FREQUENTLY ASKED QUESTIONS
Easly provides access to great source of painless, affordable, non-dilutive capital. Whether you are a startup looking for non-dilutive capital or a mature company looking to unlock added liquidity, Easly’s financing can benefit your company.
To make a claim, you must file a T2 corporate income tax return and Form T661 with the CRA at the end of your fiscal year.
Many companies look to accounting firms and specialty SR&ED consultants to prepare their SR&ED claims (Form T661). Filing a SR&ED claim can be a daunting task for those just starting out and these professionals can help both young and mature firms navigate the process. Easly can finance all claims whether its prepared by professionals or not but we recommend working with one of our trusted partners for the best rates and outcomes. Please contact us for more details.
Any business that spends money on novel research or is advancing existing technology in order to improve or develop new materials, devices, products or processes may be eligible to claim SR&ED.
Salaries and wages, materials, overhead expenses and third-party payments my all be acceptable SR&ED expenditures.
Any company that expects to receive a SR&ED refund is eligible for SREDLine. Approval is determined based on several factors ranging from your overall financial health to the strength of your SR&ED claim.
Basic company information, financial information, and information about your SR&ED claim and tax history.
Qualified customers’ applications can be approved in as little as two weeks. Funds will be released in as quickly as a few hours after an application is approved and confirmed. The funds usually appear the next business day but may take up to three business days to process.
Yes. We review every company on a case-by-case basis.
The majority of our borrowers do not require personal guarantees to qualify. Some borrowers who would otherwise not qualify may submit a personal guaranty.
Yes, we take a priority lien on the proceeds of your SR&ED refund and subordinate on all other assets.
We only require a priority lien on the proceeds of the SR&ED refund. We have experience working with the major lenders in Canada.
We get paid when you receive your SR&ED refund.
We review any potential delays (such as a technical and/or financial audit) and grant extensions on a case by case basis.
In the unfortunate event your claim is denied, you will still owe the loan amount.
No you can terminate the SREDLine agreement at any time at no cost as long as your outstanding balance is zero.
At the end every quarter, we calculate your available balance based on updated financials and SR&ED expenditures which you can then use to request an additional draw.
The amount of funding is based on the size of your SR&ED expenditure for the relevant time period.
There are no restrictions on the use of funds received from the SREDLine. Many of our customers inject the funds right back into R&D.