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Posted 1 Comment on It’s Financial Literacy Month Finance

It’s Financial Literacy Month

We’re celebrating Financial Literacy Month!

Join Senior Economist, Ted Tsiakopoulos and Mortgage Broker, Steve Garganis Thursday, Nov 12, 2020, at 1:00 PM Eastern Time for a chat about budgets, savings, debt, and more.

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Register Now: https://buff.ly/3lhmUl3

Hot Topics:

  • Interest Rates, Savings, Debt and Budgeting trends
  • Good debt vs bad debt: How debt affects the economy, housing prices and financial stability
  • Bankruptcy vs Consumer Proposal.
  • Bank of Canada interest rate policy now till 2023 – Risks??
  • Why the second line of defence (macroprudential policies) is necessary despite the recent rise in savings
  • Where does the problem lie? Disaggregating debt to asset ratio by age and income
  • Trends in financial literacy
  • Disruptions coming post-COVID & importance of financial literacy & skills
Canada Mortgage Bonds - What has Changed
Posted 1 Comment on What’s happening with Canada Mortgage Bonds? Bank News

What’s happening with Canada Mortgage Bonds?

Canada Mortgage Bonds - What has Changed

Did you hear the news?   Or did you miss it? Last week the Bank of Canada announced they would stop buying Canada Mortgage Bonds.  But it seems like nobody is talking about this. 

Why should you be paying attention to this?

Continue reading “What’s happening with Canada Mortgage Bonds?”
mortgage brokers the travel agentsof finance
Posted Mortgage News

What’s a Travel agent got to do with a mortgage?

mortgage brokers the travel agentsof finance

Some years ago, I did a study on the benefits and disadvantages of online shopping.  Sure, you can order food from your favourite restaurant, buy a new set of earbuds, book a hotel or flight…  but can you get a mortgage online without speaking with your banker or mortgage broker?

Continue reading “What’s a Travel agent got to do with a mortgage?”

Its all about cash flow
Posted 2 Comments on It’s all about cash flow. Money saving tips

It’s all about cash flow.

Its all about cash flow

Positive Cash flow is when you have more money coming in than goes out each month. Simple to understand but for many of us, this just isn’t happening right now.  

Continue reading “It’s all about cash flow.”
Help for small and medium sized business owners
Posted Mortgage News

Help for small and medium sized business owners

Help for small and medium sized business owners

The Business Development Bank of Canada (BDC) is devoted exclusively to entrepreneurs.

Here is a quick outline of some BDC Financing Options

Online Financing:

  • Been in business for more than 2 years (at least 24 months of sales)
  • Looking for a loan of $100,000 or less
  • They can fill in the application using the link below.  If they don’t have a rep, leave it blank 

https://www.bdc.ca/en/financing/pages/default.aspx

If you require more than $100,000, there is another program being offered by BDC which the details have yet to come out. Rumor has it will be based on completion of (a) statement of personal affairs form by each shareholder (b) application for financing and (c) last 2 years of financials prepared by a CPA

Support for entrepreneurs impacted by the coronavirus COVID-19

Effective March 18, 2020, new relief measures for qualified businesses include:

  • Working capital loans of up to $2 million with flexible repayment terms such as principal postponements for qualifying businesses;
  • Postponement of payments for up to 6 months, free of charge, for existing BDC clients with total BDC loan commitment of $1 million or less;
  • Reduced rates on new eligible loans;
  • Additional details regarding Business Credit Availability Program (BCAP) measures, including industry specific support, to be announced in the coming days.

View BDC.ca special support initiative to learn more.

As always, I welcome your comments, calls and questions.

Steve Garganis 416 224 0114 steve@mortgagenow.ca

Your best interest is my only interest.