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Use case

Technology upgrades funding: how to size it and what to watch.

A new point-of-sale system, software platform or computer refresh can save hours every week.

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

What this looks like

A new point-of-sale system, software platform or computer refresh can save hours every week.

Outdated systems slow staff, lose orders and create errors. Upgrades usually combine hardware, software subscriptions and setup time.

How to size it

Fund the one-time costs: hardware, setup, data migration and training. Recurring subscriptions belong in the monthly budget, not in the advance.

Illustrative arithmetic

A restaurant depositing about $65,000 a month asks for $15,000 for a new POS and kitchen screens. At a 1.22 factor the payback is $18,300, a cost of $3,300. Over roughly 4 months that is about $218 per business day, or close to 7% of monthly deposits.

  • Total payback: $18,300.
  • Cost: $3,300.
  • Payment: about $218 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 short advance suits a defined upgrade. Many vendors also offer payment plans that cost less.

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.

Timing the switch

The cheapest upgrade can become the most expensive if it goes live during the busiest weeks of the year. Schedule the change for a slow period, keep the old system available for a week and train staff before launch day. The advance should land just before the work starts, not months earlier.

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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