Type of Facility: SR&ED Financing
Days to Fund: 17
Use of Funds: The company needed to hire more people in both business development and engineering. Because their solution appeals to multiple industries, the market potential is enormous but so is the cost of scaling the revenue. The bridge loan was provided with multiple draws and has helped the company manage cash flow while hiring more people.
Company Background: This company delivers enterprise-grade cloud spaces. While traditionally a cloud migration can take almost 24 months, today these guys can deliver an environment in less than 24 hours.