The Canada Revenue Agency’s (CRA) SR&ED tax incentive refund can take up to 18 months for companies to receive. This could leave them with short-term cash flow problems while they wait for payment. Most businesses rely heavily on these funds to advance their technological and market position.
Waiting for a SR&ED tax refund can bring R&D projects to a halt and slow the momentum of innovation. For eligible companies, Easly can provide SR&ED refund financing within 72 hours of approval, and the approval process can be done within two weeks. Repayment is made directly to Easly from the CRA. This means companies don’t have to wait months for their refund to arrive, and the whole process is cash flow positive.
Apply for an Easly SR&ED advance and avoid the dangers of waiting for your refund.
Filling the Cash Gap
Innovative entrepreneurs who have sought funding from venture capitalists are often faced with a challenging dilemma – whether or not to give up their equity. Easly’s SR&ED funding is non-dilutive – so you keep 100% of your equity. Upon approval, Easly can provide your company with funds equal to 75% of your accrued SR&ED refund every quarter.
Benefits of a Cash Advance
In the research and development space, time is money. Every company seeks to be the innovator and leading player in their field. When your projects are put on pause, competitors gain an edge. You simply don’t have the luxury to lose market position in today’s economy. Don’t put your company’s financial stability at risk. Speak with a member of the Easly team to discuss your SR&ED financing options. Without taking this step, you can dry out your existing capital, threatening your business’s future.
Accelerate Your Product Development with Capital from Easly
When you’re at the product development stage, you need a steady and dependable cash flow to ensure you can fine-tune your research and development on demand. If you have to wait for funding, you could lose your competitive edge.
Partner with Easly for Long-Term Funding
Easly is dedicated to helping Canadian companies maximize their Research and Development progress. To find out more about innovative SR&ED financing and how we can create a personalized solution for you, contact us to explore your options.