Financing how-tos THE LATEST figures from the Canadian Federation of Indepen- dent Business (CFIB) show loans under $500,000 accounted for more than 33% of the totai com- mercial loans approved by B.C.’s chartered banks in 1987. Yet a CFIB survey indicates 24% of its membership found it was tougher to obtain financing in the last half of 1990 due to cut- backs in the amount of credit of- fered by the banks in response to weakening economic conditions. All the more reason why you need te be prepared with the right information when you approzch the banks for financing, says Bob Laing, CGA, manager, corporate lending, RoyNat Inc. “The banks are looking for in- formation on your business and its prospects. Basically, all the in- fermation that should be contain- “ed in your business pian,’’ says Laing, who has been a Certified Write off IF YOU'VE still decided to “go for it’? after doing your business plan, asking for a loan, finding out about the liabilities and all the taxes, take heart — there is one more perk! Write offs! As a general rule of thumb, you’re entitled to deduct all ex- penses that are incurred in order to earn income. But like everything else, says the CGA Association of B.C., it isn't as simple as it used to be. Here area few examples: . @ An in-home oijfice is only deductible if you don’t have office - outside the home as well. @ Expenses associated with " operating your car are deductible General Accountant for eight years, “It’s imperative to really do your homework before you ap- proach a bank,”’ says Laing. “Arrive armed with facts and figures to back up your projec- tions. Banks want to know that you aren’t just’ pulling numbers out of the air."’ Of course, banks also want to know what you can offer them in the way of security and collateral — including what personal guar- antees you’re prepared to offer. _ If your loan application is turn- ed down, don’t despair. Ask why your proposal didn't fly and how you might improve it. Studies have shown that close to 60% of small business loan appli- cants who are turned down go on to obtain the necessary financing at another bank after modifying their proposal. expenses use your car for business versus personal uses — if you operate your car 60% of: the time for business then 60% of maintenance and repair costs is deductible. @ Similarly, the gas you burn driving to and from your office isn’t deductible — it is if you have a meeting with a client along the way. @ If you operate your business out of your home, the base rate of your phone line isn't deductible — a separate business line is deduc- tible as are your long distance business charges. A CGA can advise you on what’s deductible. But you must keep al! your receipts. A NEW cellular phone store recently opened its doors in North Vancouver at 1234 Marine Drive. The location is the second store for Cell City, che other one being near Oak and Broadway in Vancouver. The North Vancouver franchise store is owned by Bruce Gow and Moyra Falconer, who have been in the cellular business since 1987. The store ypecializes in selling ceftular phones and pagers and is one of only about two such steres on the North Shore. Ph res on il Share, | Gai GeITY communicantons iro. IN ASSOC WITH tBCCeilular | PRESENTS .. . *FREE WEEKEND CALLING (Midnice Friday to Midnite Sunday) Plus * No conerace * 30 minutes free airtime All for juse 29.95/month CALL MOTOROLA BLOWOUT SALE : 459.00 984-7017 cane 699.00 : 1234 MARINE DR. Flip-phone 959.00 ¥% block west of Pemberton “a aomene €% BC Cellular THE “PROVEN TEA? Anndes Devine and Sue Gedge attribute their success in reat estate to hard work and defer- mination to provide the finest possible service to their clienis. The partnership was formed shortly afier they Joined Royal LePage in 4985. Their success can be measured by consistently receiving top per- formance awards, the Royal LePage President's Gold Award and The Greater Vancuver Real: Estate Board Medailion Club, and more impor : bz the appreciation of satisfied clients and ANNDEE DEVINE & SUE OEDOE the recomrnendations and refe-tals received. Anndee and Sue recognize that each client's needs are unique and feal strongly that.- thelr approach should be sensitive, honest and straightforward, providing: clients with all the information required to confidenily make an educated decision. . Anndee and Sue will be pleased to assist you with all your real estate reeds. They can | be reached at their office, 1224 Lonsdale Ave, North Vancouver, or phone 985-9544, ROYAL LePAGE 1221 Lonsdale Ave., North Vancouver 985-9544 in proportion to the amount you ; The North Shore's Business Info Centre # Information on Startup or Expansion . ¢ Publications for Purchase or Loan © Business Video Tapes © Referral Service ° B,C. Business Network ¢ Canada Opportunities Invesiment Network (COIN) e Program information — e Seminars North Vancouver Chamber of Commerce 434 East 2nd Sireet Nozth Yancouver 957-4488 j SJUSINESS i e- ‘ta NORTH VANCOUVER PHOTO STUDIO HAS NEW. OWNER One of the first things you will notice about the North Vancouver Sooter’s Studio © when you walk in, is the totally new image it displays. “I wanted to add a classy ap- - pearance to show off my merchandise and photographs,’ said Jeff Andrews, the new owner of Sooier’s on Lonsdale. And photographs you'll see — nothing smaller than. 16x20 — adom the walls. There are wedding photos, portraits of children and young - adults, family portraits, and some wonderful scenic shots of Vancouver. “T think I'm becoming more recognized as a photographer rather than‘a photofinishér” says Andrews, who has managed the store for three years. Which is not to belittle the fact that the Lonsdale store is number one in passport sales, and among the highest .” in photofinishing sates of the B.C. stores in the company’s 320 outlets across Canada. “We offer service to our customers, with better quality chan our competitors.” Born in Saskatchewan, Andrews took interest in photography at age 16, and hung | around with Klaus Bohn, little known then bur now one of Canada’s foremost names in photography. After working as a news photographer with a local newspaper, he then studied photography in Edmonton. Upon completing his studies, Jeff apprenticed under the guidance of David Hoilingshead M.P.A. “That's where I really learned the trade: I must have photographed at least 120 weddings in the two years I was there.’ As a member of the Professional Photographers of Canada, he was accredited in two‘ categories —- Portrait and Wedding. Jeffs track record, along with the Sooter's 30-year tradition of serving Canadians with Portrait and Wedding Photography, Passport Photos, Photofinishing Services, and a wide range of frames and merchandise, will combine to make Sooter’s on Lonsdale a very successful business for years to come. Visit their newly renovated location across from London Drugs and say hi to Jeff and the staff. 987-3955 rir ,. 2035 LONSDALE ai Sooter'S NorrH VANCOUVER