Vancity to Introduce SR&ED Financing Loans

Canadian businesses rely on Canada’s Scientific Research and Experimental Development tax credit program to help share the risk of developing innovative new goods and services – and to remain competitive in an increasingly competitive global economy.

While the incentive is welcome, funding only arrives after-the-fact, once a company’s tax return has been filed and assessed. Typically this means that the incentive is received more than 18 months after the company begins spending money. In order to help companies bridge that funding gap, Vancity is proposing to lend against the tax credit, in the year the work is being done.

I had the opportunity to work with Paul Harding Stewart – a manager within the community business lending group – to help identify areas of risk. Mr. Stewart asked me to share Vancity’s FAQs with interested companies in the Lower Mainland and Southern Vancouver Island…