{"id":996,"date":"2019-09-13T10:38:06","date_gmt":"2019-09-13T10:38:06","guid":{"rendered":"https:\/\/swoopfunding.com\/ie\/?p=996"},"modified":"2024-06-13T14:53:34","modified_gmt":"2024-06-13T14:53:34","slug":"what-are-rd-tax-credit-loans","status":"publish","type":"blog","link":"https:\/\/swoopfunding.com\/ie\/blog\/what-are-rd-tax-credit-loans\/","title":{"rendered":"What are R&#038;D tax credit loans?"},"content":{"rendered":"\r\n<p><strong>What are R&amp;D tax credit loans?<\/strong><\/p>\r\n\r\n\r\n\r\n<p>Here at Swoop, we love uncovering the numerous and varied funding options available to support small businesses. A particular favourite right now is a relatively new type of funding &#8211; R&amp;D tax credit loans.<\/p>\r\n\r\n\r\n\r\n<p>The team here at Swoop has seen a significant increase in the number of calls from companies experiencing delays in receiving R&amp;D payments from HMRC.\u00a0We understand how these delays in predicted funds into an SME can have major knock-on effects.<\/p>\r\n\r\n\r\n\r\n<p><strong>What are the benefits of R&amp;D tax credit loans<\/strong><\/p>\r\n\r\n\r\n\r\n<p>Swoop works with a number of providers who are able to advance funds against your R&amp;D tax claims. The providers we work with all have different criteria, so our system will assess the most suitable option for you and your business. The benefits are numerous:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Low risk, so attractively low rates<\/li>\r\n<li>Fast and efficient service\u00a0<\/li>\r\n<li>We generally make introductions the day we receive your enquiry\u00a0<\/li>\r\n<li>History of claims increases lenders\u2019 appetites to advance earlier \u2013 so future benefits<\/li>\r\n<li>No charge from Swoop<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p><strong>Am I eligible for an R&amp;D Tax credit loan?<\/strong><\/p>\r\n\r\n\r\n\r\n<p>To be eligible for an R&amp;D tax credit loan you must, of course, also be eligible for an R&amp;D tax relief. You are eligible if your SME has:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>fewer than 500 employees<\/li>\r\n<li>a revenue of under \u20ac100m or a balance sheet total under \u20ac86m<\/li>\r\n<li>based in Ireland<\/li>\r\n<li>has a significant amount of R&amp;D expenditure &#8211; according to HMRC, R&amp;D for tax purposes is a project which \u201cseeks to achieve an advance in science or technology\u201d. R&amp;D is still deemed to have taken place whether or not the project goes on to be successful; it\u2019s the attempt that counts.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>For more information on R&amp;D tax credits read our blog\u00a0<a href=\"https:\/\/swoopfunding.com\/ie\/blog\/rd-tax-credits-simply-explained-by-swoop\/\"><strong>R&amp;D tax credits simply explained by Swoop.<\/strong><\/a><\/p>\r\n\r\n\r\n\r\n<p><strong>What type of small business is best suited to R&amp;D tax credit loans?<\/strong><\/p>\r\n\r\n\r\n\r\n<p>This type of funding solution is especially suitable for small businesses with a need to access funds from their R&amp;D claim immediately in exchange for paying an interest rate &#8211; rather than waiting for the claim to be processed. As we know, HMRC can take months to process these claims.\u00a0\u00a0<\/p>\r\n\r\n\r\n\r\n<p>Also, for a small businesses in its early stages where alternative funding options are more limited due to cost, this is an obvious choice.\u00a0<\/p>\r\n\r\n\r\n\r\n<p>R&amp;D tax credit loans are also perfect for the small businesses looking to avoid equity funding and giving away shares in their company.\u00a0<\/p>\r\n\r\n\r\n\r\n<p><strong>What is the key benefit of a R&amp;D tax credit loan<\/strong><\/p>\r\n\r\n\r\n\r\n<p>Although R&amp;D tax credits are a great way of funding your business and getting expenditure back in the form of a tax credit, there is one major issue which the R&amp;D tax credit loan solves &#8211; the speed at which the funds can be accessed. When making your R&amp;D claim you need to wait until your company\u2019s financial year comes to an end before you can prepare the accounts and file for the R&amp;D tax credit. Once the application is submitted, you must then wait an additional 6-12 weeks for the R&amp;D tax credit to be processed and paid by HMRC.\u00a0<\/p>\r\n\r\n\r\n\r\n<p>However, with the R&amp;D tax credit loan, the length of the process is heavily reduced. On average, it takes around 2-4 weeks from the first conversation with the lender to the loan agreement.\u00a0<\/p>\r\n\r\n\r\n\r\n<p><strong>Apply for funding now<\/strong><\/p>\r\n\r\n\r\n\r\n<p>If the R&amp;D tax credit loan sounds like the perfect type of funding for your business, then\u00a0<a href=\"https:\/\/swoopfunding.com\/ie\/team\/\">contact the team<\/a> at Swoop and we will happily assist you on your funding journey, and match you with the best loan providers in Ireland.\u00a0<\/p>\r\n\r\n\r\n\r\n<p><a href=\"https:\/\/ireland.swoopfunding.com\/get-started\">Click here to get registered with one simple form.<\/a><\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>What are R&amp;D tax credit loans? Here at Swoop, we love uncovering the numerous and varied funding options available to support small businesses. A particular favourite right now is a relatively new type of funding &#8211; R&amp;D tax credit loans. The team here at Swoop has seen a significant increase in the number of calls [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4783,"comment_status":"closed","ping_status":"closed","template":"","category":[1362,1369],"class_list":["post-996","blog","type-blog","status-publish","has-post-thumbnail","hentry","category-funding-resources","category-rd-tax-credits"],"acf":[],"featured_image_urls_v2":{"full":["https:\/\/swoopfunding.com\/ie\/wp-content\/uploads\/sites\/6\/2020\/05\/andrew-neel-cckf4TsHAuw-unsplash-980x460-1.jpg",980,460,false],"thumbnail":["https:\/\/swoopfunding.com\/ie\/wp-content\/uploads\/sites\/6\/2020\/05\/andrew-neel-cckf4TsHAuw-unsplash-980x460-1-150x150.jpg",150,150,true],"medium":["https:\/\/swoopfunding.com\/ie\/wp-content\/uploads\/sites\/6\/2020\/05\/andrew-neel-cckf4TsHAuw-unsplash-980x460-1-300x141.jpg",300,141,true],"medium_large":["https:\/\/swoopfunding.com\/ie\/wp-content\/uploads\/sites\/6\/2020\/05\/andrew-neel-cckf4TsHAuw-unsplash-980x460-1-768x360.jpg",768,360,true],"large":["https:\/\/swoopfunding.com\/ie\/wp-content\/uploads\/sites\/6\/2020\/05\/andrew-neel-cckf4TsHAuw-unsplash-980x460-1.jpg",980,460,false],"1536x1536":["https:\/\/swoopfunding.com\/ie\/wp-content\/uploads\/sites\/6\/2020\/05\/andrew-neel-cckf4TsHAuw-unsplash-980x460-1.jpg",980,460,false],"2048x2048":["https:\/\/swoopfunding.com\/ie\/wp-content\/uploads\/sites\/6\/2020\/05\/andrew-neel-cckf4TsHAuw-unsplash-980x460-1.jpg",980,460,false],"image_blog":["https:\/\/swoopfunding.com\/ie\/wp-content\/uploads\/sites\/6\/2020\/05\/andrew-neel-cckf4TsHAuw-unsplash-980x460-1-408x252.jpg",408,252,true],"image_podcast":["https:\/\/swoopfunding.com\/ie\/wp-content\/uploads\/sites\/6\/2020\/05\/andrew-neel-cckf4TsHAuw-unsplash-980x460-1-397x298.jpg",397,298,true],"image_banking":["https:\/\/swoopfunding.com\/ie\/wp-content\/uploads\/sites\/6\/2020\/05\/andrew-neel-cckf4TsHAuw-unsplash-980x460-1-43x20.jpg",43,20,true],"image_blog_internal":["https:\/\/swoopfunding.com\/ie\/wp-content\/uploads\/sites\/6\/2020\/05\/andrew-neel-cckf4TsHAuw-unsplash-980x460-1-840x460.jpg",840,460,true],"image_blog_medium":["https:\/\/swoopfunding.com\/ie\/wp-content\/uploads\/sites\/6\/2020\/05\/andrew-neel-cckf4TsHAuw-unsplash-980x460-1.jpg",980,460,false],"image_single_banking":["https:\/\/swoopfunding.com\/ie\/wp-content\/uploads\/sites\/6\/2020\/05\/andrew-neel-cckf4TsHAuw-unsplash-980x460-1-80x38.jpg",80,38,true]},"post_excerpt_stackable_v2":"<p>What are R&amp;D tax credit loans? Here at Swoop, we love uncovering the numerous and varied funding options available to support small businesses. A particular favourite right now is a relatively new type of funding &#8211; R&amp;D tax credit loans. The team here at Swoop has seen a significant increase in the number of calls from companies experiencing delays in receiving R&amp;D payments from HMRC.\u00a0We understand how these delays in predicted funds into an SME can have major knock-on effects. What are the benefits of R&amp;D tax credit loans Swoop works with a number of providers who are able to&hellip;<\/p>\n","category_list_v2":"<a href=\"https:\/\/swoopfunding.com\/ie\/category\/funding-resources\/\" rel=\"category tag\">Funding resources<\/a>, <a href=\"https:\/\/swoopfunding.com\/ie\/category\/rd-tax-credits\/\" rel=\"category tag\">R&amp;D tax credits<\/a>","author_info_v2":{"name":"root","url":"https:\/\/swoopfunding.com\/ie\/author\/root\/"},"comments_num_v2":"0 comments","_links":{"self":[{"href":"https:\/\/swoopfunding.com\/ie\/wp-json\/wp\/v2\/blog\/996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/swoopfunding.com\/ie\/wp-json\/wp\/v2\/blog"}],"about":[{"href":"https:\/\/swoopfunding.com\/ie\/wp-json\/wp\/v2\/types\/blog"}],"author":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/ie\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/ie\/wp-json\/wp\/v2\/comments?post=996"}],"version-history":[{"count":2,"href":"https:\/\/swoopfunding.com\/ie\/wp-json\/wp\/v2\/blog\/996\/revisions"}],"predecessor-version":[{"id":33456,"href":"https:\/\/swoopfunding.com\/ie\/wp-json\/wp\/v2\/blog\/996\/revisions\/33456"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/ie\/wp-json\/wp\/v2\/media\/4783"}],"wp:attachment":[{"href":"https:\/\/swoopfunding.com\/ie\/wp-json\/wp\/v2\/media?parent=996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swoopfunding.com\/ie\/wp-json\/wp\/v2\/category?post=996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}