The Dividend Tax Rate in Canada: What You Need to Know Now
If you live in Canada and are an investor, you can benefit from the dividend tax rate. Why is this exactly? A dividend stock in Canada will share the tax burden with the company you’re investing in. If the company performs well financially because of the money you invested, you get to keep the stock and any future dividend returns. Not only that but you pay less tax on dividend income.
Best Bank for Students in Canada
When you’re going through college, you want to save every penny you can. Having a bank account that doesn’t have huge costs attached to it is one of the perks of being a student. The bank knows that someday, you’ll be potentially looking for loans because you’re making good money. So low-cost bank accounts for students are to their benefit. Here are competitive offers that might make your life easier while you’re focused on your studies.
What is Merchant Cash Stacking & Why Should You Avoid It?
It may be tempting, but merchant cash advance stacking can put your small business at risk. In this post, we’ll explore what MCA stacking is, why MCA stacking is dangerous, albeit tempting, and alternative funding options to stacking merchant cash advances.
Let’s get started.
How Small Businesses Can Combat Staffing Shortages with Merchant Cash Advance Funding
Merchant cash advances offer small businesses a quick and simple way to leverage working capital. Because MCAs are repaid from a portion of your daily or weekly sales, hiring employees to help grow your business can allow you to repay your funding faster than other small business loans like Canada Small Business Financing Program loans.
How Law Firms Can Use Merchant Cash Advances to Fuel Growth
There are no restrictions on how merchant cash advance funding can be used, so law firms can use MCAs however they see fit. In this post, we’ll explore 7 ways law firms can use merchant cash advance funding to fuel their growth.
Prime Rates Canada and Their History
It’s expected that the Bank of Canada’s target overnight rate will reach at least 2.00% by the end of 2022. As a result, Canadian bank prime rates will likely be at least 4.20% by the end of the year. Looking back at the decades before now, there have certainly been some higher interest rates based on economic problems. History shows us that things are ever changing and what we’re experiencing now with Prime rates isn’t permanent. Learn more!
What is the average business loan amount?
Business loan amounts depend on the type of business you’re in, but there are averages that we see business owners seek and we share them in this blog post, plus give you connections to top lenders in Canada to easily apply for a loan online yourself.
Comparing Short-term Business Loans vs. Long-term Loans
Today, we’ll talk about short-term loans vs long-term loans to help you choose the best option for your small business. Let’s get started.
How much can I borrow with a 750 credit score?
Determine what kind of loan you can get approved for with a 750 credit score and use our loan calculator to find out a possible monthly repayment amount.
US Investment Property Financing for Canadians
Better still, so far as the US government is concerned, there are no restrictions for Canadian citizens wanting to purchase real estate in America. With that in mind, here’s what you should know about buying and financing an investment property in the US.
How to build credit for your kids in Canada
During college years, this is the best time to get your kids started on the process of building credit. Once they graduate, credit generally makes getting started easier. Even if they get a good job, it’s going to be at least one year before banks and landlords take them seriously as a responsible adult. There are some things you can do to help them start the process.
Private Mortgage Loans: What They Are and How They Work
Getting approved for a conventional mortgage isn’t always easy—especially if you have poor credit or lack confirmable income. Fortunately, private mortgage loans can fill the gap when you don’t meet the criteria of conventional lenders.
Is There a Minimum Credit Score for Renting an Apartment in Canada in 2022?
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.
Should You Use Your Home Equity for a Loan or Line of Credit
One of the ways you can take advantage of your current status is by using your home equity as collateral. It’s important to consider what your home equity position is. Have you been paying off your mortgage for a long time and have a lot of equity? Your equity builds up every year in your property and as you pay off the loan, you’re also increasing that equity.
What is a Good Credit Score in Canada?
A good credit score can go a long way in Canada when it comes to getting approved for a credit card, line of credit, or loan. So if you’re planning to borrow funds or apply for any type of credit, you should know what a good credit score looks like.
How To Get a Business Loan with No Collateral
Business loans without collateral are often referred to as “unsecured financing”, but this term isn’t technically accurate. Most business loans without collateral are secured by some kind of asset. Keep reading to learn more about these options, as well as what funding options are available to businesses with no collateral. But first, let’s take a closer look at what “collateral” actually means.
Can I Sell My House When I Have a Home Equity Loan?
If you have a home equity loan or line of credit like many Canadian homeowners, you may be wondering whether you can still sell your house. The short answer to that question is: yes, you can. The bigger question is: should you?
How to Use a Home Equity Loan for an Investment Property
There are varying reasons that a homeowner will choose to take out a home equity loan. It may be to purchase another property or it could be used for improvements. Another loan type is a HELOC, which is a line of credit secured by your home. You can withdraw funds whenever you need them so it offers a bit more freedom than a home. We’ll give you more insight on how to use your home equity loan to buy an investment property.
Foreign Exchange Fees in Canada
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.
Mortgage vs. HELOC: When Each One is Best
Are you trying to decide whether a mortgage or HELOC is best for your property? Here are some things to consider.
Factor Rate vs. Interest Rate: Understanding Small Business Loan Rates and Fees
There are two common types of rate structures used in small business lending: interest rates and factor rates. If you’re seeking funding for your business, it’s integral that you understand the cost of your loan or advance before you sign a contract—after all, you have to know what you’re agreeing to in order to make the right choice for yourself and your business.
Canada Savings Bonds Explained
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.
Personal Loan Rates to Expect in Canada 2022
With many types of personal loans and lenders, you can choose which ones work the best for you based on the specifics they’re offering. Consider how much you need to borrow, what the lenders are offering, and whether you qualify for the loans through the lenders depending on their requirements. Learn more about the rates to expect for these personal loans in Canada.
A Mortgage Gift Letter: When Do You Need One?
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.
Onlia Saves Ontarians Time and Money With Self-service Insurance Options
One insurance provider is following the self-service trend, providing Ontario residents with an opportunity to save on home and car insurance by cutting out the broker and doing it themselves. Founded in Toronto in 2018, Onlia provides a more affordable and more flexible insurance option for Canadians who want to avoid the added hassle and expense of dealing with a broker.