Kashcade advances your R&D Tax Incentive refund, giving you working capital today without giving up equity.
An R&D loan allows your company to access its expected Research & Development Tax Incentive (R&DTI) refund before tax time. Also called R&D financing or an R&D advance, it works as a short-term business loan secured against a company's expected R&DTI refund.
Rather than waiting up to 18 months for the ATO to process your annual claim, you borrow against the refund you've already accrued, get cash now - and repay when the refund arrives. For most Australian startups, the gap between spending on R&D and receiving your refund can be 9 to 18 months.
During that time, you effectively have a cash refund you're eligible for sitting with the ATO, but you just can't access it. An R&D loan reclaims that capital - so you can keep building instead of waiting.
Three reasons to bring forward your refund and keep building without dilution.
Keep your cap table strong by accessing finance that doesn't further dilute your equity and immediately gives you cash flow.
Unlike regular debt, repayment isn't tied to future performance, like revenue. It's tied to an R&D refund you'll be receiving later.
No monthly repayments eating into your runway. Just a single repayment at term end, paid directly from your R&D refund.
Different stages, different problems - but the same answer.
Access capital by bringing forward the R&D refund you're already eligible for.
Runway extension
Bring forward your R&D refund to buy the months you need to hit a stronger milestone - before you negotiate your next term sheet.
Reinvest in product
Draw down your refund early and reinvest it. Every dollar back into engineering grows your eligible spend - and your refund next year.
Bridge financing
A non-dilutive bridge that keeps the team whole and the product shipping - without forcing a priced round you're not ready for.
Protect valuation
Access capital you've already earned through R&D activity, rather than raise new equity at a discount to last round.
Scale with spend
Unlock funds monthly as your eligible R&D spend grows. Your facility scales alongside your engineering investment - no need to re-apply.
Chat with our R&D experts & share some info using our online platform
Receive an offer for up to 100% of your accrued R&D refund in 24-48hrs
Draw on funds, then unlock more as your refund grows, monthly.
Only repay funds after EOFY with your refund from the ATO
We have just completed some funding via Kashcade and it was completed quickly and easily.
Absolutely painless. This is how lending should be done!
Graham Burdis
CFO, Algenie
The team were able to review and approve our application within 24hrs of applying. Great assistance and upfront on the terms and conditions. Highly recommend other startups chat with the team.
Philip Valencia
CEO & Cofounder, Embeint
I had the pleasure of working with the Kashcade team to secure a loan against our R&D tax incentive. From first contact to cash in bank was about 24hrs. The Kashcade team couldn't have been more responsive, helpful, and nice to work with.
Sam Wenger
CEO, Aerate
The team at Kashcade have been outstanding. Every commitment was met with excellent communication and seamless processes throughout. Doing business with Kashcade could not have been easier. A clear 10 out of 10.
Stu Cameron
CEO & Founder, Unifi
We've worked with Kashcade now for a number of years. The team is always professional, easy to work with and flexible. Straight forward process with a very quick turnaround time. Many thanks to the Kashcade team for their support.
Beth Fitzpatrick
Head of Commercial, Emmi
Have you received a refund before under the R&D Tax Incentive?
Will your R&D offset be a cash refund?
Are you working with an R&D Tax Advisor?
Will you have 3 months of runway?
If your answer to these questions is 'Yes', apply now!
If not, get in touch with our team who can discuss your options in more detail
How much can I borrow with an R&D advance from Kashcade?
Kashcade advances up to 100% of your accrued R&D Tax Incentive refund. For example, if your expected refund is $500,000, we can fund $500,000 in 24-48hrs instead of waiting until after the financial year to access your refund. How much you can borrow depends on the time of year and individual credit application, which is subject to approval.
When do I repay my R&D advance?
Your R&D advance is repaid in a single instalment, in line with when the ATO is expected to pay out your R&D refund - typically after you lodge your company tax return post EOFY. There are no monthly repayments during the loan term.
What is the difference between an R&D loan and an R&D refund?
An R&D loan is a short-term advance against your existing R&D Tax Incentive refund. It's repaid in line with when the ATO processes your refund. An R&D refund is a government cash payment provided to eligible businesses for money they spent on eligible research and development activities, and does not need to be repaid. Kashcade specialises in R&D loan financing, not providing or helping you claim grants.
Do I need to be profitable to get an R&D loan?
No. Many of our customers are not yet profitable and that's ok, because R&D loans are secured against your expected R&DTI refund rather than your revenue. Pre-revenue and loss-making startups are commonly eligible. The refundable R&DTI offset specifically benefits companies that are in a tax loss position.
Do I need an R&D tax advisor to apply?
You won't need an R&D advisor to apply, however, you'll need one in order to access an R&D loan. You'll also need documentation confirming your last AusIndustry registration and a breakdown of your year-to-date R&D expenditure and refund value. If you don't currently work with an R&D tax advisor, Kashcade can connect you with our partner network.
Do I need to provide a personal or directors guarantee?
No - Kashcade does not require personal or director guarantees because the loan is secured directly against the government R&D Tax Incentive refund itself. However, policies vary by lender.
How is my funding limit determined?
We can fund up to 100% of the refund you've accrued in the first 9 months of your financial year.
That moves to 80% for the full financial year. E.g. If the refund you've accrued in July through March is $100k, we can lend $100k (100%).
If the refund you've accrued July through June totals $130k, we can lend $104k (80%).
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