Accelerated access to funds for companies awaiting SR&ED tax credits and government grant funding
Toronto, ON – Global consulting firm, Ayming Canada, a company helping businesses claim SR&ED tax credits and government funding through federal and provincial grants, now has access to OKR Financial’s $150 million fund through their strategic partnership. OKR Financial is a private debt fund that offers non-dilutive financing for companies looking to access R&D tax credits and grant funding.
With this new $150M fund, Ayming’s clients will have the ability to access their funding within a matter of weeks, instead of waiting for government agencies to process their SR&ED claims or grant applications in order to receive money.
“The COVID-19 pandemic has had a profound impact on many companies and several have asked Ayming help them get access to their SR&ED or grant funding immediately, versus having to wait for the government processing times which in many cases can be months.” – Harry Singh, President & Partner, Ayming Canada
In Canada, the Scientific Research & Experimental Development (SR&ED) Tax Credit Program offers some of the most lucrative tax refunds in the world, providing over $3 billion to 20,000+ businesses annually. Administered through the Canada Revenue Agency (CRA), this tax incentive provides refunds for companies performing Research & Development (R&D) work in Canada.
In addition to SR&ED which comes in the form of a tax refund, the federal and provincial governments allocate billions of dollars in the form of non-repayable grants and interest-free loans. Their main objective is to facilitate growth and prosperity in the economy by encouraging investments and continuous innovation in Canada.
Companies who need immediate access to these government receivables often realize how challenging it can be to receive financing in order to complete the work required to receive funding. This $150M fund was launched to support all companies, but especially early-stage businesses and start-ups who are looking to grow and innovate and need access to funding as soon as possible.
“Working strategically with Ayming Canada, we are excited to assist and facilitate many more companies to grow, scale and exit, by providing non-dilutive solutions and a pathway to equity investment via the OKR Financial ecosystem.” – Bhavik Chauhan, VP Business Development and Marketing, OKR Financial Canada
Ayming, a trusted national leader when it comes to government funding, has worked with thousands of companies of all stages and secures over $1.5 billion for its clients annually. Their senior team of SR&ED and grant consultants in Canada boast over 250 years of combined experience and are well-positioned to help companies of any size or geography across Canada secure lucrative funding for their future innovation and growth needs. As the first Canadian firm to establish a grant practice nationally, Ayming knows the grants landscape and knows what it takes to maximize subsidies. Their proprietary database of grant programs, powered by artificial intelligence (AI), has live access to thousands of both federal and provincial grants. Ayming’s expertise, coupled with OKR Financial’s capital to lend against incoming funding, makes this a truly powerful partnership.
“If you are curious about how we can help your business secure every eligible dollar of grant and SR&ED funding that you are entitled to, or if you simply want to get access to your funding today, then I encourage you to reach out to us immediately. You just may be surprised at how much money you have been missing out on. “ – Harry Singh, President & Partner, Ayming Canada
For more information on Ayming Canada or how our services can support your business growth, please visit https://www.ayming.ca