Quebec International — Set up or expand a business
Highlights
This program is designed for businesses like yours, offering a unique opportunity to grow and thrive in Québec City. With a focus on entrepreneurship, innovation, and expansion, this program provides comprehensive support and financial assistance to help you achieve your business goals.
Why Apply?
- Substantial Funding: Access up to $75.8 million in funding, with an additional $19.6 million recently added.
- Comprehensive Support: Benefit from expert advice on creating a value proposition, finding a site, meeting partners, and more.
- Diverse Opportunities: Tap into Québec City's strong industrial sectors, including technology, manufacturing, and services.
What's in it for You?
- Flexible Financing: Tailored financial solutions to meet your specific needs.
- Strategic Location: Québec City offers a competitive business environment with a unique way of doing things.
- Expert Guidance: Our team will assist you at every stage, from setting up to expanding your business.
Applying for this program is straightforward, and our team is here to guide you through the process. Take advantage of this opportunity to grow your business in one of Canada's most dynamic regions.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- The loan offers a competitive interest rate of 3.5% per annum.
- Repayment terms are flexible, with options ranging from 5 to 10 years.
- Early repayment is allowed without any penalties.
Eligible Expenses:
- Purchase of new or used equipment.
- Leasehold improvements.
- Research and development costs.
- Marketing and promotional expenses.
- Employee training and development.
Ineligible Expenses:
- Personal expenses.
- Repayment of existing debts.
- Real estate purchases.
- Dividends or bonuses to owners or shareholders.
Fees:
- Application fee of $150.
- Annual administration fee of 1% of the loan amount.
- No prepayment penalties.
Qualifications
- Must be a business looking to set up or expand in Québec City.
- Must be involved in one of the key sectors: Life Sciences and Health Technologies, Information and Communication Technologies, Electronics and Optics-Photonics, Food and Nutrition, Green and Smart Building, Insurance and Financial Services, Artificial Intelligence, Manufacturing, Francophonie.
Must be seeking support for activities such as creating a value proposition, finding a site, meeting technology or business partners, looking for financing, identifying incentives, or facilitating employee relocation.
Disqualifications:
- Businesses not planning to establish or expand in Québec City.
- Businesses not operating in the specified key sectors.
Description
This program offers your business a fantastic opportunity to grow and thrive in Québec City. You can receive up to $75.8 million in funding over four years, with an additional $19.6 million extended until March 2025. This money can be used for various purposes, such as expanding your operations, modernizing your facilities, or investing in new technology.
Here's what you can use the funds for:
- Expanding your business premises
- Upgrading equipment and technology
- Modernizing your digital infrastructure
- Developing new products or services
The program is designed to support your business at every stage, from setting up to expanding. It provides not just financial assistance but also access to a network of contacts and expert advice. This can help you find the right partners, secure additional funding, and navigate any legal or regulatory hurdles.
The benefits to your business are clear:
- Significant financial support to fuel your growth
- Expert advice and support at every stage of your project
- Access to a network of contacts to help you succeed
This program is a great way to ensure your business thrives in Québec City, leveraging both financial and strategic support to reach your goals.
Program Steps
Gather Required Documentation: Prepare the necessary documents for your application. These typically include:
- Business plan
- Financial statements (e.g., balance sheets, income statements)
- Proof of business registration
- Identification documents for business owners
- Details of intended use of funds (e.g., quotes for equipment or expansion costs)
Complete the Application Form: Fill out the application form provided by the program. Ensure all sections are completed accurately and thoroughly.
Submit the Application: Submit your completed application form along with the required documentation to the designated office or online portal.
Attend an Interview or Meeting: Be prepared to attend an interview or meeting if requested. This may involve discussing your business plan and how the program will benefit your business.
Review and Approval: Wait for the review of your application. The program administrators will assess your application and may request additional information.
Receive Funding: Upon approval, you will receive the funding. Review the terms and conditions of the funding agreement carefully.
Implement Your Plan: Use the funds as outlined in your application to grow or support your business. Keep records of how the funds are used.
Report Progress: Provide regular updates or reports as required by the program to demonstrate how the funds are being utilized and the impact on your business.