A New Platform Enables Technology founders to Access Their SR&ED Refunds Powered by Artificial Intelligence
Toronto, August 16, 2021 – Venbridge, a leading provider of growth loans to Canadian technology companies seeking an alternative to raising equity, today announces the launch of the Growth Capital solution with the Business Improvement Group (BIG). The platform enables technology companies to access their SR&ED tax credits as part of their claim preparation process through their SR&ED consultant and provides loan approvals with a proprietary artificial intelligence-powered assessment system that utilizes Venbridge’s data vault to evaluate risk.
“This automated approach makes it incredibly simple for anyone to apply for a credit facility within 15 minutes,” said Garron Helman, CEO of Venbridge. “With this platform, we can ensure that all tech founders have the cash they need to accelerate their companies growth while staying in charge.” Helman added.
After over a decade of funding Canadian SMEs, Venbridge is utilizing its wealth of data to provide smarter loans. The platform is designed to be used by SR&ED consultants to provide their clients with a full suite of SR&ED consulting and financing. It seamlessly integrates into their workflow to provide an amazing user experience for their clients.
The platform launches today with the Business Improvement Group, a national leader in tax credit and grant consulting. “We’re ecstatic to be working with the Business Improvement Group,” said Helman. “In today’s economy, our clients have to be innovative with financing strategies to take advantage of growth opportunities,” said Brian Hartman, President of the Business Improvement Group. “Partnering with Venbridge allows our clients to access growth capital without diluting their equity position,” added Hartman.
Entrepreneurs can now confidently focus on scaling their companies while banking on quarterly cash instalments to boost their cash flow with no monthly interest, disbursement or withholding fees. The loan adds a small amount to the consulting contingency fee, saving founders time and headspace without diluting their equity.
Venbridge is the leading venture debt provider in Canada. Venbridge offers cost-efficient, non-dilutive financing to technology companies backed by SR&ED and recurring revenue. Venbridge’s SR&ED financing allows founders to maximize their government tax incentives, better manage cash flow, and invest in the areas they need.
For more information about Venbridge, please visit www.venbridge.com
About Business Improvement Group (BIG)
Business Improvement Group is one of the largest, full-service Scientific Research and Experimental Development (SR&ED) and Ontario Interactive Digital Media Tax Credit (OIDMTC) consulting firms in Canada with over 10,000 successful projects approved by Canada Revenue Agency (CRA) at a success rate of over 98%.
For more information about BIG, please visit www.busimpgroup.ca