Amount Financed: >$500K
Type of Facility: SR&ED Financing
Days to Fund: 21
Use of Funds: This company has long-term contract with automotive and other customers. Typically, there is a significant R&D investment to design and manufacture the solution needed. It can take 6 to 12 months of engineering, and up to 2 years before delivery of the first part. This is a perfect example of effectively using financing for a manufacturer with a large contract in hand that requires significant upfront investment.