Tags: amount

16 Jul 2009, Comments Off

CANADIAN ALTERNATIVE FINANCING

Author: admin

Setting up shop in Canada comes with its own set of obstacles and benefits. Statistics Canada reports that 75% of job creation is through small businesses. Getting a conventional loan is one of the biggest challenges. Canada’s major banks have big profits yet are not supportive of small businesses. Venture capital is scarce.

Working Ventures, sponsored by the Canadian Federation of Labor, is the first national, labor-sponsored investment fund in the world. Its goal is long-term capital appreciation for shareholders, providing risk capital (between $250,000 and $10 million) to high-growth and medium-sized Canadian businesses. All Canadians who invest in Working Fund receive tax credits.

Therefore, in Canada, alternative funding is easier to obtain. From customers and suppliers to corporate lenders and government programs, customer financing has minimal paperwork.

Human Resources Development Canada offers self-employment assistance to employment insurance recipients who want to start their own businesses. There are even Community Loan Associations in each province.

Canadian Alternative Investment Co-operative in Toronto, Ontario, was formed in the early 1980’s by a number of religious communities pooling resources to make investments towards positive social change. CAIC offers loans, mortgages, and equity investments for community-based projects.

BRIDGE LOANS

Bridge loans are loans that are generally very short term, easier to acquire and with quick approval times. Their main advantage is speed and the ability to quickly close, save property from foreclosure or other situations which generally come on short notice and require fast money. Bridge loans are extremely convenient and useful when you absolutely can’t wait for a standard loan. Other names for bridge loans include “interim financing,” “gap financing,” and “swing loans.”

“If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.”

—Paul Getty

As the terms “interim financing” and “gap financing” imply, bridge loans are also used to fill in the gaps during cash-flow shortages or to finance businesses or business operations in the interim between larger loans. They also come in handy between business startup financing and more permanent financing. Bridge loans are often used on short notice for real estate purposes. The range can stretch from two weeks to three years, and the amount of the loan and interest rates are only really limited by the customer’s credit. However, the amount of the loan generally won’t be as high as long-term loans would be, and interest rates generally run several percentage points higher.

Ilya Bodner
Small Business Owner

http://www.fastcompany.com/blog/ilya-bodner/true-business-credit-card/canadian-alternative-financing

reviewed by Moishe Alexander, CFC Canadian Funding Corp CEO

With proper design and clear specifications, it only remains to confirm that the window is installed properly in the field to make certain that the desired performance is achieved.
First, try to make sure that the windows on site are the ones that were specified. Check window labels (see Figure 4), invoices or shipment waybills for the model and manufacturer, and glazing options. Low-e coatings are impossible to verify just by looking at them, but there are ways to determine whether a window has a low-e coating (even if it is not possible to verify that it is the exact coating that was specified). A commercially available, handheld electronic device can be used to determine if a low-e coating exists and on which surface.
For a low-tech version of the same verification, use a flashlight, butane lighter or other source of light. With the light source held at the correct angle, a reflection of the light source from each surface will be visible. If there are no low-e coatings, the images will be similar, but if a low-e coating exists, the reflection of the light source off that surface will be different.
A low-e coating reduces the amount of energy transmitted in the long-wave part of the spectrum, so more of those wavelengths will be reflected back toward the viewed and the image will appear redder than the others. A black surface behind the window makes viewing easier.
Once the product has been verified as being what was intended, several field tests can verify the performance of the installed product. These include noise transmission, air leakage, ease of operation and water leakage.

Noise transmission

ASTM E966 is the field version of the STC lab test. A decibel meter and calibrated sound source are required. Several measurements are taken from the interior and the exterior, with the decibel reduction computed and converted to an STC rating as per the Standard. The specifications should indicate acceptable levels, recognizing that the fieldmeasured STC will not meet the same level of performance as the lab-rated specimen.
The tests should include the wall-window interface when performed in situ. This will not confirm the window rating, but will demonstrate the actual performance.

Air leakage

Portable air-leakage test units are commercially available. These units contain a vacuumcleaner motor and a calibrated airflow meter. The user must create a chamber to isolate the specimen of interest — this can be a window, or a bank of windows, or some other assembly. The test can isolate the window, or include the wall-window interface, depending on how the chamber is sealed to the wall.
Air leakage required to maintain a pressure difference is measured through the airflow meter. The result can be displayed as a flow (L/s or m3/hr) or a flow per unit area (L/s/m2 or m3/hr/m2, which is more common in door testing), or in the A440 units of m3/hr per metre of crack length. This can then be compared to the A rating, remembering that the field measurement will probably be higher than the lab-rated specimen.
If a small amount of smoke from a smoke pencil can be applied at the exterior, it may be possible to identify leaks, but this is usually easier to do with a blower-door test. The smoke pencil can be used to visualize the locations of leaks, which can then be addressed as needed.

Ease of operation

This parameter is a concern for elderly or physically challenged occupants. The window can be tested by applying a simple spring balance to the operating hardware.
The amount of force required to initiate motion, and to maintain motion, is measured, and must be less than the levels set in the A440 Standard. The Standard also defines where to take the measurements, depending on the window operator type. Ideally, let the occupants try the windows as a supplement to the test measurements.
Often they can give you useful feedback as to the required angle of applied force, as well as the amount of force necessary to open, close or lock the window. Note that ease of operation is usually a contrary requirement to air leakage and water leakage, both of which require the window to be tightly sealed (and therefore, usually difficult to operate). Proper selection of operating hardware can address these conflicts, but the best test occurs on the installed window.

Water leakage

Resistance to wind-driven rain is a particular concern in coastal locations, but water leakage is not welcome anywhere. Thus, installed windows should be properly evaluated in this regard.
The ASTM E1105 Standard is a field version of the E 547 test, used to determine the A440 B rating. Water is uniformly sprayed on the outside of the window at a specified rate and the window is subjected to an air-pressure difference to simulate wind pressures. The pressure is cycled in an attempt to simulate gust loading: A440 requires four cycles of five minutes with pressure “on” and one minute with pressure “off,” while the water spray is continuous throughout the test. The A440.1 User’s Guide gives test air pressures.
These pressures are maintained for the four “on” cycles, so air pressure should be continuously monitored. Before testing, the window should be preconditioned. As defined in E1105, this means opening, closing and locking the window five times, to ensure that the hardware is working and the seals are not over-tightened (which would affect the ease of operation).
The window should be observed carefully for signs of leakage. A clear chamber for testing, made of either polycarbonate or acrylic sheets, will facilitate the review. Note that there is a difference between the A440 pass-fail criteria and that of the E1105 procedure.

A440 defines water leakage as:

water penetrating the window assembly and wetting interior room surfaces;
water passing through the window into the wall below the sill;
OR
water trapped in the window assembly after the test pressure is released.

Any of these three occurrences constitutes a failure under A440. The E1105 procedure only considers the first of these to be a failure, and does not mention the other two modes of failure. It is important to define pass-fail criteria BEFORE the test begins, ideally in the project specifications.
Also, the last of these criteria is somewhat subjective: if the water is still in the assembly, but the weepholes and drainage are clearly working (so that the water will eventually drain out of the assembly), this could be considered a “Pass,” even though water in the assembly after the last oneminute “off ” cycle is, strictly speaking, considered a “Fail.”
Note that the E1105 test equipment must be calibrated, and the calibration is to be repeated every six months to make sure the water spray is constant. Reviewed by Guiseppe Strazzeri.

Windows can allow an excessive amount of outdoor noise into the building, as they are mostly made from lightweight, resilient materials (glass, metal, vinyl and so on) rather than massive, sound-absorbing materials. This is especially true of operable windows, as the weatherstripping may not be properly installed and allow air and thus sound to enter. Any sound vibrations that can be transmitted directly through the gaps and cracks in the window will result in noise inside the building.

Many factors can affect noise transmission through windows:

  • The installation of the window itself may not be adequate.
  • Gaskets, tapes, seals, etc. may wear over time, increasing the potential for noise transmission.
  • Warping of the window or building shrinkage severe enough that operable units do not close properly, creates gaps at sashes resulting in increased noise transmission.

A performance index has been developed to determine the sound transmission of all building components. The Sound Transmission Classification (STC), is defined in the ASTM E90 Standard as the average amount of noise stopped at 18 different frequency ranges, measured in decibels. STC ratings are a logarithmic scale similar to the earthquake Richter scale. Every 10 STC points reduces noise by 50 per cent, every 20 points reduces the noise by 75 per cent, 30 points reduces noise by 87.5 per cent and so on. Typical STC values for windows range from 18 to 50, with the higher value representing the larger reduction in sound transmission.

A jalousie, or louvred window, has an STC rating of approximately 18, which represents very little attenuation of sound.

A typical single-glazed window has an STC of 22–26, and voices from outside can clearly be heard. This can be improved somewhat with laminated glass, but a much bigger reduction can be achieved with double-glazed windows.

STC values for standard double-glazed windows range from 28 to 35, assuming a good air seal. Higher values tend to be achieved with thicker glass and larger pane spacing. Triple-glazed windows have better STC ratings than double-glazed windows, especially if the spacing between the three panes and the glass thicknesses are different.

As the STC is a logarithmic value, achieving ever-higher ratings becomes an increasingly expensive proposition.

Desirable values of STC ratings will depend on the ambient outdoor noise level as well as the intended use of the building. For example, it would be difficult to achieve an acceptable noise level in a house near the end of an airport runway: on the other hand, an STC rating above 50 would not be economically justified for buildings located near parks or cemeteries. Noisy conditions can also be improved through judicious use of drapes or (especially) exterior roller blinds.

For more information, refer to the CMHC report Noise Isolation Provided by Windows in Residential Projects, or the National Research Council publication Laboratory Measurements of the Sound Insulation of Building Façade Elements. Reviewed by Martin Lapedus.