Amount Financed: >$500k
Type of Facility: SR&ED Financing
Days to Fund: 18
Use of Funds: After receiving contracts from European car manufacturers and electric car companies, there was a need to invest heavily in R&D to ensure that the products are the best in the world. In the world of automobile manufacturing, any defect could lead to costly recalls. The SR&ED financing is being used to invest heavily in R&D to fulfill the new contracts signed by this great Canadian manufacturer.
Company Background: This company specializes in large scale automotive sealing for convertible and panoramic roof systems – including molding, flocking, testing, and packaging.