PARTENAR-IA — CQDM — Industry
Highlights
This program is a great opportunity for your business. It offers substantial financial support to help you grow and innovate. You can receive up to $1,000,000 in financing, with an additional $150,000 available for software or day-to-day operating costs.
What You Get
- Up to $1,000,000 in financing
- An additional $150,000 for software or operating costs
The funds can be used for:
- Operating expenses
- Restorations
- New equipment
- Software
- And much more
The key difference between this loan and others is that it is backed by the government. You also have the flexibility to choose how you repay it, with up to 15 years to do so. This makes it easier to manage your finances and focus on growing your business.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Research and development activities
- Equipment purchases
- Personnel costs directly related to the project
- Materials and supplies
- Travel expenses for project purposes
Ineligible Expenses:
- General operational costs
- Marketing and advertising expenses
- Office rent and utilities
- Any expenses not directly related to the project
Fees:
- No application fees
- No administrative fees
Qualifications
- Must be a startup in the life sciences sector.
Business must be located in Québec.
Disqualifications:
- Businesses outside the life sciences sector.
- Businesses located outside Québec.
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 operational expenses, the program provides up to $150,000.
The federal government guarantees 85% of the loan, providing a significant safety net for you.
This loan program is flexible. If you have made qualifying purchases in the last 365 days, you can include them in this loan.
You have various repayment options. You can choose a variable interest rate, a fixed rate, or a combination of both.
You have up to 15 years to repay the loan, regardless of what you spend it on.
Program Steps
Gather Required Documentation: Prepare the following documents:
- Business plan
- Financial statements (balance sheet, income statement, cash flow statement)
- Proof of business registration
- Tax returns (last two years)
- Details of the project or initiative for which funding is sought
Complete the Application Form: Fill out the application form provided by the program. Ensure all sections are completed accurately.
Submit the Application: Send the completed application form and required documentation to the designated program office or online portal.
Review and Follow-Up: After submission, monitor your application status. Be prepared to provide additional information if requested.
Attend an Interview (if required): Some programs may require an interview or presentation. Prepare to discuss your business plan and how the funding will be used.
Receive Approval and Funding: Upon approval, review the terms and conditions. Once accepted, the funds will be disbursed to your business account.
Implement the Project: Use the funds as outlined in your application. Keep detailed records of expenditures and progress.
Report on Progress: Submit regular progress reports as required by the program. This may include financial updates and project milestones.