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This is an Invest Ottawa event, presented by TD

About this workshop:

Accessing startup capital is essential for any young business that is looking to grow. Raising money through equity is a common path, but in many cases, turning to a financial institution to borrow funds is the best option. This panel will discuss the types of debt programs that are out there for entrepreneurs, how to prepare for successful discussions with a financial institution, and the risks and opportunities associated with taking on company debt. Neil Schwartz of Mann Lawyers LLP leads a panel of local financial and accounting professionals to help solve the mystery of how to borrow money to grow the enterprise.

Key points that will be covered:

• Recognizing the value of financial projections: Understanding the importance of financial projections and learning to budget effectively while also looking ahead with cash flow management.

• Establishing the right team: The importance of assembling a team of professionals, including bankers, accountants/bookkeepers, and lawyers, to guide you through the financing process.
• Understanding personal guarantees: Being mindful of what a personal guarantee means and considering the implications if things do not go as planned. Assessing your readiness to take on that risk.
• Funding options: Exploring the pros and cons of early capital issuance via shares versus bootstrapping. Considering alternatives such as non-dilutive funding, grants, support from friends and family, stock options (traditional or reverse vesting), SAFE agreements, and convertible debt.
• Requirements for financing: Familiarizing yourself with the specific requirements that entities like the Business Development Bank of Canada (BDC) have for startups seeking financing.
• The role of Futurepreneur: Looking to entities like Futurepreneur as a valuable funding source specifically aimed at young entrepreneurs.
• Banking advisory services: Leveraging banking advisory services to gain insights and support in navigating the funding landscape.

Our panelists:

Neil Schwartz (Business Law Practice Lead, Mann Lawyers)

Marlene Johnson (Relationship Manager, Commercial Financial Services, RBC)

Peter Reilly (Senior Account Manager, Small Business, BDC)

Wilson Li (Partner, Logan Katz LLP)

There will be a Q&A portion following the panel discussion.