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Use case

Renovation and fit-out funding: how to size it and what to watch.

A refit pays back through higher traffic, better margins or more seats, and the work cannot be done in pieces.

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Same dayDecisions, often
500+Scores considered
CADExamples in
SizedTo the need

What this looks like

A refit pays back through higher traffic, better margins or more seats, and the work cannot be done in pieces.

Restaurants, clinics, salons and retailers all reach the point where the space limits revenue. A renovation is a defined project with a quote, a timeline and a downtime window.

How to size it

Use the contractor's quote plus a contingency of 10 to 15 percent. Include the cost of lost revenue during construction, which many owners forget.

Illustrative arithmetic

A dental practice depositing about $130,000 a month asks for $60,000 for a two-chair expansion. At a 1.2 factor the payback is $72,000, a cost of $12,000. Over roughly 8 months that is about $429 per business day, or close to 7% of monthly deposits.

  • Total payback: $72,000.
  • Cost: $12,000.
  • Payment: about $429 per business day, close to 7% 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.

Which structure tends to fit

A longer revenue-based structure spreads the payment across the payback of the renovation. A short advance suits a quick refresh.

Where it goes wrong

Before you apply

Typical starting points

Monthly revenueTypically from around $20,000 a month in deposits for Canadian files. The exact line varies by funder and by file.
Time in businessTypically about 12 months. Newer businesses can be reviewed, but the options narrow.
Account healthLimited low-balance or negative days. Funders read the last few months of bank statements for this.
CreditScores from 500 are considered. A score of 600 or higher opens more options and better offers.
DocumentsA signed application and recent business bank statements, typically the last four months.
Existing advancesFiles with an existing advance can be reviewed, including second position.

Common questions

How much should I ask for?

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.

Which structure is best?

It depends on whether the need is a one-time purchase or a recurring gap. See the comparison pages for the trade-offs.

How fast can I get it?

Decisions are often the same day on a complete file, and funding can follow the next business day.

Keep reading

Funding use casesPayroll, inventory, expansion and moreMerchant cash advance CanadaHow an advance against future card sales worksRevenue-based financing CanadaRepay a fixed multiple as a share of revenueCash-flow affordability calculatorCan the month carry the payment?Underwriting situationsCredit, NSFs, time in business and more

Educational information only. It is not legal, tax or accounting advice.

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