Réseau des SADC et CAE — Loans
Highlights
This program is designed to support your business with both financial assistance and expert guidance. You can access funds tailored to your community's needs, ensuring that your business thrives and contributes to local economic vitality. The income generated by these funds is reinvested in other projects, fostering continuous growth and prosperity in your area.
Key Benefits:
- Financial Assistance: Attractive loans tailored to your business needs.
- Technical Support: Access to specialists and a national network of expertise.
- Comprehensive Services: From project development to business model creation, and ongoing partnership throughout project implementation.
By participating in this program, you will benefit from locally managed funds that prioritize your community's unique challenges and opportunities. This means you get personalized support and solutions that are more effective than generic financing options. Plus, the program's focus on sustainable development and innovation ensures that your business stays competitive and forward-thinking. Qualifying is straightforward, and the support you receive can make a significant difference in your business's success.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- The loan offers a competitive interest rate, which is determined based on current market conditions.
- Repayment terms are flexible, with options ranging from 1 to 10 years, depending on the loan amount and business needs.
Eligible Expenses:
- Equipment purchases
- Leasehold improvements
- Intangible assets (such as patents or trademarks)
- Working capital (including inventory and operational expenses)
Ineligible Expenses:
- Personal expenses
- Real estate purchases
- Refinancing existing debts
Fees:
- Application fee of $150
- Document preparation fee of $200
- No renewal fees
- A one-time administration fee of 1.5% of the loan amount, which can be included in the loan
This financing option is designed to support your business's growth and operational needs, ensuring you have the resources to succeed.
Qualifications
- Must be a business located in Quebec.
- Must be involved in local economic development.
- Must be engaged in innovative projects or integrating new technologies.
- Must be a tourism business or project.
- Must support women entrepreneurs.
- Must incorporate sustainable development practices.
- Must be involved in revitalizing downtown areas and town cores.
- Must work on business projects with Indigenous communities.
- Must encourage youth entrepreneurship and business succession.
- Must seek technical assistance for business start-up, expansion, or transfer.
Must require financing for regional economic vitality and job creation.
Disqualifications:
- None explicitly mentioned in the provided context.
Description
This program is designed to support your business and help it grow. You can receive financial assistance to develop your projects, create new business models, and implement them successfully. The program offers access to specialists and a national network of expertise, ensuring you have the right support at every step.
Financial assistance is available through a special local economic development fund. This can be used for various purposes, including research and analysis, technical support, and business financing. The program is flexible and tailored to meet the specific needs of your community, ensuring that the funds are used effectively to drive local economic growth.
Additionally, the program emphasizes sustainable development and innovation. It helps businesses adopt environmentally responsible practices and integrate new technologies. This not only benefits your business but also contributes positively to the community and the environment. By participating in this program, you can ensure your business remains competitive and sustainable in the long run.
Program Steps
Find Your Local SADC or CAE: Locate your nearest SADC (Société d'aide au développement des collectivités) or CAE (Centre d'aide aux entreprises) office. They will be your primary point of contact throughout the application process.
Contact Your SADC or CAE: Reach out to your local SADC or CAE to discuss your business needs and the specific support you are seeking. They will provide initial guidance and help you understand the program's benefits.
Prepare Necessary Documentation: Gather the required documents to support your application. These typically include:
- Business plan
- Financial statements (balance sheet, income statement, cash flow statement)
- Details of the project or business expansion plan
- Quotes or estimates for any equipment or services needed
- Proof of business registration
- Personal identification documents
Schedule a Consultation: Arrange a meeting with an advisor from your local SADC or CAE. During this meeting, you will discuss your business plan, financial needs, and how the program can support your goals.
Complete the Application Form: Fill out the application form provided by your SADC or CAE. Ensure all sections are completed accurately and attach the necessary documentation.
Submit Your Application: Submit the completed application form and all required documents to your local SADC or CAE office. They will review your submission and may request additional information if needed.
Application Review and Follow-Up: Your application will be reviewed by the SADC or CAE team. They may contact you for further discussions or to clarify any details. Be prepared to provide additional information if requested.
Approval and Agreement: If your application is approved, you will receive an agreement outlining the terms and conditions of the support or financing. Review this agreement carefully and discuss any questions with your advisor.
Receive Funds or Support: Once the agreement is signed, you will receive the funds or support as outlined in the agreement. Use these resources to implement your business project or expansion plan.
Ongoing Support and Monitoring: Stay in contact with your SADC or CAE advisor. They will provide ongoing support and monitor your progress to ensure the success of your business project.