Company: Innovation Refunds, Des Moines, IA
Nomination Submitted by: Golin
Company Description: Innovation Refunds champions small and mid-size businesses and was established to facilitate their growth by democratizing access to working capital through government-issued refunds. Innovation Refunds has facilitated the return of more than $4B to more than 12,000 US-based businesses.
Nomination Category: Achievement Categories
Nomination Sub Category: Achievement in Customer Satisfaction
 Nomination Title: Innovations Refunds
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization's history and past performance (up to 200 words):
Total 200 words used.
In 2021, Innovation Refunds was established to facilitate the growth of small and mid-sized businesses (SMBs) by democratizing access to working capital through government-funded programs like the Employee Retention Credit (ERC).
Studies indicate the number of SMBs applying for ERC is well below those who are eligible – leaving billions of dollars unclaimed. Innovation Refunds believed that was due, in part, to the extensive process and requirements to determine eligibility. Historically, SMBs were required to hire a tax professional directly – incurring upfront costs – and spend time away from their business to find out if they were eligible.
Innovation Refunds knew there was a better way, and the company was built to disrupt the conventional model. Innovation Refunds created a marketplace of CPAs and other tax professionals who examine SMBs tax situations and determine eligibility – without any up-front costs. Clients only pay if they are qualified, file for the ERC, and receive a check from the government.
Over the last two years, Innovation Refunds has been advocating for SMBs – and the company’s customer satisfaction ratings, client testimonials and billions of dollars in ERC refunds back to SMBs is proof that the company is truly making a difference.
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the nominated organization's customer satisfaction achievements since the beginning of 2021, OR written answers to the questions? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video:
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2021 that you wish to bring to the judges' attention (up to 250 words):
Total 249 words used.
Innovation Refunds believes SMBs are the backbone of the American economy. The better they do, the better everyone does.
To date, Innovation Refunds has helped more than 12,000 SMBs receive more than $4 billion in refunds. In fact, a 3,400% increase in ERC cases filed in the past 12 months demonstrates more eligible customers are submitting claims thanks to the effectiveness of the disruptive business model.
To service this extreme growth, Innovation Refunds expanded its staff from 21 in 2021 to more than 1,030 today, ensuring the company can continue to support SMBs with the highest level of customer service. Innovation Refunds has a team of people who live the company’s core values and have a desire to challenge the status quo, fueling the company’s best-in-class support.
With its suite of customer-centric solutions, Innovation Refunds is reinventing how ERC claims are serviced and SMBs are supported thanks to:
- A brief eight-minute analysis process to determine if the SMB qualifies for the ERC
- No fees until the refund is received by the business owner
- 24/7 customer support that answers clients’ questions throughout the process
- A dedicated refund specialist assigned to each client
- Audit protection
This customer-centric approach has driven the company’s customer satisfaction rating.
Innovation Refunds has a 4.9-star rating on Trustpilot with hundreds of reviews and an A rating from the Better Business Bureau. Satisfied customers are what fuels growth, which, in the case of Innovation Refunds, means more SMBs get the capital they need.
- f you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 174 words used.
Pandemic ripple effects, inflationary pressures, and the growing threat of a recession have skyrocketed capital demands for SMBs, and Innovation Refunds is a welcome solution. Businesses can use the ERC refund in whatever way they see fit, be it to cover operating expenses, reward employees, create jobs, pay off debt, or build a safety net. This access, in today’s climate, could be the difference between surviving and going under.
A purposeful business strategy focused on gaining market share by building trust with key stakeholders has not only driven tremendous growth for the company but, most importantly, delivered billions of dollars back to more than 12,000 SMBs across the country.
One look at the dozens of client testimonials shows customers truly believe in the mission and are satisfied with the support they’ve received: https://www.innovationrefunds.com/testimonials.
At its core, Innovation Refunds understands the vitality of SMBs in the American economy. SMBs deserve every opportunity to flourish, so the economy can flourish – and Innovation Refunds aims to help make this happen every day.
- Optional: Reference here any attachments of supporting materials throughout this nomination and explain how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 185 words used.
Testimonials from satisfied clients from across industries: https://www.innovationrefunds.com/testimonials
Key media coverage demonstrating how Innovation Refunds continues to advocate, educate and champion for SMBs:
- “Howard Makler of Innovation Refunds On 5 Things You Need To Know To Successfully Scale Your Business,” Authority Magazine (March 2, 2023):
https://medium.com/authority-magazine/howard-makler-of-innovation-refunds-on-5-things-you-need-to-know-to-successfully-scale-your-10770a8380c
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