Quantum Leap
Highlights
This program is designed for businesses like yours, offering a unique opportunity to secure funding for growth and innovation. 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 purposes, including operating expenses, restorations, new equipment, and software.
What sets this program apart is its government backing, providing you with more flexible repayment options compared to traditional loans. You can choose how to repay the loan, with terms extending up to 15 years. This flexibility allows you to manage your cash flow more effectively and invest in your business's future with confidence.
Qualifying for this program is straightforward, making it an accessible option for your business. By being approved, you gain the financial support needed to drive innovation and achieve your business goals.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Research and development costs.
- Salaries for research staff.
- Purchase of equipment and materials.
- Travel expenses related to research activities.
- Patent filing fees.
Use of Funds:
- Funds cannot be used for marketing expenses.
- Funds cannot be used for general operational costs unrelated to research.
Fees:
- No application fees.
- No administrative fees.
Qualifications
- Must be a startup in the life sciences sector.
Business must be located in Québec.
Disqualifications:
- None specified in the provided context.
Description
This program offers your business up to $1,000,000 in funding. You can use this money to buy equipment or improve your workspace.
Eligible expenses include:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Retail space renovations
Additionally, you can receive up to $150,000 for costs like software or operational expenses to keep your business running smoothly.
The government guarantees 85% of the loan, providing a significant safety net for your business.
Flexible repayment options are available. You can choose a variable interest rate, a fixed rate, or a combination of both. You also have up to 15 years to repay the loan, regardless of how you use the funds.
Program Steps
Gather Necessary Documentation:
- Business Plan
- Financial Statements (last two years)
- Tax Returns (last two years)
- Proof of Business Registration
- Identification Documents (for all owners)
- Project Proposal (if applicable)
Complete the Application Form:
- Fill out all required fields accurately.
- Ensure all information matches the documentation provided.
Prepare a Detailed Project Proposal:
- Outline the objectives and goals of the project.
- Include a timeline and budget.
- Describe the expected outcomes and benefits.
Submit the Application:
- Submit the completed application form and all required documents.
- Ensure submission is done through the specified channel (online portal, mail, or in-person).
Follow Up on Application Status:
- Contact the program office to confirm receipt of your application.
- Inquire about the timeline for review and approval.
Respond to Any Requests for Additional Information:
- Provide any additional documentation or clarification requested by the program office promptly.
Review and Sign Agreement:
- Once approved, review the terms and conditions of the program agreement.
- Sign the agreement and return it as instructed.
Receive Funds and Implement Project:
- Upon signing the agreement, funds will be disbursed.
- Begin implementing the project as outlined in your proposal.
Submit Progress Reports:
- Provide regular updates on the project's progress.
- Submit any required financial or performance reports as specified in the agreement.
Complete Final Report:
- At the conclusion of the project, submit a final report detailing outcomes and impacts.
- Include any financial reconciliation or audits required.