance leader for the past 25 years he provides growth capital through the funding of accounts receivable and purchase orders with a flexible customer orientated business model.

Jonathan’s clients benefit from his experience and practical approach to offer financial options which really solve their financial problems.

Rick Naor

Rick Naor

Personalized service for your financing needs

Rick Naor manages Liquid Capital Source Corporation, located in Toronto, which specializes in helping businesses access working capital through alternative financing products such as receivables financing, import financing, inventory and equipment financing, as well as Asset Based Lending.

Rick is not your average businessman. His personal credo, variety is the spice of life, is represented by a unique combination of academics and business experience. Rick’s Engineering degree and MBA has enabled him to understand the technical and financial complexities associated with today’s business environment, He has held career positions in small business, software development and banking.

As a young man, Rick worked in his family’s business. It provided him with first hand exposure to the financial demands of small enterprises. This was a genuine learning experience. After spending some time developing software for a large engineering firm, Rick joined a major financial institution. There, amongst many projects, he managed the financial intricacies of integrating competing banks within a large joint venture. He also developed a Program Management Office which involved the evaluation, prioritization and selection of revenue generating and cost savings initiatives.

Big or small, businesses rely on professionals to help them grow. Rick goes the distance for his clients – listening to them, assessing their needs and helping them through their challenges. His personalized service helps businesses to grow and prosper.

Rick is married with two daughters. He enjoys family time, is involved in community activities and makes time for skiing and fitness. Rick’s serves the Greater Toronto Area, and may be reached at 416-966-2206.

Richard Iacobelli

Richard Iacobelli

Richard (Rick) Iacobelli is the owner and principal of Liquid Capital Midwest Corp, headquartered in Leamington, Ontario, which offers a fully comprehensive package of financing alternatives to businesses in the region.

Always dedicated to his clients, Rick prides himself on being available anytime, 7 days a week, to answer questions that they may have regarding the portfolio of products or simply to talk business. This strong commitment to personal service, and his appreciation that business owners do not work traditional banking hours, is one of his distinct competitive advantages in the marketplace.  Rick, the owner and decision maker, will meet with clients at their place of business when it is convenient to them- day or night!

Rick is a Professional Engineer with an MBA and 20 years of progressive management experience in a large manufacturing environment.  The last 13 years of which, he spent in a senior management capacity.  Additionally, over the past 18 years he established a successful real estate and training & consulting business that he built during his off time.  In 2008 he cut ties with the corporate world and began to focus entirely on his personal business interests and has never looked back.

Rick is no stranger to hard work. He is accustomed to and enjoys investing 12-14 hours a day managing his businesses and serving his customers.  Rick possesses a broad range of experience at both the corporate and entrepreneurial levels including finance, operations, and technical support that he can leverage to help you grow your business.

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Liliana Rizopulos

Liliana Rizopulos is the owner and President of Liquid Capital Financial Services, providing alternative financing and working capital solutions to small and medium-size companies.

Over the years Liliana has seen many businesses struggle due to the lack of capital they need in order to sustain their growth and their day to day operations.  With nearly 20 years of international experience in the financial field, Liliana has the expertise to help companies find the best solutions that will allow them to grow and reach their full potential.

Liliana has extensive experience in providing financial solutions globally to a wide range of industries, including transportation, telecommunications, mining, and professional services. Prior to joining Liquid Capital, Liliana was a trusted advisor in international trade and finance at the Swedish Export Credit Agency,  and before that, she worked in different multinational and financial institutions in the United States and Colombia, offering financial solutions and helping her clients succeed.

Liliana holds an MBA from Thunderbird School of Global Management, and has a BSC in Finance and International Relations.  She speaks English, Spanish, Portuguese and Swedish, and has lived in six different countries. She is a member of the Swedish Canadian Chamber of Commerce, the Oakville Chamber of Commerce, and the Burlington Chamber of Commerce.