YOUR COMPANY IS LOOKING FOR A SR&ED FINANCING SOLUTIONS!
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Financing & Cash flow are the biggest issues facing business today
ARE YOU UNAWARE OR DISSATISFIED WITH YOUR CURRENT BUSINESS FINANCING OPTIONS?
CALL NOW - DIRECT LINE - 416 319 5769 - Let's talk or arrange a meeting to discuss your needs
EMAIL - INFO@7parkavenuefinancial.com
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
Direct Line = 416 319 5769
Email = sprokop@7parkavenuefinancial.com
The R and D Tax Credit in Canada - You've done your part on your CRA Sred Claim, and now it's up to the program to deliver on your refund chq. Several issues affect the approval and timing of your refundable credit in the government cheque form. Financing your claim accelerates that whole process. Let's dig in.
As a business owner or financial manager that participates in the Canadian SR&ED program, it's not hard to ' visualize’ banking that final cheque for this year's refund. Numerous issues had to be addressed, including your claim's quality, who prepares it and assessing your own firm's need to finance the claim to accelerate the refund.
It's not hard to understand the Govt r and d refund program's attractiveness is almost an understatement. The evidence of that? Simply that thousands of firms like your claim Billions of dollars annually.
That cash refund, of course, can be used for any general corporate purpose '. That includes working capital, operations, investments in assets, and safe to say, starting next year's claim again, allowing your firm to meet its competitiveness.
When you leverage the program, you're utilizing the tools the federal and provincial government gives you to prepare and self assess your claim. That involves either preparing the claim yourself, which is certainly allowed but not always recommended. Third-party SR&ED ' consultants ‘carry the burden of preparing their claim. That benefits owners who take advantage of these folks' expertise and utilize the ' contingency' method that SRED Consultants utilize to charge you for their services. (They absorb the cost and time associated with claim preparation - taking a portion of the final refund as their remuneration)
If the saying ' cash flow is king' applies to pretty well every business, it certainly applies to those firms investing in research to maintain their competitive stance. That cash flow via the SRED refund from Canada Revenue Agency (‘CRA ') is accelerated via the financing of your claim.
Let's outline the basics of a SRED loan. The majority of claims are financed in what we can call a ' bridge loan ' format. Your firm receives 70% of the amount of the combined fed/prov claim. And the monthly payments. None, because the bridge loan allows you to receive funds today and not pay back the loan until the claim is approved via the CRA process, which can include financial audits, etc.
When we tell clients that they don't need to visualize the future funding, imagine their surprise when we cover some of the more recent developments in R and D tax credit financing. They include receiving funds before your actual filing of the claim as well as being able to fund next year's claim... today.
Your SRED loan package could not be more basic - it includes your financials, a copy of your claim, info on who prepared it, and any other pertinent basics around a typical business loan.
If you're looking to ' bank, 'not just ' visualize' your r&d claim, seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you in funding your refund .. today!
Stan Prokop
