How to Improve Your Credit Score in Canada
The reality of living in Canada is that you need good credit. Major purchases like a car or a house usually mean having to take out a loan or a mortgage. Renters normally have to provide their credit reports before a landlord will approve them as tenants. Even some employers who require a credit check…
Balbir Saini
What is a Lease to Own Financing?
Lease to own financing is a great alternative for traditional loans where credit analysis for risk mitigation is essential. This type of financing is budget-friendly and offers many benefits to those with medium to short term goals. “You have the option to buy without the obligation to buy” Benefits of Lease to Own Program: The…
Canada Small Business Financing Program (CSBFP)
The Canada Small Business Financing Program (CSBFP) is a part of the Canada Small Business Financing Act created to improve access to Business Loans at competitive Interest Rates for Entrepreneurs to establish a start-up or improve their small businesses. “Business Loans at Competitive Interest Rates” Who is eligible? Businesses that qualify for Canada Small Business Finances…
Canada Emergency Business Account (CEBA)
Canada Emergency Business Account is a $25 Billion Relief Fund created by Government of Canada to provide ‘Access to Credit’ to the struggling Businesses and Not-for-Profits in order to support them with cash flow as a part of Canada’s Covid-19 Economic Relief Plan. Canada Emergency Business Account provides an Interest-Free Loan of $40,000 to qualifying…
Steps to your Credit Repair
STEPS TO YOUR CREDIT REPAIR Whether you have been Bankrupt, in a Credit Proposal, Under Collection, have Unpaid Judgments, or simply no credit at all, you can still buy a house. Get someone to buy the house for you. Simple easy and bam you are getting a house. But do not forget to tell them…
Kim Kaur
The Five C’s of Credit
When lenders are evaluating a loan request, whether it be a mortgage or a car loan the principles of the five C’s of credit are applied. There are varying formulas that are utilized for each of the C’s but nonetheless each category’s weight contributes to the final decision. A method used by lenders to determine…
Good profits but no money in Bank? Why?
Small business owners wonder they work hard, make good profit but there is no money in the bank and have to struggle to meet day to day expenses. The answer is they are short of working capital. Working capital is the money required to fund accounts receivables, inventory and operating expenses minus credit from vendors….
CRA to expand EFT audits in 2017, PwC warns
The next two years will see an expansion of the Canada Revenue Agency’s efforts to review international funds transfers (EFTs), which means many taxpayers can expect to see an “EFT Letter” next year, according to a recent PricewaterhouseCoopers LLP (PwC) Tax Insights brief. The CRA initiative builds on efforts by the agency that since the…
NIPAN BANSAL
Get your Credit Report: Equifax
Check your credit report and score regularly. Equifax reports are widely accepted for mortgage and other lending requirements. Equifax has many consumer products. But if you want to quickly check your credit and score, this one is handy. Make an online account Equifax or call them to order one. Make sure to remember your user…
How to keep your credit healthy
If you have applied for credit, you should have a credit file at credit bureaus. There are two main credit bureaus in Canada – Equifax and Transunion of Canada. Your credit bureau file contains your credit history going back 6 years, even longer if you have ever declared bankruptcy. Here are 5 ways to keep…