Response from: Greg Balanko-Dickson    (07/25/06 11:09am)

I thought I would comment on my own post to clarify my thoughts as this post might read a bit 'critical'. It is tough to write short posts and provide a well-rounded perspective so this is my attempt to clarify all my thoughts on this issue and working with the BDC.

The BDC does have a challenging job because the entrepreneur just wants his/her money. To the business owner it seems simple enough, just tell me yes or no.

The truth is that many of the loans that the BDC does are loans that would not be possible through regular banking and financing channels. Entrepreneurs should be cautious when they get positive feedback and not put the cart ahead of the horse. Be patient and do not spend the money until you get it.

The BDC has it's own due diligence to conduct to protect the bank. Plus when something involves Intellectual Property (IP) - this only complicates a decision because if I was investing in a company with IP I would want to do my own research into the IP and they market.

What the Ottawa Sun piece did not say was how much of the delay was due to the business owner and preparing a business plan. I have seen many an experienced business owner freeze up writing a business plan.

So just remember, there is always more to a story than what is possible to get across in a short post. Hopefully this helps clarify the Ottawa Sun's article.

Response from: online prescription pharmacy    (06/19/07 6:20am)

Thru a bank you can get loans and money for different bussinesses that you are developing. The idea of credit is very much appreciated in the not so emproved countries.

Response from: Start a corporation    (07/04/07 1:16pm)

I guess nine month is a little too long even for a bank. I know there are many things to do for a process to work right but we cannot complain about the wide range of solutions these days.