ontario-measurement-tool-developer-201803
Project Description:
Amount Funded: $100,000
Amount Funded: $100K - $250K
Industry: Manufacturing
Province: Ontario
Type of Facility: SR&ED Financing
Days to Fund: 21
Use of Funds: This company invested heavily in R&D, and it's costly because of the level of innovation. As a result, this company took longer than expected to develop its devices. After receiving feedback from its beta testing sites, additional rework on its device was needed. However, the funds from its seed investors and the government were running out, and the company needed to bridge its fiscal gap.
As a result, Venbridge provided this company with a bridge loan to help it continue to develop its product and deliver an excellent solution to its clients.
Company Background: This provider of advanced measurement solutions for factories – Their tool allows for measurement of wall thickness of plastics with the push of a button.
