Use case
Floods, fires and storms close businesses long before insurance pays.
✓ Checking what you qualify for does not affect your credit score.
Floods, fires and storms close businesses long before insurance pays.
After a flood, fire or major storm, a business may need to clean up, repair, replace stock and keep staff paid while insurance claims are processed. Waiting can mean losing customers permanently.
Fund the gap between immediate costs and the expected insurance payment. Keep receipts; the claim may reimburse part of what you spend.
A retail store depositing about $50,000 a month asks for $20,000 to reopen after a flood. At a 1.25 factor the payback is $25,000, a cost of $5,000. Over roughly 5 months that is about $238 per business day, or close to 10% of monthly deposits.
Every figure on this page is illustrative arithmetic in Canadian dollars. It is not an offer, a quote or a promise of approval.
A short advance bridges until the claim settles. Government disaster programs, where available, may offer cheaper support.
A disaster creates an obvious gap in your statements. Explain it in two lines with dates, attach the insurance claim number and show the reopening date. A reviewer reads a clear, documented event very differently from an unexplained decline.
Ask for the amount you can name in dollars and tie to a quote, invoice or schedule. A smaller, specific request is easier to approve and cheaper to repay.
It depends on whether the need is a one-time purchase or a recurring gap. See the comparison pages for the trade-offs.
Decisions are often the same day on a complete file, and funding can follow the next business day.
Educational information only. It is not legal, tax or accounting advice.
Same-day decision. Applying takes a few minutes and will not affect your credit score.
