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TORONTO , July 6, 2022 /CNW/ - Businesses that are eligible for government grants in Canada can immediately access up to 80% of the value of the grant rather than waiting months for the government to remit. Easly, a Capital-as-a-Service company, has expanded its financing offering to qualified companies to include the more than 1,300 government grant programs. This new offering is an addition to its investment tax credit (ITC) program under Easly Advances.
Typically, the government's grant disbursements are paid at set intervals or when a company achieves certain milestones. Easly Advances provide financing months sooner and that accelerates cash flow for companies with a high burn rate or have limited revenue. There are no monthly payments required on Easly Advances, so unlike term loans or lines of credit, Easly Advances don't eat into a company's cash flow". Repayment to Easly is made directly from the grant disbursement or CRA refund.
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"Predictable cash flow is key to managing a company's financial health, so we developed an alternative lending option to help meet that need," said Andrew Kareckas, CEO of Easly. "Whether you are applying for a Scientific Research & Experimental Development (SR&ED) tax credit or waiting for a payout from a government grant, we can get you those funds sooner."
Easly Advances also allow companies to leverage their total cash on hand to secure more funds, a process known as stacking. If a grant requires a 50% contribution from the business in order to qualify, then it is possible to use Easly Advances to bring forward a SR&ED refund and increase the size of the 50% contribution and therefore the size of the total grant.
Easly provides companies with opportunistic working capital, helps them improve their cash flow, diversify their capital mix, and possibly avoid dilution through equity raises early in a company's life. Easly has had 87% of its customers draw multiple times from multiple programs.
The Federal Government's 2022 Budget included a focus on building more innovation into the economy, and funding available to Canadian companies saw an enormous increase. This includes an additional $7.2 billion for the Strategic Innovation Fund, which is accessible to companies operating across many different sectors.
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"The federal government's policies are moving more to grants than tax credits," added Kareckas. "This approach will ensure that more government funds go to supporting the innovation economy, which creates jobs and other benefits that derive from a growing economy.
Easly Solutions Corp. is a market leader in investment tax credit and grant financing. Through its Capital-as-a-Service financing platform, Easly provides Canadian companies of all sizes with non-dilutive capital that's accessible throughout the year by leveraging a company's accruing tax credits and grants. Bringing the receipt of these funds forward enables companies to strategically invest in their growth without having to trade equity.
Fundeasly.com
SOURCE Easly
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.