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While Traditional Debt Becomes More Expensive and Venture Capital Slows, Easly Advances Remain a Stable Source of Growth Funding
Easly’s rate for advancing SR&ED refunds has been the best in the market since we began lending in 2017, and that’s where it remains today. Our rates will not change in response to the Bank of Canada’s (BoC) current monetary policy, nor will our goal of deploying $1 billion into the Canadian innovation ecosystem.
The BoC began with Quantitative Tightening (QT) in April 2022 in response to the highest inflation rate we’ve seen in nearly half a century, causing capital markets to start restricting. The July 13th announcement of a 100bp increase to the BoC’s policy rate, the largest increase since 1998, was a rude awakening for Innovators that have already seen a significant slow-down in venture capital (VC) funding. What’s more, all signals from the BoC indicate that more rate hikes are coming.
Easly Advances remain unchanged as a source of non-dilutive, on-demand capital at a stable, competitive rate. While always a handy tool in a company’s capital toolbox, Easly Advances are now more attractive than ever. We deploy funds through our Capital-as-a-Service platform, which is free to use and has your first advance deposited within two weeks.
The government funding programs we lend against are here to stay, and the support they provide is more critical. Canadian startups, scaleups and mature enterprises all benefit from these generous funding programs. While they shine in their size and scope, their delivery is not timely. Companies are left waiting months to see cash in their accounts even after they’ve been approved for funding. Easly Advances unlock those government funds and make them accessible when it suits the recipient company.
In uncertain times, stability is paramount. Innovators can count on Easly to provide streamlined growth funding at a consistent rate. While seemingly larger-than-life forces are at play shocking capital markets, we’ll be here to support your business. Join us on the road to $1 billion.
Alastair Nimmons
Executive Vice President, Easly
