Frequently asked questions
What is Advance Funding of SR&ED tax credits?
The SR&ED tax credit is a government incentive that entitles companies a cash refund on eligible expenditure. Fundsquire can advance up to 80% of a future SR&ED tax credit refund.
What is Grant Advance Funding?
Fundsquire can provide up to 90% of future grant payments or milestones as a simple loan to be repaid with the grant payment. Fundsquire can only offer funding to companies with approved grants.
What is Revenue Based Finance?
Fundsquire can provide up to 4x MRR to companies with a track record of revenue generation, to be spent on business growth. Speak to our team about our transparent pricing and repayments model.
Why should I choose Fundsquire?
We’ve provided $110m+ AUD in funding to more than 250 companies in Australia, the UK and Canada…and we do it by taking the time to personally understand your business, technology and vision. We value people, first and foremost, and continually work to deliver value personally to our clients.
Do you take personal guarantees?
No, we do not take personal guarantees and offer founder friendly terms.
I’ve paid the first part of the facility fee – is it refundable?
Our upfront fee is refundable if Fundsquire declines the loan for any reason. The fee is non-refundable if the client chooses not to proceed after going through our credit process.
When is the rest of the facility fee paid?
The rest of the facility fee, as well as any accrued interest (if applicable), is all paid on repayment of the loan. There are no monthly payments.
Where does the funding come from?
Fundsquire has an exclusive agreement with Fasanara Capital, who provides our lending facility.
What companies qualify for the SR&ED tax credit?
Companies making investments in research technology or scientific advancement generally qualify.
What are the application criteria for Fundsquire’s SR&ED tax credit loans?
Fundsquire’s requires companies to have a future SR&ED tax credit greater than $75,000.
The simplest and fastest way to apply is via our customer portal and application, which will ask you to connect your accounting and banking platforms. Manual upload of financial information is also available.
How long does the application process take?
How long does the application process take?
The application and credit check process typically takes 10 business days, however this does fluctuate with the complexity of your company's financial position, and how fast you can provide the required information.
How much can I borrow?
Fundsquire offers from $40,000 to $1m in funding. Higher amounts are negotiable on a deal-by-deal basis.
How much of the future claim can you lend?
Fundsquire offers up to 80% of the future SR&ED tax credit.
What sectors do you lend to?
Any company eligible for an SR&ED tax credit refund can be eligible for Fundsquire SR&ED tax credit loan.
What security do you take?
We take a General Security Interest, and a 1st ranking SR&ED priority when applicable.
Must my business be profitable?
No, we work with many pre-profit, and even pre-revenue companies.
What happens post-funding?
Once the loan has been approved, we monitor it through monthly check-ins and updated documentation. This continues until the loan is repaid by the CRA.
How do I repay the loan?
The interest and principal is paid off when you receive the refund from the CRA. Any remaining balance from your CRA refund will be transferred directly into your bank account.
Can I repay early?
Yes, and there is no penalty in early repayment.
Our business has a registered security (lien) already, does that exclude us from qualifying?
This is not a deal-breaker, but we will have to get a SR&ED priority agreement signed by your other debtor.
Do I need to work with an SR&ED Tax Credit advisor?
No, provided that you can demonstrate a strong history of SR&ED claims, knowledge and expertise within the business.
Do I need to change my SR&ED Tax Credit advisor?
No, we work with most SR&ED tax credit advisors.
What happens if the SR&ED Tax Credit claim is delayed?
We work with our clients closely during any delays or reviews, and set up a reasonable payment schedule in case of further delays.
What happens if the SR&ED Tax Credits claim is not paid?
If the CRA amends the claim size or in the extreme case that claim is not paid out, we work with the client to create a reasonable repayment schedule. Yes, you will still be required to repay the loan.
What are the application criteria for Fundsquire’s Grant Advance Funding?
Businesses that have received or have been approved for most Canadian federal and provincial government grants are eligible. The simplest and fastest way to apply is via our customer portal and application, which will ask you to connect your accounting and banking platforms. Manual upload of financial information is also available.
How long does the application process take?
The application and credit check process typically takes 10 business days, however this does fluctuate with the complexity of your company's financial position, and how fast you can provide the required information.
How much can I borrow?
Fundsquire offers from $40,000 to $1m in funding. Higher amounts are negotiable on a deal-by-deal basis.
What sectors do you lend to?
We lend to any business that has an approved government business grant.
Must my business be profitable?
No, we work with many pre-profit, and even pre-revenue companies.
Post-funding, what happens?
Once the loan has been approved, we monitor it through monthly check-ins and updated documentation. This continues until the loan is repaid upon payment from the grant body.
Can I repay early?
Yes, and there is no penalty in early repayment.
Do I need to work with a grant advisor?
Though you do not need to work with a grant advisor, many services offer support with grant applications, including creating grant proposals and grant management.
What are the application criteria for Fundsquire’s Revenue Based Financing?
We can lend to any business that has had at least 6 months of revenue. We take all forms of revenue into consideration, without a restriction on revenue streams. The simplest and fastest way to apply is via our customer portal and application, which will ask you to connect your accounting and banking platforms.
How long does the application process take?
The application and credit check process typically takes 10 business days, however this does fluctuate with the complexity of your company's financial position, and how fast you can provide the required information.
How much can I borrow?
We offer loans starting at $25K.
Must my business be profitable?
No, we work with many pre-profit businesses.
What happens post funding?
Once the loan has been approved, we monitor your business through our platform and data connections. This continues until the loan is repaid.
How do I repay?
We charge a small, fixed percentage fee. Repayment fluctuates monthly with your revenue.
Does the repayment percentage change?
Our goal is to stick to our original estimated percentage share of revenue for repayment. Any adjustments may have to be made on a deal-by-deal basis for extenuating circumstances.
How long is the repayment period?
The total time to repay depends on your future monthly revenue and the agreed percentage.
What can I use my funds for?
100% of your capital is available for you to use once approved. You can use the funding as needed for sales, inventory management and marketing.
Can I repay early?
Yes, and there is no extra fee.