Financing Your Business
Once you have completed your business plan, you should be able to identify both the amount and type of financing that you will require to carry out your project.
You will likely need financing to assist with the initial construction and start up costs associated with your new and or expansion project. In addition, you may need financing assistance to support your company's working capital requirements.
There are a number of different sources available for financing your business venture. These sources include:
- banks
- credit unions
- leasing companies
- term lenders
- trust companies
- government lending agencies
- private investors [sometimes called "angels"]
There are various types of financing products available through the different sources mentioned. These include:
- capital leases
- demand loans
- equity
- mezzanine financing
- operating leases
- operating lines of credit
- subordinated debt
- term loans
To access further information resources regarding financing and financial institutions, see:
Financing - Information Resources on the Web.
You should note that there are no Alberta Government grant programs for tourism businesses. In fact, the province passed legislation in 1996 that forbids the Government from providing direct financial assistance to businesses, whether by way of loans, loan guarantees or grants. The Federal Government has a very limited number of grant programs available for tourism businesses, and those that are available are primarily wage subsidy oriented programs.
