Capital-as-a-Service Company, Easly, Exceeds $100 Million in Deployed Capital Company Reaches Major Milestone After Just Three Years in Canada

TORONTO, October 6, 2022 /CNW/ – Canadian businesses that receive tax credit refunds or grants from the government have received more than $100 million in financing with the tax credit and grant financing company, Easly. A growing number of companies have turned to Easy Advances to ensure a more predictable cash flow and faster access to capital. Two-thirds of Easyly’s advances are recurring business and advance amounts range from $25,000 at $2 million.

“Passing the $100 million milestone clearly shows that there is an active demand for tax credit and grant funding from the innovation economy across Canada,” said Alastair Nimmons, Executive Vice President. “There is also more to come – there are billions in tax credits and grants available to small and medium-sized businesses, but many businesses are not taking advantage of the early monetization of these programs and not using the money sooner.”

Typically, tax credit refunds and government grant payments are paid out at regular intervals or when a company reaches certain milestones. Easy Advances provides capital months earlier, accelerating cash flow for businesses with high burnout rates or limited revenues. There are no monthly payments required on Easy Advances, so unlike term loans or lines of credit, Easy Advances doesn’t eat away at a business’ cash flow. Reimbursement to Easly is made directly from the reimbursement or grant payment from ARC.

“Easly Advances was a clear choice for us. Access to our accrued SR&ED reimbursements months in advance allowed us to accelerate product development and maintain momentum. We can decide when to deploy these funds, rather than waiting for an annual payment from the CRA,” said Lennie RyerChief Financial Officer and Vice President of Finance of Montrealtechnology based reaction dynamics. “Having continued access to non-dilutive funding is extremely valuable as we accrue SR&ED credits throughout the year.”

Easy Advances also allows businesses to leverage their total cash flow to obtain more funds, a process known as stacking. If a grant requires a 50% company contribution to qualify, then it is possible to use Easy Advances to advance an SR&ED reimbursement to increase the size of the contribution and therefore the size of the total grant.

About Easy:

Easy Solutions Corp. is a market leader in refundable investment tax credit and grant financing. Through its Capital-as-a-Service financing platform, Easly provides non-dilutive capital accessible to Canadian businesses of all sizes throughout the year by leveraging tax credit refunds and grants accumulated by a company. Anticipating the receipt of these funds allows companies to invest strategically in their growth without having to give up their equity.

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Veronica J. Snell