Category: Financial Literacy

Fintech Focus: Small business success with David Souaid

In recent weeks, our CRO David Souaid has been on a tour of podcast interviews, sharing invaluable insights in the world of small business lending, entrepreneurship, the future of fintech, and more. Whether you’re a seasoned entrepreneur or just starting out, these podcasts are packed with practical tips and inspiration to help you reach your…
Small Business owner looking at her line of credit options.

Is a Business Line of Credit right for you?

Unlocking the potential of a Business Line of Credit for your small business goes beyond understanding its basic definition. While many business owners are familiar with the concept, they may not fully grasp the specific scenarios in which a Business Line of Credit can be beneficial. In this blog post, we’ll share the benefits a…
Small business owner looking at personal and business credit.

Understanding personal & business credit

When it comes to managing your finances, understanding the difference between personal and business credit can help you make informed decisions about your business and ensure that you are making the best use of your resources. Good personal and business credit scores are vital for any small business owner to access the financing they need.…
Young business owner thinks about the impact of a recession.

Recession-proof your small business

Is Canada currently in a recession? Although some small businesses have seen a pullback in sales, technically speaking, we aren’t in a recession just yet. And in most cases, we don’t know we’re in a recession until it’s over. A new study from RBC suggest that a recession is almost inevitable, and we could see…

Update: How rising rates impact your SMB

The current high interest rate environment is taking a toll on both consumers and small businesses alike. In March of 2020, borrowing rates in Canada were lowered to nearly zero and despite Covid restrictions, low-cost money starting flowing into SMBs. Fast forward two years later, inflation reached a 39-year high of 8.1% in June of 2022. To…
Accountant helps a small business owner to measure his financial health.

Assessing the financial health of your SMB

With talks of a recession on the horizon, is your small business in a position to succeed regardless of what the future has in store? Understanding and monitoring the current state of your business’s financial health is key to navigating an economic downturn. But when it comes to assessing your financial health, the influx of…
Canadian SMB owner getting ready for tax season.

Tax season 2022: A guide for Canadian SMB owners

Tax season is officially here. If you’re new to the Canadian small business environment, you may be unfamiliar with the tax laws that apply to small businesses and self-employed individuals. Just like employment income, income from your small business is subject to taxation. In Canada, small businesses and self-employed income can be defined in many…

SMB strategies to manage inflation

With ongoing supply chain issues and the Omicron variant taking our country by storm, a lot of uncertainty remains for 2022. One major uncertainty is inflation. Much of the current inflation is due to significant imbalances between supply and demand for goods and services. In 2021, we saw a surge in consumer demand and a…

What is collateral and do I really need it for a business loan?

Traditionally, collateral has been considered an important part of qualifying for a small business loan. In fact, it’s one of the Five Cs used by many traditional lenders to help them evaluate a potential borrower. The term collateral refers to “an item of value used to secure a loan”. Traditional lenders, like banks, typically look for secure…

Bookkeeping habits that can increase your cash flow

A solid bookkeeping system is an essential part of running a successful business. No matter how big or how small your business is, it’s critical that your books are updated, accurate, and readily available. Doing this provides you with crucial information that can help keep your business financially healthy. Implementing the following bookkeeping habits will help…

Understanding the cost of financing: Factor vs. interest rate

When considering your small business financing options, you’ll want to determine the associated costs of every alternative. Although this may seem straight forward, pricing is often presented differently depending on the company or the type of financing product you are applying for. This can make it tricky to understand how much you are actually paying…