Bitcoins and business swings

As I write this, the market price for a single bitcoin is $1,259 on the Mt. Gox exchange.  It was around $152 on November 1.  If you don’t understand the sentence I just wrote – don’t worry.  Bitcoin is a virtual currency that is still being sorted out by individuals, markets, banks and government.  InContinue reading “Bitcoins and business swings”

Fringe bankers. A new term I may use again (and again)

Matt Horne, Founder and CEO of DECO Windshields chatted with me yesterday in a Google Hangout about all things business finance.  Matt has built a company that generates over $5,000,000 in revenue and had lots to say about money, business and the learning curve that he has had to go on to keep the doorsContinue reading “Fringe bankers. A new term I may use again (and again)”

Here is a sure fire way to freeze up the economy

If you own a home or have ever purchased a home but did not have more than 20% to use as a down payment chances are that your mortgage needed to be insured by CMHC or another company.  Mortgage insurance helps banks and lenders in the event that you stop making mortgage payments and yourContinue reading “Here is a sure fire way to freeze up the economy”

Wow – this is not only innovative but really pushes the envelope

From time to time I read a great article (defined by me to be innovative and creative) and feel the need to share it.  For those of you who are aware of Uber this article may be of interest to you.  For those of you who do not know of Uber you should know thatContinue reading “Wow – this is not only innovative but really pushes the envelope”

What would your business be worth today?

This comes up often with small business owners – what is your business worth today?  Many small business owners don’t usually have a clear answer or even an idea of how to value what they are building.  I thought I would share some basic information about how to answer this question for those business ownersContinue reading “What would your business be worth today?”

1,000 pages later

Talk to any banker, lender, mortgage specialist or broker about paperwork and one of their biggest frustrations  would be “when clients send me their information in bits and pieces over dozens of emails and faxes”.  It’s amazing that everyone needs access to the documents and information associated with a borrower but there is no streamlinedContinue reading “1,000 pages later”

1 thing to know about commercial mortgages

I was sitting with an RBC mortgage specialist today who is also a good friend of mine.  We were discussing the woes of life and catching up on industry news and market changes.  He mentioned to me that he didn’t realize that commercial mortgages required so much time to not only get approved but toContinue reading “1 thing to know about commercial mortgages”

3 reasons business loans are not approved

I was reading the results of a survey conducted by the Business Development Bank of Canada (BDC) that highlighted three main reasons why companies seeking financing were not able to obtain the loan they wanted.  In my experience working with businesses to secure debt financing I agree with the reasons and would suggest an additionalContinue reading “3 reasons business loans are not approved”

9 days turns into 90

I was reminded today that in our business days turn into months without even noticing it.  I have a client that is seeking a refinance of a private mortgage and had expected to have everything completed at the beginning of September. It is now the middle of November and we will be getting our DealContinue reading “9 days turns into 90”

$50,000 could be available for your business

Many small businesses have a hard time with technology.  A hard time understanding what technology they should be using as well as a hard time staying up to date on the changes happening in the marketplace with technology that could be helping their business do more.  Believe it or not the Government of Canada hasContinue reading “$50,000 could be available for your business”