By Omer Gulzar

The Tsunami of subprime mortgages that resulted in the collapse of the American banking system is prevalent and the aftershocks are still being felt throughout the world.  With international markets in turmoil, there has been an increasing tendency for banking regulation to further tighten. Every so often we see government leaders assuring their public to forward looking, better economic times but have yet to see any concrete results.

What this translates to for you and I is higher interest rates, with little chance of them declining. We now need alternatives to fuel important processes such as innovation, small business growth and creation of new start-ups. To do this without breaking the bank I will go over three important ways you can get our hands on the newly printed $100 polymer bills, which started circulating yesterday.

• Peer to Peer networks

Allows lenders and borrowers to see common ground and help each other out. Creates a network where lenders offer a for profit service giving an opportunity to borrowers to get loans. Borrowers get rates unmatchable by heavily regulated banks.  Once such service is offered by “Community Lend” a Toronto based company that allows investors to place bids on potential investments that have been pre-verified to be safe. Michael Garrity, President, Chief Executive Officer and Co-Founder of the organization will be a featured speaker at this Wednesday’s Breakfast with the Experts session Creative Financing and Angels (more details: http://ow.ly/7Wtxv )

• Government backed loans

Most government loans allow flexibility and spur potential benefit for both parties. Depending on your circumstance some government loans have the possibility to morph into grants or awards, which means it’s your money to keep!

• Asset backed lenders

Although old, are increasing in popularity due to constantly hiking interest rates. Many lenders may offer money by buying your account receivables over a margin. For example, 70 to 85% of whatever the consignment is worth. Alternatively, they can also provide you with loans against such collateral.

Keeping in mind the importance of securing finance, make sure you avail every possible resource because at the end of the day every penny counts!

Omer is currently at the University of Toronto finishing his undergraduate degree in Biotechnology. At the RIC he is undertaking an internship as a Bio-business intern, where he brings together his science based analytical skills and merges them with business development.

The RIC blog is designed as a showcase for entrepreneurs and innovation. Our guest bloggers provide a wealth of information based on their personal experiences. Visit Altitude Accelerator for more information on how RIC can accelerate your ideas to market.