Francophone economic development in British Columbia
Highlights
This program is designed specifically for Francophone business owners in British Columbia. It offers a range of services to help your business thrive. By applying, you can access training, business development support, and marketing advice tailored to your needs.
What You Get:
- Access to capital for your business
- Networking and mentoring opportunities
- Information services to keep you informed
- Community economic development support
This program stands out because it is backed by PacifiCan, ensuring you receive reliable and comprehensive support. Approval is straightforward, making it easier for you to qualify and benefit from these resources. This support can significantly enhance your business operations and growth.
Financing Details
Type of Financing: Grant
Repayment Terms:
- No repayment required.
Eligible Expenses:
- Training and development programs.
- Business and community economic development activities.
- Marketing and promotional activities.
- Access to capital initiatives.
- Information services.
- Networking and mentoring programs.
Use of Funds:
- Funds cannot be used for personal expenses.
- Funds cannot be used for unrelated business activities.
Fees:
- No fees associated with the program.
Qualifications
- Must be a Francophone business.
- Must be located in British Columbia.
- Must be part of an official language minority community (OLMC).
Disqualifications:
- Businesses not located in British Columbia.
- Non-Francophone businesses.
Description
This program offers your business up to $1,000,000 in funding. You can use up to $500,000 of this amount to buy equipment or improve your rented space.
Eligible expenses include:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Renovating a retail space
For other costs like software or working capital, you can receive up to $150,000.
Key benefits include:
- 85% of the loan is guaranteed by the federal government, providing a strong safety net.
- Flexible repayment options: Choose between a variable interest rate, a fixed rate, or a combination of both.
- Up to 15 years to repay the loan, regardless of what you spend it on.
This program is designed to support your business growth and stability.
Program Steps
Gather Required Documentation: Prepare the necessary documents for your application. You will need:
- Business plan
- Financial statements (past three years)
- Proof of business registration
- Identification documents for business owners
- Details of intended use of funds
Visit the SDEBC Website: Go to the Société de développement économique de la Colombie-Britannique (SDEBC) website to access the application form and guidelines.
Complete the Application Form: Fill out the application form with accurate and detailed information about your business and the support you are seeking.
Submit the Application: Send your completed application form and all required documentation to the SDEBC office. You can submit it via email, fax, or mail.
Contact SDEBC for Assistance: If you have any questions or need help with the application, contact SDEBC at 1-877-732-3534 (toll-free) or 604-732-3534 (Vancouver area).
Review and Follow-Up: After submission, SDEBC will review your application. Be prepared to provide additional information if requested. Follow up with SDEBC to check the status of your application.
Receive Support and Services: Upon approval, you will receive the support and services outlined in your application, including training, business development assistance, and access to capital.