QEPD — Diversify your economy - CED (QC)
Highlights
This program is designed for businesses like yours to help boost local economies and attract international attention. You can receive up to 50% of your project costs covered, with no interest on the repayable funding. Repayment starts two years after your project ends, giving you ample time to see the benefits of your investment.
What You Get
- Financial assistance up to 50% of authorized costs
- No interest on the repayable funding
- Two-year grace period before repayment begins
Benefits for Your Business
- Boost tourism and attract international organizations to your region
- Strengthen local economic activity by supporting your business projects
- Generate investments and economic spin-offs through community facilities
This program is easier to qualify for than many others, and it offers substantial support to help your business grow and innovate. Take advantage of this opportunity to enhance your business and contribute to your community's economic development.
Financing Details
Type of Financing:
- For SMEs: Repayable funding, generally up to 50% of authorized costs.
- For NPOs: Non-repayable funding, generally up to 90% of authorized costs.
Repayment Terms:
- For SMEs: Repayment begins two years after the end of the project. There is no interest on the repayable funding.
Eligible Expenses:
- All costs directly related to the project that are deemed reasonable and essential by CED.
- Examples include:
- Development of promotional tools
- Participation in events
- Acquisition of production equipment
- Hiring of experts or professionals
- Marketing of products and services
- Enhancement of capacity to innovate and develop new products or processes
Ineligible Expenses:
- Non-essential costs not directly related to the project.
- Refinancing of existing debt.
- Purchase of assets at prices exceeding fair market value.
- Amortization expenses.
- Goodwill costs.
Fees:
- There are no fees associated with this program.
Qualifications
- Must be a small or medium-sized enterprise (SME) or a non-profit organization (NPO).
- Must be located in Quebec.
- Must be involved in activities such as:
- Attracting international organizations to the region.
- Drawing tourists from outside Quebec.
- Acquiring community economic facilities.
- Must be a local business, co-op, business association, economic development organization, municipality, or regional county municipality (RCM).
Indigenous organizations are eligible.
Disqualifications:
- Retail businesses (e.g., clothing stores, grocery stores, automobile sales and maintenance outlets).
- Food services (e.g., restaurants and cafés).
- Transportation services.
- Housing construction.
- Daycare services.
- Hair and beauty salons.
- Nightclubs, bars, and cabarets.
Description
This program offers financial assistance to help your business grow and thrive. You can receive up to 50% of the authorized costs for your project. This funding is repayable, but there is no interest, and you start repaying two years after your project ends.
You can use this money for a variety of purposes, such as:
- Developing and promoting tourist attractions
- Participating in events to attract international organizations
- Enhancing local economic facilities
- Acquiring production equipment
- Hiring experts or professionals
- Marketing your products and services
- Innovating and developing new products or processes
The goal is to boost economic activity in your region. This can lead to increased spending by tourists, more international presence, and stronger local businesses. By participating, you help generate investments and economic benefits for your community.
Program Steps
Gather Required Documentation:
- Business plan
- Financial statements
- Project proposal
- Quotes for equipment or services
- Proof of eligibility (e.g., business registration documents)
Complete the Application Form:
- Visit the official website to download the application form.
- Fill out all required fields accurately.
Prepare a Detailed Project Proposal:
- Outline the project objectives.
- Describe how the project will boost local economic activity.
- Include timelines and expected outcomes.
Submit the Application:
- Attach all required documents.
- Submit the completed application form and project proposal through the specified submission method (online, mail, or in-person).
Contact CED for Guidance:
- Call 1-800-561-0633 or email for any questions or clarifications.
- Seek advice on any additional documentation or steps needed.
Review and Follow-Up:
- Monitor the status of your application.
- Respond promptly to any requests for additional information or clarification.
Approval and Agreement:
- Upon approval, review the terms and conditions of the funding agreement.
- Sign the agreement to formalize the funding arrangement.
Project Implementation:
- Begin the project as outlined in your proposal.
- Keep detailed records of expenses and progress.
Reporting and Repayment:
- Submit regular progress reports as required.
- For SMEs, prepare for repayment starting two years after project completion.
