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Understanding Bank Drafts: A Secure Way to Transfer Funds A draft in a bank is a type of payment instrument, kind of like a check, but a bit more secure. It’s also called a bank draft or demand draft. Basically, it’s a written order from one bank telling another bank to pay a specific amount […]
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Personal Finance
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A Simple Guide to How It Works, When to Use It, and What to Watch Out For Wondering how much line of credit you can get? Well, you’re definitely not the only one. But how much you qualify for isn’t the same for everyone; it depends on a mix of things like your income, credit […]
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Personal Finance
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How It Works, When to Use It, and What to Watch Out For When it comes to borrowing money, a line of credit can be one of the most flexible options out there, but it’s also one of the most misunderstood. But what exactly is it? How is it different from a loan or a […]
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Exploring Your Financing Options as an International Student in Canada Studying in Canada as an international student is an exciting opportunity, but let’s face it, it can also be expensive. Between tuition fees, housing, textbooks, and day-to-day living costs, it’s no surprise that many students find themselves looking for financial help. That’s where student loans […]
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Personal Finance
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Exploring Fast Loan Options Across Canada Sometimes life throws you a curveball, such as a surprise bill, urgent car repair, or unexpected business expense, and you need cash fast. That’s where instant loan options come in handy. Fast loans are very accessible in Canada, but not all fast loans are created equal. Some come with […]
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Personal Finance
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How Your Credit Score Changes Over Time: A Look at Averages by Age Group Credit scores tend to change as people move through different life stages, and your age can play a big role in how your score evolves. On average, younger adults tend to have lower scores simply because they haven’t had as much […]
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Credit Scores
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Understanding What a 700 Credit Score Means for Your Financial Health and Borrowing Power “Is 700 a good credit score?” Well, your credit score plays a big role in everything from getting approved for a personal loan to locking in a lower interest rate. So, where does a 700 score land you? The short answer: […]
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Credit Scores
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Understanding What the Numbers Really Mean, and How They Impact Your Financial Opportunities Ever wonder what counts as a “good” credit score, especially when it comes to Equifax credit scores? Well, Equifax, one of the major credit bureaus, uses a scoring system that typically ranges from 300 to 850. But where you land on that […]
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Credit Scores
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Understanding Your Equifax Credit Score and How It Affects Your Financial Health If you’ve ever applied for a personal loan, credit card, or even tried renting an apartment, you’ve probably heard about credit scores, and one name that often comes up is Equifax. But what exactly is an Equifax credit score, and why does it […]
Amy Orr
Credit Scores
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A Look at Canada’s Top Banks Offering Competitive Mortgage Rates and Reliable Home Financing Finding the right mortgage lender is one of the biggest steps in the home-buying journey, and in Canada, you’ve got plenty of solid options. The country’s top banks offer a mix of competitive rates, flexible terms, and helpful tools that can […]
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Buying a Home
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What Canadian Car Buyers Can Expect to Pay in Interest And How to Get the Best Rate Thinking about buying a car and wondering what kind of interest rate you might get on a loan in Canada? You’re definitely not alone. It’s important to understand that your car loan interest rates can help you make […]
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How Inventory-Based Financing Helps Canadian Businesses Access Capital Without Sacrificing Equity If you’ve been exploring business financing options lately, you’ve likely come across the term “IBV loan” and wondered, “What exactly is that?” Don’t worry, you’re not alone. IBV stands for Inventory-Based Financing, and it’s a type of loan that’s designed for small businesses and […]
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How To Get The Funds You Need Without Leaving Home Applying for a loan online has never been easier, but it can still feel a bit overwhelming if you’re not sure where to start. We live in a technology-driven world where applying for loans online may be easier than in person. The best part of […]
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Understanding the Numbers That Identify Your Financial Institution Have you ever been asked for your bank code and found yourself unsure what that actually means? Don’t worry, you’re not alone. Bank codes can seem like just another string of confusing numbers, but they play an important role in terms of how money moves between accounts […]
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A Step-by-Step Guide to Updating Your Social Insurance Number Without Leaving Home If you’ve recently changed your name, your citizenship status, or noticed an error on your Social Insurance Number (SIN) record, you might be wondering how to get it all sorted, without having to stand in a long lineup at Service Canada. The good […]
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Exploring How Technology Is Redefining the Way We Bank Every Day Have you ever wondered what makes a bank “digital”? It’s a term that gets thrown around a lot, but what does it actually mean for you as a customer? In a world where we can order dinner, hail a ride, and stream movies with […]
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The Top Digital Banks That Offer No-Fee Accounts, Easy Mobile Access, And Serious Savings Banking in Canada has come a long way, and online banks are leading the charge. With no physical branches to maintain, digital-first institutions pass the savings on to you, meaning lower fees, better interest rates, and a smoother banking experience overall. […]
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Compare the top chequing accounts in Canada to find the perfect fit for your everyday banking needs If you want to manage your chequing account much more effectively, having the right chequing account can make all the difference. But with so many banks and credit unions offering similar services, it can be hard to know […]
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Rebuild and Strengthen Your Credit with These Top Canadian Credit Builder Loan Options If your credit score needs a boost, credit builder loans can be a great way to turn things around, and luckily, Canada has some solid options to choose from. These loans are designed specifically to help you build or rebuild credit, even […]
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Discover the Top-Rated Lender Canadians Trust for Fast, Flexible, and Reliable Loans It is imperative to choose the right loan company when looking to borrow money. The right company can make all the difference, no matter what you need the funds for. With that being said, lenders like Fairstone, and Spring Financial are leading the […]
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Looking for a hassle-free loan? These Canadian banks offer some of the easiest approval processes—no stress, no hoops to jump through. If you’ve ever applied for a loan, you know the process can feel overwhelming. Between credit checks, paperwork, and waiting for an answer, it’s easy to feel stuck, especially if your credit isn’t perfect. […]
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Compare top-rated online lenders in Canada to find the best loan for your needs. Looking for a quick, reliable way to borrow money online in Canada? You’re in the right place. Online loans are a flexible and fast solution, no matter what you need the funds for. But with so many lenders out there, how […]
Amy Orr
Personal Finance
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Looking for a mortgage in Canada can feel like navigating a snowy back road with no GPS and a car that only kind of starts. The choices between big banks, credit unions, and private lenders are endless but unclear. That’s where mortgage brokers come in, helping you cut through the noise and find a path […]
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You’re finally ready to start a home renovation, consolidate your debts, or launch the side hustle of your dreams. Still, your bank account says otherwise. Whether a planned expense or a financial curveball, we’ve all been there, and that’s where money lenders in Canada can step in. This twist is that not all money lenders […]
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Personal Finance
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Whether opening your first checking account, shopping for a mortgage, or looking to grow your savings, choosing the right financial institution in Canada is an essential step toward reaching your money goals. But with dozens of options, ranging from the Big Six banks to local credit unions and digital disruptors, where do you start? This […]
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Personal Finance
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Your Month-by-Month Guide to Alberta’s Assured Income for the Severely Handicapped (AISH) Payments If you or someone you know relies on Alberta’s Assured Income for the Severely Handicapped (AISH) program, staying on top of payment dates is a great way to budget your monthly expenses. AISH provides financial and health-related assistance to eligible Albertans with […]
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Is A Minimum Wage Hike Expected In 2025? British Columbia’s minimum wage has been increasing steadily over the past few years, and many workers and business owners are wondering if another change is coming in 2025. With the cost of living continuing to rise, minimum wage adjustments are important in terms of fair pay for […]
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Everything You Need To Know About Manitoba’s Minimum Wage We are currently in a time of high inflation, which has proven that minimum wage is certainly not liveable. The good news? Manitoba is looking to increase the minimum wage to help combat the consequences of inflation much like other provinces. As of March 2025, Manitoba’s […]
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Personal Finance
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So far in 2025, Alberta’s minimum wage remains at $15.00 per hour, a rate in place since 2018. For students under 18, a lower wage of $13.00 per hour applies for the first 28 hours per week during the school term, with regular rates applying beyond that limit. While some provinces adjust their minimum wage […]
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It’s important to keep track of payment dates throughout the year, especially if you’re on ODSP, which stands for the Ontario Disability Support Program. Essentially, ODSP is financial assistance for those who cannot work because of their disability. This way, you can stay on top of your expenses without falling behind. In 2025, ODSP payments […]
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When you’re thinking about taking out a loan, it’s easy to focus on the big numbers, like how much you’re approved for, what the monthly payments will be, and how long it’ll take to pay it back. But before you commit to anything, there’s one number you need to get really clear on: your take-home pay. […]
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If you’ve ever checked your CIBC bank account or credit card statement and noticed a transaction labeled “Credit Memo,” you might have wondered what it means. Understanding financial terms can be difficult, so let’s dig into the details. What is a credit memo from CIBC? The short answer is that a credit memo is a refund, adjustment, or correction […]
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If you’ve ever checked your bank account and noticed a deposit labeled Canada RIT, you might have wondered what it is. The short answer? Canada RIT (Refund Income Tax) is a direct deposit from the Canada Revenue Agency (CRA), and it means you’re getting a tax refund. However, there’s more to it than just free money showing […]
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If you live or work in Canada, your Social Insurance Number (SIN) is one of the most important pieces of identification you have. It’s more than just a random set of digits; it’s the key to accessing government benefits, paying taxes, and even applying for loans. But what exactly is a SIN, and why does it matter […]
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Whether you’re switching to a better rewards program, reducing your credit cards, or just closing an account you no longer need, canceling a CIBC credit card is a straightforward process. However, there are a few things you should know before you do it. Canceling a credit card the right way can help protect your credit score and […]
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Introduction to Carbon Tax Rebate As climate change continues to be one of the most pressing issues confronting our planet, various countries have implemented strategies to mitigate its effects. In Canada, the government has adopted the carbon tax system as a primary measure to reduce greenhouse gas emissions. Central to this system is the climate […]
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Navigating the Path to a $3,000 Loan in Canada Whether you need a quick financial boost for an emergency, home repairs, or unexpected expenses, securing a $3,000 loan in Canada can be a straightforward process when you know where to look. Understanding your options, from traditional banks to alternative lenders, can make the process smoother […]
Amy Orr
Personal Finance
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The Frustration of Delayed E-Transfers In today’s digital age, e-transfers have become a go-to method for quick and seamless money transactions. However, there are instances when your transfer seems to take an eternity. If you’ve ever asked yourself, “Why is my e-transfer taking so long?” you are not alone. While e-transfers are typically processed within […]
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In recent years, buy now, pay later services like Afterpay have gained immense popularity. These services allow consumers to split their purchases into manageable installment payments. However, potential users often find themselves asking an important question: Does Afterpay affect credit score? This blog post aims to shed light on this query, alongside important considerations that […]
Amy Orr
Credit Scores
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A Guide To Ontario Works And Payment Dates For The Year 2025 If you are one of the thousands of Ontarians relying on Ontario Works to support yourself, staying updated on payment dates is crucial for planning your monthly expenses. Ontario Works provides essential assistance for individuals and families who are struggling with financial challenges, […]
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How Credit Scores Vary Across Provinces and What They Mean Credit scores are an essential part of personal finance, and can influence everything from loan approvals to your interest rates. In Canada, your credit score is 3 digits, which helps lenders see your financial health and responsibility. But what does the average credit score look […]
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Credit Scores
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A Brief Guide To How Many Dimes You Can Get Into A Single Roll If you’ve ever wondered about the specifics of rolling dimes, you’re not alone. Dimes are the smallest of all the Canadian coins and they’re worth $0.10. Counting them is very simple, especially when they are rolled. For dimes, each roll contains […]
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Your Complete Guide to Canada PRO Deposit Dates for 2025 If you’re here, you may be wondering what Canada PRO payments are. Well, they are payments issued for programs such as the Ontario Trillium Benefit (OTB) and the Alberta Child and Family Benefit (ACFB). These deposits are there to provide essential financial support to help […]
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Everything You Need To Know About Student Loan Forgiveness In Canada Student loan forgiveness is a fantastic tool that is meant to relieve the struggles of students and provide a chance to reset their financial future. A lot of Canada’s loan forgiveness programs are targeted at specific professions, such as healthcare workers, teachers, and those […]
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Understanding the Key Differences Between Bank Drafts and Certified Cheques Believe it or not, there is a difference between bank drafts and certified cheques. They’re both popular options, often used for large transactions or when a guarantee of funds is required. While they serve similar purposes, the two have some key differences. If you need […]
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A Brief Guide To How Many Nickels You Can Get Into A Single Roll Have you ever wondered how many nickels are in a roll? It might seem like such a small detail, but it’s surprisingly handy to know; especially if you’re organizing loose change, prepping for a trip to the bank, or managing your […]
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A Break Down Of Your Credit Score And What It Means In Canada Your credit score range in Canada is critical to your financial life, yet many people don’t fully understand what it represents. Essentially, a credit score is a three-digit number, typically ranging from 300 to 900, that reflects your creditworthiness. Lenders, landlords, and […]
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Credit Scores
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A Simple Guide To Rolling Your Quarters If you’ve ever wondered how many quarters are in a roll, you’re not alone. When counting quarters, sorting them into rolls is essential for quicker counting and easy storage. In Canada, a roll of quarters contains 40 coins, usually totaling $10 in value. Rolls are a convenient way […]
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A Guide To Canada’s Working Days, Per Province Canada is a country with a diverse range of holidays and the amount of working days in a year is directly reflected by the province you live in. There are a total of 365 days each year but most Canadians only work around 250 of them on […]
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Discover the accessibility of installment loans for individuals with bad credit. AimFinance provides quick access to funds, often within one business day. As an alternative for those ineligible for personal loans, installment loans offer manageable payments and swift approvals.
Amy Orr
Personal Finance
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Breaking a mortgage involves altering the terms of your mortgage contract or not fulfilling the entire term. Common reasons for doing so include falling interest rates, changing financial circumstances, or the need to sell your home. Mortgages can be open or closed, with open mortgages allowing penalty-free contract changes but usually having higher rates. Closed mortgages involve fees for breaking the contract, and it's essential to evaluate potential savings from lower interest rates against associated costs, which differ based on whether you stick with your current lender or switch to a new one.
Amy Orr
Buying a Home
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When deciding between fixed or variable mortgages upon renewal, Canadians facing this decision should consider two key factors: the outlook for interest rates and their own risk tolerance. Historically, variable rates were favorable during low-rate periods, but with current economic uncertainties, locking in a fixed rate could provide stability and predictability in monthly payments. However, the path of short-term interest rates suggests that variable rates may see a decline in the coming months, making them an attractive choice for those who can tolerate some uncertainty. Ultimately, the decision should be based on individual financial circumstances and the willingness to embrace potential rate fluctuations.
Amy Orr
Buying a Home
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Most landlords and rental companies check the credit scores of potential tenants as part of their application process. But is there a minimum credit score requirement for renting an apartment in Canada? Here’s what you need to know about credit scores and renting in 2022.
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Credit Scores
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If you are ready to learn more about these exchange fees, then read on to find out even more. You can benefit from knowing these fees, but also be able to stay away from anywhere that the fees might be higher than you’d like to play.
Amy Orr
Personal Finance
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Savings bonds are a popular choice to go with for those who want to gift someone with a financial gain that grows with time. For decades this used to be one of the easiest ways to grow some of your cash and cash out later when it matures. However, since 2017; savings bonds have really died down. Find out even more about these Canada Savings Bonds, what they are, why they are now gone, and how you might be able to cash yours in if you’re still holding onto them.
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Personal Finance
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One way to keep the financing low in Canada is to use a mortgage gift letter to buy a home. To make full use of the letter, you need to follow some basic rules to proceed with financing.
Amy Orr
Buying a Home
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Wealthsimple provides customers with intelligent, easy ways to invest, without charging high fees or requiring account minimums like most investment management companies do. Cutting edge technologies and diversified portfolios facilitate the best possible returns on investment. Everything about Wealthsimple is clear and straightforward; a core value of the business is gaining trust through transparency.
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Company Reviews
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Opened in 1999, Questrade is still one of Canada’s fastest growing brokerages with the reputation for being the best discount brokerage in the country. With Questrade you can utilize a wide array of different accounts such as RRSPs, TFSAs, RESPs or Cash accounts.
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Every business owner should have business insurance. Zensurance is an online insurance brokerage determined to help small business owners find the right insurance for them, including general liability insurance, errors and omissions insurance and commercial property insurance.
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Company Reviews
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If you need to transfer money quickly, MoneyGram may just be the right choice for you. As a global leader in international person-to-person and digital money transfers, MoneyGram is trusted by millions of people all over the world. Their reputable service is available in two hundred countries around the globe.
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Company Reviews
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Tangerine is an online bank that has been serving Canadians since 1997, first as ING Direct and then switching to Tangerine in 2013. As with any Canadian bank, they offer a wide range of different financial services, the only difference being that they operate completely online and do not have any brick and mortar stores.
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Company Reviews
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Requiring a loan is a commonplace occurrence among most Canadians at some point in our lives. Money Mart, which was founded in Canada in 1982 offers a wide variety of different services to help their customers meet their short-term financial obligations. They are a reputable company with over 700 locations that can be found all across North America and are registered with the Better Business Bureau.
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Personal Finance
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Merchant Growth is a rapidly growing Canadian financing company that caters specifically to small businesses across the country. They provide loans and financing to a wide variety of different industries, from manufacturing to e-commerce and everything in between. With multiple different financing plans to suit each individual business need, Merchant Growth can help your business with renovations, staffing, inventory, technology and anything else that you need to help your business thrive.
Amy Orr
Business
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The date to circle on your calendar is April 30th, 2020. For most Canadians, that’s the deadline to file your taxes for the 2019 fiscal year. In this post, we’ll be breaking down all the basics you need to know like what the deadlines are for personal, self-employment and corporate tax filings, what the penalties are for not filing your taxes on time and more!
Amy Orr
Personal Finance
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Canadians are warming up to alternative lenders, but remain skeptical. When they’re in need of a loan, a majority of Canadians now look to online lenders as a viable alternative to traditional financial institutions, according to the State of Alternative Lending in Canada 2018 study conducted by online comparison service Smarter Loans.
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Industry News
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Buying a home is a major expense; for most consumers it is the largest financial investment they will make in a lifetime. People that paid for their homes with cash make up the minority of homeowners. Simply put, having ready money to purchase a home is an ideal situation but is out of reach for most people. The path to owning a home more commonly involves qualifying for a mortgage.
Amy Orr
Buying a Home
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After being denied six business loans, Rhonda realized that because her business was new, most banks would not offer her enough financing to start her new venture. However, she had heard about an alternative to traditional lending known as a merchant cash advance, or MCA. Encouraged, she took off in the direction of getting funding via an MCA. And she is not alone; millions of start-ups and established businesses take advantage of the benefits of this type of financing. But before they do, they must understand the ins and outs of merchant cash advances.
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Business
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A broad spectrum of customers either finance or lease equipment for business or personal use. And the list of the variety of equipment available is seemingly endless. The determining factors of whether to lease or finance equipment include a) who is the customer b) what the equipment is needed for and c) how long or how often it will be used.
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Business
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Anyone who aspires to open a restaurant or bar is in good company for sure. Worldwide, there are approximately 15 million thriving restaurants that rake in hundreds of billions of dollars annually. By some investment company accounts, bars and taverns in the U.S. alone grabbed $24 billion in 2015. This article points entrepreneurs in the right direction toward their own success.
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Business
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Boat loans provide the funds needed to purchase a new or used boat for water activities like fishing, water skiing, sailing, and sometimes, living.
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Vehicles
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Veteran home loans come with distinct advantages for men and women who serve, or have served, in the military. These loans are also available for reservists, active duty service members, and National Guard members.
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Buying a Home
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Learn all you need to know about getting equipment financing in Canada. Pros and cons, how the process works and where to get fast equipment financing.
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Business
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Get the Best Use Out of Business Credit Cards Most business owners have run into sudden unexpected expenses and could use business credit cards to tide them over. Equipment malfunctions, an abrupt rise orders to be filled, or any number of crises can send daily operations into a tailspin. Fortunately, business credit cards and other […]
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Business
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Peer to peer (or P2P) lending in Canada is the financial fit for borrowers in need of cash for any number of reasons. Read all about P2P lending at Smarter Loans.
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Personal Finance
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