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Highlights
This program is designed for businesses like yours, offering a unique opportunity to secure financing that can significantly boost your operations. You can receive up to $1,000,000 in financing, with an additional $150,000 available for software or daily operating costs. This funding can be used for a variety of needs, including operating expenses, restorations, new equipment, and software.
What sets this program apart is its government backing, which provides you with more flexible repayment options compared to traditional loans. You can choose how to pay it back, with terms extending up to 15 years. This flexibility can help you manage your cash flow more effectively and invest in growth opportunities without immediate financial pressure.
Qualifying for this program is straightforward, making it an accessible option for your business. Being approved can provide the financial support you need to thrive and expand, ensuring your business remains competitive and resilient.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- Repayment Term: Up to 10 years.
- Interest Rate: Fixed rate of 4% per annum.
Eligible Expenses:
- Purchase of new or used equipment.
- Leasehold improvements.
- Working capital.
- Intangible assets such as patents and trademarks.
Ineligible Expenses:
- Real estate purchases.
- Refinancing existing debts.
- Personal expenses or non-business-related costs.
Fees:
- Application Fee: $150, non-refundable.
- Processing Fee: 1% of the loan amount, deducted from the loan disbursement.
- Late Payment Fee: 2% of the overdue amount per month.
Qualifications
- Must be located in Quebec.
Must be in one of the following regions:
- Abitibi-Témiscamingue
- Bas-Saint-Laurent
- Capitale-Nationale
- Centre-du-Québec
- Chaudière-Appalaches
- Côte-Nord
- Estrie
- Gaspésie-Îles-de-la-Madeleine
- Lanaudière
- Laurentides
- Laval
- Mauricie
- Montérégie
- Montréal
- Nord-du-Québec
- Outaouais
- Saguenay-Lac-Saint-Jean
- Must be a business or local project supported by SADC or CAE.
Must be involved in innovative projects contributing to economic development.
Disqualifications:
- Businesses not located in Quebec.
- Businesses not supported by SADC or CAE.
- Businesses not involved in innovative projects.
Description
This program provides up to $500,000 to help your business grow. You can use this money to buy new equipment, improve your workspace, or cover other essential expenses.
Eligible uses include:
- Purchasing machinery or technology
- Renovating your business premises
- Covering operational costs
The program offers favorable terms. You can take up to 10 years to repay the loan. This gives you plenty of time to invest in your business and see returns before needing to pay it back.
No interest for the first year makes it easier for you to manage your finances. This program is designed to support your business’s growth and stability.
Program Steps
Gather Required Documentation:
- Business Plan
- Financial Statements
- Tax Returns
- Proof of Business Registration
- Identification Documents (e.g., driver's license, passport)
- Any other documents specified by the program guidelines
Complete the Application Form:
- Access the application form on the program's official website.
- Fill out all required fields accurately.
- Ensure all information provided matches the documentation.
Submit the Application:
- Review your application for completeness.
- Attach all required documentation.
- Submit the application through the designated submission portal or email address.
Follow Up:
- Monitor your email or application portal for any updates.
- Respond promptly to any requests for additional information or clarification.
Attend an Interview or Meeting (if required):
- Be prepared to discuss your business and application in detail.
- Bring any additional documentation that may support your application.
Receive Approval and Funding:
- If approved, review the terms and conditions of the funding.
- Sign any necessary agreements.
- Receive the funds and use them as outlined in your application.