Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
Latest News
Scotiabank reports higher Q3 earnings, sets aside less money for bad loans + MORE Aug 30th
Scotiabank is the latest of the big banks to report higher profits in the third quarter, thanks to strong returns from its domestic and international banking operations..... More »
The best 5-year fixed mortgage rates in Canada Jun 8th
Mortgages
The best 5-year fixed mortgage rates in Canada
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Making sense of the markets this week: August 3 Aug 1st
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
Gold outshines itself
Gold stole the headlines this week. That can happen when an infamous asset takes out its previous all-time highs.
Last Sunday, gold made another push a.... More »
Has ‘fixing’ Canada’s mortgage market made it riskier? Oct 28th
THE CANADIAN PRESS IMAGES/Sean Kilpatrick
Adam Farber has a practical, if slightly gory, view of his place in Canada’s mortgage market. “You come to me with an open wound,” he says. “You’ve been beaten up. I’m your last option.” Farber, the vice-president of Corwin Mortgage Capital in .... More »
Visa vs. Mastercard: What are the differences (and do they really matter)? Jun 19th
A frequent question we hear at MoneySense is: Which is better—Visa or Mastercard? When looking for a credit card, there are all sorts of things to consider. What is the interest rate? Can you collect rewards points or get cash back for making purchases? Is there a bonus for signing up, and what ar.... More »
Business New Year’s Resolutions: Unlock bold new sources of capital
– canadianbusiness.com
(Illustration by Katie Carey)This article is part of our series on New Year’s Resolutions for Small Business. Read them all here.
Securing capital from traditional sources such as banks can be tricky for small businesses, especially if a company doesn’t have a long earnings history or sufficient assets to collateralize, says Jeffrey Tannenbaum, a partner at Ernst and Young. Other times, the terms set out by a traditional lender might not be agreeable, or a company could require a little more guidance than a bank would provide. That’s when small businesses should turn to alternative sources of capital.
How Canadian startups are changing the way we bank
Angel investors can offer advice and industry-specific expertise along with dollars. “The downside to that is often you are giving up some control of your business, because angel investors do play an active role…and they do often take an equity position,” says Tannenbaum. Similarly, venture capital firms invest in startups or companies looking to grow…
