Investment of Property through SMSF

Any sort of method related to enriching thriving wealth would necessitate insurance. It serves as a vital component and make sure that you and your loved ones will be taken care of in any misfortunate event such as sickness, accident or even death.

Available Insurance

  • In case of death, the life insurance will help your family to cope for your loss through financial means.
  • TPD insurance or Total Permanent Disability would help provide financial security for the family. This can be used during any sort of long term leave from work due to an illness or injury.
  • Trauma will be used to give you the money to help in covering for medical and other related costs that may happen if in case any trauma occurs.
  • Cover for income protection that can help with regular income if in case you will not have the capacity to work momentarily as caused by an injury or illness.

It is likely that you already heard or already have any of the above insurance mentioned. It is a good thing having the insurance above as it can cover the needs of your family should any unfortunate event happens.

Investment of Property through SMSF

Tax Deductibles

It is possible to have an insurance policy that can hold income protection with SMSF as the name. Yet with the marginal tax rates of a person that can be over 15% of the tax paid in a SMSF, it can be more tax effective to have the policy in individual’s name.

Insurance matters for property investments and debt

With SMSF having the capability to borrow and invest in residential and commercial property through a structure of installment warrant, there is an increasing need for insurance as well. This is because of the huge percentage of assets by SMSF linked to one investment like the lack of liquidity.

Lack of liquidity can be a major concern if a member turns out to be disabled, death or not able to work for quite some time.

Tips

Since there is a must for SMSF inside and outside, there is also a requirement to make sure that insurances can be held by the SMSF.

Trust Deed: SMSF trust deed should be assessed so as to see if it can hold the policies of life and TPD. This is on behalf of the members. Most SMSF trust deeds that can be obtained in the market permit holding of insurance policies. Learn more: http://ezinearticles.com/?SMSF-Buying-Property&id=6855670

Having an existing SMSF may necessitate you to review your deed. This is regardless if you have an existing insurance policy under the name of the fund.

Minutes and reserves of the trustee: If the insurance company pays the benefit to adhere life or TPD policy, they need to pay it to the account of the members within the SMSF.

For anyone who already has an SMSF or interested to have one, it matters to make an assessment of your insurance needs first. You also need the SMSF to get the proper insurance policies behalf of the members.…

Homeowner Tips: How to Save Your Money From Going Down the Drain

Everybody encounters a number of problems with their homes, such as pest problems, disruptive neighbors, frustrating flood, and structural and plumbing troubles. But among all those home issues, one of the biggest concerns of homeowners is flooding. This is especially true for those who live in areas that are prone to flooding.

Of course, we all have our own way to fixing things inside and outside our dwellings. However, there comes a time that what we thought could help us fix our problems makes things even worse, costing us more. And we know how painful that can be. So we’ve gathered here some tips to help you fix your flooding issues and avoid unnecessary money loss.

Homeowner Tips

  • Purchase a house that never floods. People say that a home is the single biggest investment that anyone can make in his or her life. This is the very reason why everyone is advised to properly inspect a house first before you decide to purchase it. Of course, in order to get the best out of your money, you have to ensure that the house is in good condition. And one of the first things to take into account when buying is if it’s prone to water problems. Remember, a house that is prone to flood can cause all sorts of house problems aside from water, which include rust, pest, mold, and unhealthy indoor air.
  • Keep your drains and water systems in order. Keep in mind that just because you have bought a house that is not prone to flooding doesn’t mean you can already relax and neglect your home. Owning a home is a responsibility, so don’t forget to conduct a regular checkup on major parts of your home to make sure that everything is working in order and to avoid unwanted problems, such as water and dust buildup. Some of the things that require regular maintenance and checkup are your drains, water systems, pipes, and garbage disposals. Ideally, your drains and other plumbing should be inspected at least once a year. Make sure that you also hire the service of a qualified professional to effectively see if there are any leaks and damage, and immediately repair them if spotted.
  • Install the right sump pump. If, for instance, you have bought a house with water problem, fret not, as there’s still a lot of solutions to stop water from entering your home, and one of them is with the use of sump pumps. A sump pump is a small pump tool that is typically installed in the lowest part of the house, such as in basement. Its job is to remove water from your home to help keep it dry. There are different types of sump pumps in the market, and to effectively make your home free from flooding, you should get the best zoeller sump pump for your basement water. But do remember that even if your house is not prone to water problem, installing a good sump pump is still crucial.

BEST PERSONAL LOAN RATES IN CANADA

Citi Canada (French: Citi Canada) is a unit of Citigroup of New York City. With roots in Canada dating back to 1919, the Canadian unit currently employs approximately 3,000 financial services workers in a range of consumer and institutional businesses. Citi Canada is headquartered in Toronto, with offices in Calgary, London (Ontario), Montreal, Mississauga and Vancouver.

Citi's major business lines in Canada are as follows:

Citi Transaction Services

Citi Corporate and Investment Banking

Citi Markets

Citi Private Bank

Citi Cards Canada

CitiFinancial

CitiFinancial Canada, Inc. is committed to excellence in serving all customers and members of the public, including people with disabilities. Our commitment is demonstrated in the areas of:

  • Communication - We communicate with people with disabilities in ways that take into account their disability. We train staff who communicate with customers and members of the public on how to interact and communicate with people with various types of disabilities.
  • Telephone Services - We are committed to providing fully accessible telephone service to our customers and members of the public. We train staff to communicate with customers over the telephone in clear and plain language and to speak clearly and slowly.
  • Communications and Availability of Documents - When providing any documentation to a person with a disability, CitiFinancial Canada, Inc. will do so in a manner and a format that takes into account the person's disability. If requested, an alternative format will be provided as agreed upon between the requestor and CitiFinancial Canada, Inc. and which takes into account the person's disability.

CitiFinancial Advantages:

  • Face-to-Face Service: We have more than 200 branches across Canada - one in your neighbourhood.
  • A Name You Can Trust: For more than 90 years, CitiFinancial has been helping Canadians realize their financial goals and dreams.
  • Save Time, Do it Online: Free, safe and secure access to your account online.
  • Customer Satisfaction: CitiFinancial has more than 250,000 customers and a 92% customer satisfaction rating!

(Based on Customer Satisfaction and Loyalty Survey for Canada, conducted by CitiFinancial, January 2014.)

Personal Loans:

  • Loan amount is $300-$20,000.
  • Loan term ranging from 12 to 60 months.
  • Fixed interest rates for entire loan term.
  • Quick online application with an instant online decision.
  • No prepayment penalties.
  • You can change your mind within 14 days with no charges, no hassles.

Who Can Qualify for a Loan?

You qualify if:

  • You are a resident of Canada, but do not reside in Nunavut
  • You have reached the age of majority in your province of residence
  • You have been discharged from bankruptcy for at least 7 years (if applicable)
  • You have some established credit history.
  • You have the ability to make monthly payments in order to pay off your loan.
  • You need the loan for personal, family or household purposes.

To qualify for a CitiFinancial Home Equity Loan, First Mortgage Loan or a Refinance Loan, you must also be the owner of the property securing the loan, and the property must be your primary home.

Interest rates are based on various factors, which include your income, credit score and payment history.​

Personal Loan Required Documents

After you apply online, CitiFinancial must verify the following information on your application:

  • Address
  • Age
  • Employment
  • Income

To verify your address and age, you will need to bring either of the -following to your local branch:

  • One piece of primary identification; or
  • Two pieces of secondary identification.

The following are acceptable forms of primary identification:

  • Canadian Forces Identification Card.
  • ​Driver's license.

Non-driver photo identification card issued by one of the following provinces:

  • Nova Scotia.
  • New Brunswick.
  • Prince Edward Island.
  • Newfoundland and Labrador.
  • Manitoba Liquor Control Commission Identification Card.
  • Gun License.
  • Hunting License.
  • Permanent Residency Card.
  • Passport.

The following are acceptable forms of secondary identification:

Employment badge/pass with the following:

  • Recognized company name.
  • Applicant's name.
  • Applicant's photograph.
  • Government issued birth certificate.
  • Current Credit card or Debit Card with an embedded photo.
  • Current bank statement.
  • Notice of Assessment.
  • Birth certificate with a raised or embossed seal.
  • Utility bill.
  • Provincial Health Card, when applicable.

This bill MUST:

  • be in the applicant's name.

Income Verification.

To verify your income, you may be required to provide one or more of the following documents.

Wages:

  • Current pay stub.
  • T4 from previous year.
  • Notice of Assessment.
  • Canada Pension Plan Statement dated within past 12 months.

Self Employed:

  • Notice of Assessment (2 years' worth).
  • Other information based on the self-employed entity type.

Payment Options

Online Payments

AutoPay Advantage

In-Branch Payments

Mail Payments to your Branch:

CitiFinancial Personal Loan Application Terms and Conditions

By submitting this Loan application, I acknowledge that I have read the legal information Terms and Conditions and Our Privacy Notice. I agree that the information I have given CitiFinancial on this application is complete and accurate and understand that CitiFinancial is relying on the information. I understand that if I do not provide you with complete and accurate information on this application, I will have to repay any debt resulting from this application to you even if I become bankrupt.

I authorize CitiFinancial to confirm my employment, to collect credit, personal and other information about me ("Information") from credit reporting agencies and other parties (including information as to whether I meet specific criteria), to conduct list editing (the practice of presenting a list of names and a list of criteria to a credit reporting agency to receive back a list of the names that meet the criteria) with respect to the Information, to use the Information collected and to disclose the Information collected to credit reporting agencies and other parties for the following purposes:

For a period beginning now and ending two (2) years from the latest of the date I (i) pay or (ii) otherwise fulfill all of my outstanding obligations incurred by me from time to time with CitiFinancial or (iii) my CitiFinancial account(s) are closed by me or by CitiFinancial, to determine my eligibility for the extension of credit in connection with this application and to determine my eligibility to receive other products, services and/or solicitations; to support the business relationship with me including opening and maintaining a file containing Information which Information will be kept up to date by CitiFinancial through regularly obtaining reports from credit reporting agencies and conducting other inquiries to advertise and offer additional products, services and/or solicitations of CitiFinancial or other parties that CitiFinancial believes may be of interest to me; and in connection with the collection of a debt or the fulfillment of another obligation owed by me to CitiFinancial.

For Nova Scotia residents only, in connection with your Account Application, you consent to the procurement and preparation of a consumer report in accordance with Section 11 of the Consumer Reporting Act of Nova Scotia.​

Citi Canada (French: Citi Canada) is a unit of Citigroup of New York City. With roots in Canada dating back to 1919, the Canadian unit currently employs approximately 3,000 financial services workers in a range of consumer and institutional businesses. Citi Canada is headquartered in Toronto, with offices in Calgary, London (Ontario), Montreal, Mississauga and Vancouver.…

CAN I GET A PROSPER LOAN IN CANADA?


Prosper Marketplace, Inc. is a San Francisco, California-based company in the peer-to-peer lending industry. The company operates Prosper.com, a website where individuals can either invest in personal loans or request to borrow money.

OVERVIEW:

Prosper is America's first peer-to-peer lending marketplace, with more than 2.2 million members and over $2,000,000,000 in funded loans. Borrowers request personal loans on Prosper and investors (individual or institutional) can fund anywhere from $2,000 to $35,000 per loan request. In addition to credit scores, ratings, and histories, investors can consider borrowers’ personal loan descriptions, endorsements from friends, and community affiliations. Prosper handles the servicing of the loan and collects and distributes borrower payments and interest back to the loan investors.

Prosper verifies borrowers' identities and select personal data before funding loans and manages all stages of loan servicing. Prosper's unsecured personal loans are fully amortized over a period of three or five years, with no pre-payment penalties. Prosper generates revenue by collecting a one-time fee on funded loans from borrowers and assessing an annual loan servicing fee to investors.

From 2006 to 2009 Prosper operated a variable rate model. Prosper acted as an eBay-style online auction marketplace, with lenders and borrowers ultimately determining loan rates using a Dutch auction-like system. Effective December 19, 2010, Prosper filed a new prospectus with the SEC, changing its business model to use pre-set rates determined solely by Prosper based on a formula evaluating each prospective borrower's credit risk. Under the new approach, lenders no longer determine the loan rate via price discovery in an auction. Instead, they simply choose whether or not to invest at the rate which Prosper's loan pricing algorithm assigns to the loan after it analyzes the borrower's credit report and financial information.

The idea for the service is derived from group banking concepts, such as rotating savings and credit associations. Other motivating ideas derive from the concepts of microlending and microfinance.

Prosper publishes performance statistics on its website and all market data is available to the public for analysis. All transactions are in US dollars; lenders and borrowers must be US residents. Prosper's 10.69% annualized seasoned rate of return, net of fees, for the period of July 1, 2009 through September 30, 2011 was independently audited by Ashland Partners & Company LLP in December 2011.

Prosper opened to the public on February 5, 2006 and was founded by Chris Larsen (the founder of E-loan) and John Witchel. Prosper is backed by BlackRock, Sequoia Capital, Accel Partners, Agilus Ventures, Benchmark Capital, CrossLink Capital, DAG Ventures, Draper Fisher Jurvetson, Fidelity Ventures, Omidyar Network (an investment vehicle of eBay founder Pierre Omidyar), Meritech Capital Partners, TomorrowVentures (an investment vehicle of Google Executive Chairman Eric Schmidt), and QED Investors (an investment vehicle of CapitalOne co-founder Nigel Morris).

CAN YOU GET A PROSPER LOAN IN CANADA?

No, you can't get a prosper loan in Canada.

Prosper Marketplace, Inc. is a San Francisco, California-based company in the peer-to-peer lending industry. The company operates Prosper.com, a website where individuals can either invest in personal loans or request to borrow money.…

15 BEST CANADIAN PERSONAL FINANCE BLOGGERS

What I do know is there are a lot of people who love talking about all things money-related, including how they’re going after their financial goals. Whether they’re paying down a mountain of debt, saving for a house, travelling on a budget, planning early retirement, or just sharing everything they know about credit cards, investing, taxes, you name it. Whatever you need to know about, there are people out there who share their stories and can inspire you throughout your own journey.

If you need a little inspiration, here are 15 best Canadian personal finance bloggers.

1

Boomer and Echo 

Written by a mother and son duo from Southern Alberta, Boomer (Marie) and Echo (Robb) offers the most unique combination of authors in the personal finance space. While Marie shares her stories about once struggling to raise a family and retiring with a decent income so she can do all she’s dreamt about, Robb discusses building his portfolio and working towards early retirement. He also knows a thing or two about the best credit cards in Canada!

2

Canadian Couch Potato 

Launched in 2010, the Canadian Couch Potato teaches readers about investing using index mutual funds and exchange-traded funds (ETFs). The “Couch Potato” strategy, as it’s now known, is growing in popularity as more people become disillusioned with overpriced, actively managed mutual funds and stock-picking strategies that try to beat the market. The blog’s author, Dan Bortolotti, is an investment advisor in Toronto, as well as a freelance writer.

3

Gail Vaz-Oxlade 

Gail Vaz-Oxlade likely needs no introduction. She’s a financial writer, author of more than a dozen personal finance books, host of a number of television shows, including ‘Til Debt Do Us Part, Princess and Money Moron, and has been helping people with money for more than 20 years. On her personal blog, Gail shares advice on how to get out of debt, how to budget, how to save… and how to cook, relax and enjoy life, too!

4

Give Me Back My Five Bucks 

In 2007, Krystal Yee found herself up against $20,000 of consumer and student debt. In deciding to get serious about her financial situation, she started a blog to document her debt repayment journey. Krystal wiped out her debt in just 12 months, then moved on to talk about building up savings, buying her first home in Greater Vancouver, saving for retirement, and travelling (and even living) abroad. She was also a contributor to the Toronto Star’s Moneyville site for many years.

5

Million Dollar Journey 

Frugal Trader, as he’s known to readers, began investing in mutual funds when he was just 16 years old, and got more serious about real estate and the stock market when he graduated from university. Over the years, he’s built an equity portfolio that has continued to grow. When he started the blog in 2006, he had a net worth of $200,000 and was determined to reach $1 million by the end of 2014; he achieved that goal six months early, in June. FT lives in Eastern Canada with his wife.

6

Mo’ Money Mo’ Houses 

While she’s not a debt blogger (and should be proud of that fact!), Jessica Moorhouse has been obsessed with personal finance for years. Born and raised in Vancouver, she now lives in Toronto with her husband, where she works as a digital marketing coordinator. For the past three years, she’s been writing about everything from finishing school, changing careers, getting married, budgeting as a couple, moving across the country… and possibly buying a house in Toronto!

7

Money After Graduation 

After graduating from the University of Alberta with a BSc., Bridget Casey realized she had over $21,000 of student loan debt – and wanted it gone. She started her career and began putting large lump sums down on it, while building her investment portfolio and saving for retirement. She paid off her debt in less than 2 years, which she wrote about on her blog. Bridget is now completing her MBA at the University of Calgary, and wants to help her readers build happy (and wealthy) lives.

8

Money We Have 

Barry Choi is one of the newer personal finance bloggers on the scene, but has a wealth of knowledge to share. With lots of travelling under his belt, he’s a self-described budget travel expert, and provides practical money saving tips to help you take your next dream vacation. When he’s not writing about that, or updating readers on how his investments are performing, Barry works at a TV newsroom in Toronto (where he lives with his wife).

9

My Alternate Life 

Jordann did all the things a millennial is told to do: go to school, get good grades and get a degree. After that, she would get a good job, make decent money, and go on to tackle all of life’s other milestones… right? Not when you have $38,000 of debt to payoff first. Since February 2012, she’s cut back on spending and documented her debt repayment journey (took less than 2 years), as well as updated readers on her savings goals and overall net worth. She also recently moved to Halifax.

10

My Own Advisor 

Mark Seed, of Ottawa, started investing when he was in his early 20s, after reading The Wealthy Barber. While he was first putting his money into mutual funds, and paying high management expense ratios (MERs), he eventually learned his lesson and started to pay closer attention to where, how and when he should invest. My Own Advisor is a personal finance and investing blog dedicated to chronicling his journey to financial independence.

11

Plunged in Debt 

While overspending is the cause of debt for many, that wasn’t the case for Catherine and her husband. No, her student loan debt is the reason they’re in deep – and the couple in Atlantic Canada is currently trying to pay off $70,000 in just 36 months. Catherine’s motivation came when she went on maternity leave and lost a substantial amount of monthly income, but she and her husband are now determined to reach debt zero and experience life on the other side.

12

Squawkfox 

If you describe yourself as “frugal” – or even remotely aspire to be so – Kerry Taylor can help you come up with a few ways to cut back. What started as a newsletter for friends in 2008 quickly turned into a fun blog with a strong focus on consumer smarts. She uses (mostly real) math and “science” to prove when something being sold to us is a bad deal, and the results are often humorous (and include great pictures to boot). Kerry lives in Toronto with her husband and their daughter.

13

The Blunt Bean Counter

Mark is a Chartered Professional Accountant and a partner with a National Accounting Firm in Toronto. Simply put, he knows money (especially income taxes) and is also fascinated by the psychology of it all. While his posts are targeted to high net worth individuals and owners of private corporations, there’s something on The Blunt Bean Counter for everyone. Just be warned that his opinions are, in fact, very blunt!

14

Young and Thrifty 

What started as an idea to create a resource that would help university students better understand personal finance turned into a mission… and a much bigger adventure! Kyle and Justin, two guys from Manitoba, first launched their own site, then took over Young and Thrifty from its original author. On the site, you’ll find posts about everything young adults need to know about, beyond how to pay off student loan debt (think: mortgages, investing, asset allocation and more).

15

Blonde on a Budget

That’s me! Well, that’s me when I’m not at work. I started my blog in 2011, when I realized I was maxed out with nearly $30,000 of debt. Blonde on a Budget first served as a place where I could stay accountable and document my progress. I paid off my debt in two years, then moved on to talk about savings, travelling and minimalism… and I’m currently in the middle of a yearlong shopping ban, which might inspire you to cut back in 2015!

What I do know is there are a lot of people who love talking about all things money-related, including how they’re going after their financial goals. Whether they’re paying down a mountain of debt, saving for a house, travelling on a budget, planning early retirement, or just sharing everything they know about credit cards, investing, taxes, you name it. Whatever you need to know about, there are people out there who share their stories and can inspire you throughout your own journey.…

How to Send Money From Canada to Florida

If you have moved to Florida for the summer or longer and are looking to transfer money from Canada to Florida this article is here to help.

The simple answer is that online Western Union Money Transfer is the cheapest and easiest but this article will give you other options as well!

The Western Union Company is an American financial services and communications company. Its North American headquarters is in Meridian, Colorado, though the postal designation of nearby Englewood is used in its mailing address. Up until it discontinued the service in 2006, Western Union was the best-known U.S. company in the business of exchanging telegrams.

Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services. They offered standard “Cablegrams”, as well as more cheerful products such as Candygrams, Dollygrams, and Melodygrams.…

Best Faxless Payday Loans Canada

While most companies require that you send in proof of income etc there are some same day faxless payday loan companies which do not require any information beyond what you fill out online.

A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a small, short-term unsecured loan, "regardless of whether repayment of loans is linked to a borrower's payday." The loans are also sometimes referred to as "cash advances," though that term can also refer to cash provided against a prearranged line of credit such as a credit card. Payday advance loans rely on the consumer having previous payroll and employment records. Legislation regarding payday loans varies widely between different countries and, within the USA, between different states.

To prevent usury (unreasonable and excessive rates of interest), some jurisdictions limit the annual percentage rate (APR) that any lender, including payday lenders, can charge. Some jurisdictions outlaw payday lending entirely, and some have very few restrictions on payday lenders. In the United States, the rates of these loans were formerly restricted in most states by the Uniform Small Loan Laws (USLL), with 36%-40% APR generally the norm.

There are many different ways to calculate annual percentage rate of a loan. Depending on which method is used, the rate calculated may differ dramatically. E.g., for a $15 charge on a $100 14-day payday loan, it could be (from the borrower's perspective) anywhere from 391% to 3733%.

Although some have noted that these loans appear to carry substantial risk to the lender, it has recently been shown that these loans carry no more long term risk for the lender than other forms of credit. These studies seem to be confirmed by the SEC 10-K filings of at least one lender, who notes a charge-off rate of 3.2%.

DollarsDirect.ca Review

dollars-direct-review

Requirements:

  • Have an active bank account
  • Be at least 18 years of age
  • Have been employed with the same company long enough to have received at least one payslip
  • Be a resident of Alberta, Ontario, Saskatchewan or BC

How Much Money Can I Receive?

  • $500 for new customers
  • $1,500 repeat customers

New customers may qualify for up to $500. Your loan amount is determined by the information you provide in your application, including your income, and by your credit history and their qualification criteria. Repeat customers can receive up to $1,500.

How Fast Do I Get The Money?

  • Same Day (if you apply before 1PM EST Monday - Friday)

If you apply on Saturday or Sunday, you may receive your funds as early as Monday. If Monday is a holiday, you’ll receive your funds as early as Wednesday. If you apply on a holiday, you may receive your funds as early as the business day after the holiday. The exact time of funding depends in part on when your bank posts direct deposits to your bank account. If you expect loan funds on a certain day, but do not see them in your bank account, please call their Customer Service team toll-free at 1-866-770-7165.

Your due date will normally be on your next payday that is between eight and 40 days away from the date your loan funds are deposited into your bank account. If your application is submitted by 1 PM ET Monday through Friday, your funds may be deposited the same day.

What is the Fee for my Payday Loan?

  • $21 for every $100 (Ontario)
  • $23 (BC, Saskatchewan, Alberta)

If you are a resident of Ontario, you will be charged a fee of $21 for every $100 borrowed; if you are a resident of either British Columbia, Saskatchewan or Alberta , you will be charged a fee of $23 for every $100 borrowed. If you have a discount code, you must provide it when you fill out your application to receive the applicable discount on the loan fee.

Will I Need To Send a Fax?

  • Often NO Fax Is Required!

While most companies require that you send in proof of income etc there are some same day faxless payday loan companies which do not require any information beyond what you fill out online.

A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a small, short-term unsecured loan, “regardless of whether repayment of loans is linked to a borrower’s payday.” The loans are also sometimes referred to as “cash advances,” though that term can also refer to cash provided against a prearranged line of credit such as a credit card. Payday advance loans rely on the consumer having previous payroll and employment records. Legislation regarding payday loans varies widely between different countries and, within the USA, between different states.

To prevent usury (unreasonable and excessive rates of interest), some jurisdictions limit the annual percentage rate (APR) that any lender, including payday lenders, can charge. Some jurisdictions outlaw payday lending entirely, and some have very few restrictions on payday lenders. In the United States, the rates of these loans were formerly restricted in most states by the Uniform Small Loan Laws (USLL), with 36%-40% APR generally the norm.

Personal finance and accounting

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3 Fastest Small Business Loan Companies in Canada

Are you running a small business and need money now! 

Banks take too long and turn you down, payday loans are too expensive and gambling for payroll doesn't always work out as well as it did for Fred Smith from FedEx.

Luckily there are some companies that now provide opportunities for Canadian small businesses to get access to fast cash to cover expenses.

Below is a review of the opportunities for Canadian small businesses to take out fast loans or merchant cash advances.

Merchant Advance

Best for 6+ month old businesses who don't need the $ today!

Borrow $1,000-$350,000

Receive Funds in 1-2 days

  • Great Interest Rates
  • Repayment Options
  • Must Be in Business 6 Months
  • %5k/month minimum

Fast Cap 

Best for businesses who need money FAST!

Borrow $500-$100,000

Receive Funds in 24hrs!

  • 99.8% Approval Rate
  • No Credit Check
  • Repayment terms are fixed
  • $100k limit

Dollars Direct

Best for VERY small businesses with low monthly volume

Borrow $100-$1,500

Receive Funds in 24hrs!

  • Fast Approval
  • Simple Application
  • Expensive
  • $1,500 limit

10 Reasons to Borrow Money as a Small Business...

  • Expansion
  • Payrool
  • Equipment
  • Cash Flow
  • Inventory
  • Renovations
  • Buying out a Partner
  • Paying Bills
  • Tax Payments
  • Other Emergencies

​Below are reviews of the best options to get a small business loan quickly in Canada...

FAST CAP FINANCIAL REVIEW

fastcap-financial-review

Using their secure & easy automated system, the advance is paid back automatically on a daily basis through a portion of your future Visa, Mastercard & Debit sales. The total advance consists of the funded amount, plus a fee that is determined through their application process. Unlike a bank loan, other merchant cash advance companies, there is NO credit check, NO accruing interest, NO timeframe, NO collateral & NO fixed payments.

their Program is ideal for ANY Canadian business, regardless how long you have been in business, who your processor is, your industry or processing volume. We can provide a quick infusion of cash for any and all types of business needs.

FastCap Financial offers quick injections of cash into your business. By quick, we mean the same day! Their approval process is fast, simple and transparent and we approve every qualified and completed application for an advance, guaranteed.

Requirements:

  • Must have a registered Canadian Business in Business 1 Month
  • You Must Have a Physical Business Location
  • You Must Currently Accept Debit or Credit Cards ($1k/month)

How Much Money Can I Receive?

  • $1000 to $1,000,000

Fast Cap Financial will provide you with funds based on your sales volume.

They have a handy calculator on their homepage to help determine how much you can borrow.​

How Fast Do I Get The Money?

  • 24hrs!

Fast! their application process is simple and we can have funds in your account in 24 hours.

What is the Fee for my Loan?

  • No Charges or Fees for the Loan!
  • Interest rate charged and no timeframe

Applying, getting funding options and submitting an agreement is absolutely free, there are no fees charged during the application process. There is interest and no timeframe. We purchase future receivables at a discount. There is a onetime fee, the size of the fee for your merchant cash advance depends on a number of factors including the size of the advance, the industry you are in, the level of seasonality in your business, and the size of your average sale, among other things. Find out exactly what you qualify today! Just fill out their online application form and a FastCap Funding specialist will contact you

Will I Need To Send a Fax?

  • NO Fax Is Required!

Merchant Advance Capital Review

dollars-direct-review

Their merchant advance program takes your future cash flows and turns them into immediate cash that you can use for your business right away. The balance is paid off automatically through a portion of future debit/credit card sales, or through an automatic fixed daily payment in the event that your business does not accept much debit/credit.

The balance consists of the funded amount, plus a fee that is determined through their application process. Their process is simple and transparent

Requirements:

  • Business with a physical location
  • Been in business 6 months & have 6 month lease
  • $5k/month in debit/credit card sales

Their merchant advance program takes your future cash flows and turns them into immediate cash that you can use for your business right away. The balance is paid off automatically through a portion of future debit/credit card sales, or through an automatic fixed daily payment in the event that your business does not accept much debit/credit.

How Much Money Can I Receive?

  • $350k per location!

Merchant Advance can provide up to $350k per location!

How Fast Do I Get The Money?

  • 1-2 business days

They can provide funding for your business in as little as 1-2 business days upon receiving your completed application forms and documents

What is the Fee for my Loan?

  • No Charges for the Loan!
  • Daily interest rate charged based on your application

A merchant cash advance manager will contact you to provide more details once you apply.

By analyzing your historical debit/credit card sales volumes we establish targets for the length of your merchant cash advance program. A program can be designed to last anywhere from 3-10 months and the amount of cash that we can advance you depends on the length of the program. However, the length of time it actually takes for us to get paid back depends on how well your business does (we don’t get paid until you get paid!). Apply now and a Merchant Advance Capital Relationship Manager will contact you to discuss which options best suit your needs.​

Will I Need To Send a Fax?

  • NO Fax Is Required!

DollarsDirect.ca Review

dollars-direct-review

Requirements:

  • Have an active bank account
  • Be at least 18 years of age
  • Have been employed with the same company long enough to have received at least one payslip
  • Be a resident of Alberta, Ontario, Saskatchewan or BC

How Much Money Can I Receive?

  • $500 for new customers
  • $1,500 repeat customers

New customers may qualify for up to $500. Your loan amount is determined by the information you provide in your application, including your income, and by your credit history and their qualification criteria. Repeat customers can receive up to $1,500.

How Fast Do I Get The Money?

  • Same Day (if you apply before 1PM EST Monday - Friday)

If you apply on Saturday or Sunday, you may receive your funds as early as Monday. If Monday is a holiday, you’ll receive your funds as early as Wednesday. If you apply on a holiday, you may receive your funds as early as the business day after the holiday. The exact time of funding depends in part on when your bank posts direct deposits to your bank account. If you expect loan funds on a certain day, but do not see them in your bank account, please call their Customer Service team toll-free at 1-866-770-7165.

Your due date will normally be on your next payday that is between eight and 40 days away from the date your loan funds are deposited into your bank account. If your application is submitted by 1 PM ET Monday through Friday, your funds may be deposited the same day.

What is the Fee for my Payday Loan?

  • $21 for every $100 (Ontario)
  • $23 (BC, Saskatchewan, Alberta)

If you are a resident of Ontario, you will be charged a fee of $21 for every $100 borrowed; if you are a resident of either British Columbia, Saskatchewan or Alberta , you will be charged a fee of $23 for every $100 borrowed. If you have a discount code, you must provide it when you fill out your application to receive the applicable discount on the loan fee.

Will I Need To Send a Fax?

  • Often NO Fax Is Required!

Are you running a small business and need money now!

Banks take too long and turn you down, payday loans are too expensive and gambling for payroll doesn’t always work out as well as it did for Fred Smith from FedEx.

Luckily there are some companies that now provide opportunities for Canadian small businesses to get access to fast cash to cover expenses.

Below is a review of the opportunities for Canadian small businesses to take out fast loans or merchant cash advances.…

New Zealand moves to three days a week mail service

Times are changing with postal services around the world thanks to people’s reliance on smart phones and email.

New Zealand recently agreed to cut its mail delivery to three days a week in urban areas and five days a week in rural areas, since they’re more reliant on mail, by 2015. Normally, mail is delivered six days a week.

The New Zealand Post fought for the change since it currently barely breaks even. If the normal delivery schedule continue, the service would be put it in the red, according to the Telegraph.

During the last 10 years, the amount of mail sent has dropped by a quarter and it’s expected to continue rapidly dropping. The nation continues to lose another eight per cent each year, the communications minister told the Telegraph.

Anyone looking for daily mail deliveries can sign up for a premium courier-type service, but it will be interesting to see how businesses and newspapers adjust to this change.

Meanwhile, Canada Post looks like it is in a boat that is steadily sinking. The Crown Corporation saw a $104-million loss in Q2 of this year and it expects a huge loss in 2013. As if that was not enough, they are expected to face a yearly loss of $1 billion by 2020, according to a report produced by the Conference Board of Canada.

It’s important to point out that its letter delivery dropped by 51 million pieces since Q2 of 2012, while parcel packages have grown thanks to more online shopping. Unfortunately, the letters, otherwise known as transaction mail, which includes bills and statements, account for 50 percent of the company’s revenue. Tough times are ahead, especially with companies pushing paperless billing.

At least there is some hope for Canada Post’s parcel delivery. Canada Post recently announced a partnership with Walmart, Best Buy and Indigo to try same-day delivery. Anyone who orders items by midday can expect to receive it in the evening. A pilot program is being tested in Toronto.

Some of the cost-cutting options floated around include getting rid of door-to-door delivery mail in urban areas, which is available to one-third of Canadians, which could cut the bleeding by about half, the Conference Board told the CBC. Canada Post is also looking into consolidating mail processing, implementing new technology for sorting and shortening hours at slower retail locations.

While residential owners might not mind a shift in the number of deliveries a week, apparently it will be a bigger issue for small business owners who are more reliant on the regular postal service.

But let’s face it, drops in mail service are being felt around the world. The U.S. Postal Service planned to cut Saturday mail service, but it faced resistance, while Britain recently privatized its mail service, Royal Mail. Who knows if other countries’ mail services will follow New Zealand’s route.

Would you mindless frequent mail service?