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Can I finance a SR&ED tax credit if it
is the first time my company has applied to the
program?
TCE will finance a first time claim if the
submission was prepared by an arm’s length third
party such as a Consultant or Accounting firm.
TCE will not finance a first time submission
prepared by the taxpayer. |
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If the company has made previous
successful submissions, do we have to use a
third party Consultant/Accounting firm to
prepare the submission?
While TCE prefers third party preparation, we
will review a submission prepared directly by
the taxpayer if there is a successful track
record. |
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Will TCE finance a SR&ED tax credit for
a new business or a company that has lost money?
Yes. TCE is focused on purchasing the SR&ED tax
credit due from the Government. In most cases,
we can help even if your company is newly
established or has incurred operating losses to
date. |
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Will TCE finance a SR&ED tax credit if
the company already has Bank financing?
Yes. SR&ED Tax Credit financing can generally be
used in conjunction with your present Bank
financing. |
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How much will TCE advance against the
SR&ED tax credit?
TCE will advance 70% on both the federal and
provincial portions of the claim. The remaining
balance (known as a holdback) is returned to you
net of TCE fees once the payment has been
received from the government. |
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Is there an application fee?
There is no fee to apply. Once your
application has been approved, TCE will issue an
Expression of Interest Letter (EOI). Upon
acceptance of the EOI letter, TCE requires a
modest processing fee to conduct due diligence
and issue the final Terms Letter. Once the Terms
Letter is accepted, legal documents are prepared
and the facility is activated. |
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How long does it take to review my
financing application?
TCE will provide a decision with 48 hours of
receipt of a complete financing application
package. |
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Once the SR&ED tax credit is submitted,
how long does it take before the funds are
advanced?
Once the legal documentation is complete, funds
are advanced within 24 hours. |
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How does TCE assess its financing
charges?
TCE assesses its financing charges on a daily
basis. You will be charged for the actual number
of days that the SR&ED advance is outstanding
(from date of advance to receipt of payment).
There is a minimum financing term of 60 days. |
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What happens if the Government does not
pay?
Funds are advanced on a recourse basis. If the
Government does not pay or reduces the tax
credit, the client is responsible to reimburse
TCE for any funds owing. |
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Does TCE provide other types of
financing?
Yes. TCE provides Invoice Discounting, also
known as Accounts Receivable Factoring, which is
a financial transaction whereby a company
finances its invoices (accounts receivable). TCE
also provides facilities secured by inventory
and equity in fixed assets including real
estate. |
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Tell me about TCE Capital
Corporation.
TCE Capital is a private Canadian company
specializing in working capital financing. We
were established in 1992 and are located in
Toronto. TCE is a funder, not a broker, which
ensures that funding is available when required.
We fund more than $350 million annually. |
TCE Mission: To provide a 48 hour
decision to a financing request.
PROTECTING YOUR PRIVACY |
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At TCE Capital Corporation (“TCE”), we are
committed to protecting the privacy and security
of the personal information obtained from
you in connection with your relationship with
us. |
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Policies and Procedures have been designed to
comply with the Personal Protection and
Electronic Documents Act (PIPEDA). |
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The personal information we collect, and any
other personal information collected and
maintained in the course of an individual’s
interaction with TCE, will be used:
1. To confirm your identity and to obtain
specific credit information from public credit
agencies.
2. To provide you with important notices about
your relationship with TCE.
3. Generally, to provide you with the financial
products or services that you have requested. |
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TCE does not give, rent or sell our customer
information to any organization or individual
unless it is required to provide you with TCE
financial services, or when required by law. |
Click below to view and print entire Privacy
Policy (pdf document)
Privacy Policy |
Contact TCE Capital today at (800)
465-0400 for additional information on working
capital and cash flow funding programs available
through SR & ED Tax Credit Financing. |
