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ARTICLE · 28 FEBRUARY 2023

Tech Lending: Software As A Service

Aird & Berlis LLP
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This article is the fourth in a series providing an overview of critical considerations for commercial lenders contemplating whether to finance a tech company and how such loans can be secured.

CanadaFinance and Banking
Jonathan Yantzi
Jonathan Yantzi
Karlie Nordstrom
Karlie Nordstrom
Julie Brennan
Julie Brennan
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This article is the fourth in a series providing an overview of critical considerations for commercial lenders contemplating whether to finance a tech company and how such loans can be secured.

What is SaaS?

With the rise of cloud-based computing, Software as a Service (SaaS) models have become leading players in the technology space. SaaS is a software licensing and delivery model in which users have remote access to software – or, more accurately, to the functionality of software. Users access the services online through an external server, as opposed to installing hardware locally. SaaS is often a subscription service; the customer makes regular recurring payments. Examples of SaaS companies include SalesForce.com, Google, MailChimp, SurveyMonkey, Adobe, Slack, Shopify, Dropbox and DocuSign.

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