We are pleased to announce that Rapid Capital is now Easly, developed to make it easier for Canadian businesses of all sizes and types to take advantage of the SR&ED Program through non-dilutive capital funding. Easly helps reduce the time commitment and stress involved in the SR&ED refund process, and allows businesses to receive advances on their SR&ED refunds up to 15 months before they file for SR&ED.
Proven Ability to Offer Forward-Thinking Funding Sources
Wholly-owned and privately-held by an award-winning United States company, Easly has financed over $15 million in SR&ED claims since 2017. With the ability to assist businesses of any size, Easly has facilitated claims ranging from $50,000 to more than $2,000,000.
Backed by decades of experience within the SME lending and credit markets, Easly brings exceptional expertise, in-depth domain experience, and innovative insight in working with government tax programs and incentives to its clients. This unique combination of industry-leading attributes enables Easly to create and deliver cutting-edge products that are tailored to the specific needs of their clients.
What the SR&ED Program Means for Businesses
Designed to encourage businesses of all sizes and types to invest in research and development (R&D) activities, the SR&ED Program is administered by the Canadian Revenue Agency (CRA). Each year, 20,000 claimants access $3 billion worth of tax incentives. About 75 percent of these are small businesses.
Though the specific incentives available to a particular business can vary based on the applicant, a deduction of the SR&ED expenditures from the company’s taxable income that leads to a reduced tax calculation in terms of taxation is one possibility. A company could also be entitled to an Investment Tax Credit (ITC) based on SR&ED expenditures that reduce the income tax liability of the business. In some cases, the ITC that remains could be issued as a refund.
Easly strives to make the entire SR&ED experience as streamlined, quick, and painless as possible. Easly understands that to thrive, a business must focus its efforts on meeting its goals. Using a unique, low-touch process online that allows Easly to assess a company’s credit and SR&ED expenditures with minimal time commitment from its clients, qualified businesses could be approved in as little as two weeks.