MONTREAL, QUEBEC--(Marketwired - Feb. 9, 2017) - The Quebec Technology Association (AQT) wishes to announce a $20 M recapitalization of its tax credit financing fund. Financed by FINALTA CAPITAL, this fund is fully dedicated to supporting AQT-member small and medium businesses (SMBs) throughout the province, and aims to reduce the impact of reimbursement delays experienced by companies who qualify for various tax credit programs, including those relating to scientific research and experimental development (SR&ED), e-business development (DEB), and the production of multimedia titles. The available financing contributes to stabilizing the working capital of the AQT's member companies.
This constitutes the AQT Financing Fund's third recapitalization since its creation in 2014. In addition to mitigating tax credit reimbursement delays, the Fund has proven efficient in an environment where increasingly short economic cycles require companies to rapidly reinvest in development and go-to-market activities. Moreover, a special feature of the Fund is that it takes into account anticipated claims for the current fiscal year, a remarkable tactical advantage for firms attempting to keep pace with rapidly-evolving markets.
"Despite government improvements in reducing delays in tax credit reimbursements, it appears the market is dictating that our ICT firms demonstrate greater financial agility," states Nicole Martel, President and CEO of the AQT. "In this regard, the AQT Fund is considered a highly relevant and useful tool by our member companies."
"Created in late 2014, the AQT Fund was intended to allow ICT firms to spring into action rather than wait for tax credit refunds. After two years, the Fund - which has already disbursed over $30 million in support of AQT members - has become a development accelerator which enables businesses to rapidly bring their technology to market, a factor which certainly accounts for its tremendous popularity," notes Maxime-Jean Gérin, President and CEO of FINALTA CAPITAL.
To learn more about the Fund and its eligibility requirements, please follow this link.
About the AQT
The Quebec Technology Association (AQT) contributes to the influence of Quebec's ICT industry companies as well as the growth of this economic sector. With its 500-strong membership, the AQT unites and supports ICT industry leaders by fostering skill development, business performance enhancement, and the advancement of commercial practices within the industry. A non-profit, self-funded organization, the AQT acts as a representative and public advocate for the industry, and is now Quebec's largest ICT business network. To learn more, please visit the AQT website.
About FINALTA CAPITAL
Established in 2007, in 2012 FINALTA CAPITAL became a subsidiary of Groupe Centria, one of the largest specialized lenders in the residential construction industry. Drawn from an institutional background, the company's management team provides a robust and transparent financial framework, while its streamlined structure allows for expedient, straightforward processes without surprises. With access to significant capital, FINALTA CAPITAL can offer financing loans ranging from $250,000 to $6 M. To learn more, please visit the FINALTA CAPITAL website.