Type of Facility: SR&ED Financing
Days to Fund: 19
Use of Funds: This company has a seasonal business and therefore there are times of the year where there is little revenue but cash is needed to build inventory and other times where there is significant revenue. the SR&ED financing allowed the company to continue to invest in R&D and build inventory for multiple new distributions and sales channels.
Company Background: This company created a device that makes bike navigation easy, including adding lighting to be seen, an alarm, and a fitness tracker wrapped in one package.