Financing your SR&ED tax credits was just the beginning

The cost of NOT having capital on a TIMELY basis can be catastrophic. And nobody is truly out of the woods, until they have exited.  So, at the very least, look past the seemingly-high cost (interest rate) and evaluate the bigger picture. Leave no stone unturned. OKR was unique in helping us bring forward money that we were otherwise not going to see for a very long time.  Priceless   🙂

The cost of development in a hardware startup is up front and significant and I had to make some very difficult decisions. Stagnate the growth of the company to save the funds required to cover the costs associated with obtaining the development grants the company required or leverage financing from OKR to keep the company moving forward and (successfully) putting Keeling In-Ear Monitors into the hands of paying customers.

With the CMF clock ticking down, we applied for approval from OKR, and were put in touch with Doug Saxon, who quickly became intrinsic to the formation of our project. From there, it was a breeze; the money arrived on time, Doug was always quick to reply to questions, and there were no surprises. Compared to the scenario we were facing at the bank; it was another world.

Although other ‘quick capital’ operations seemed to offer similar services, OKR were more accessible and easiest to work with of all. When my partner and I finally met Doug Saxon in person, he and Bhavik remembered our project in minute detail, their enthusiasm the kind of authentic support we would never have expected.