SRED Financing is your firm’s ability to take immediate cash flow and working capital advantage of our SR&ED tax credit claim. This program, (formal name = Scientific Research and Experimental Development) is bar none the best tax incentive program in
The irony in this great program is simply that almost 70% of companies in Canada that are eligible for the program do not even apply, let alone receive their funds!! It clearly is a source of untapped cash flow and working capital for your Canadian business that should be maximized to the hilt.
The other 30% of Canadian firms who use the program utilize it around their efforts to develop new products and services, building prototypes, and solving technological challenges.
So your Canadian controlled private company utilizes and files Sred filings. Did you know your claim can be financing immediately after you file it, literally the same day. Specialists that work as ‘SR&ED consultants are experts in preparing your claim and in Canada your sred calim can be prepared at your cost – and you keep all the proceeds of the government grant, or alternatively, your claim can be done on a contingency basis, at no cost to yourself, and the consultant usually keeps anywhere from 10-30% of the total refund received.
However most Canadian business owners and their Sred consultants do not know that your claim can be financing, either during the preparation of your claim, (yes, before your file, if you qualify!) or immediately on filing of your claim.
Generally with this type of financing you receive immediately approximately 70% of the value of your claim. The other 30% still comes back you of course,but its simply a bit of a buffer to cover financing costs and any risk that a portion of the claim will be disallowed or clawed back .
When we think in terms of specialty financing we can categorically state that SRED financing is specialty financing in
The SR ED financing process is not as complicated as you seem if you are well prepared and have access to good assistance. Its as simply as completing a basic business financing application, ensuring proper back up is in place and valid . That includes info on your company, the Sr Ed claim itself, your previous Sr Ed claims if you have filed previously etc.
The reality is that SR ED financing can be completed within 2-3 weeks of starting the process. The beauty of this type of financing is that no payments are made on the sred loan. In effect you can say that you have factored or discounted the Sr Ed claim. You are simply waiting for your cheque from
In summary, of course ensure you are taking advantage of
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