CAE Haute-Montérégie Start-up Loan
$50,000.00
Loan
Description:
CAE Haute-Montérégie’s Start-up Loan is designed for entrepreneurs seeking financing to cover for expenditures required before even starting up operations (start-up costs, buying a business, promotional materials, construction/renovation work, fit up, office equipment and supplies, etc.).
Comments on Funding:
Funding is a loan ranging from $5,000 to $50,000:
– Guarantees required: personal surety bond, life insurance (other guarantees may be required);
– Interest rate based on the average rate applied by other business assistance centres, i.e., around 9% (this rate will be adjusted according to the project’s risk);
– Amortization of the loan over a period of 3 to 5 years.
Continuous Intake
Eligibility:
Applicants must:
1. be 18 or older;
2. be a Canadian citizen or a permanent resident;
3. carry out the project in the territory served by the CAEHM;
4. have a satisfactory credit history (business and/or entrepreneur);
5. have a satisfactory personal assessment (entrepreneur);
6. have businesses that have been in operation from 0 to 5 years;
7. be located within the service area of CAE Haute-Montérégie;
8. make a 10% initial down payment (an asset transfer can be used as a down payment; assets valued at historical cost).
Application Steps:
Applicants must:
1. fill out the Project Presentation and Applicant Profile form;
2. fill out the grid to determine the eligibility of their financing application. (The grid will be emailed to them after they fill out the application form in Step 1);
3. write a business plan (provide information about the members of management and data about the market and production).
Documentation Needed:
Applicants must provide a completed Applicant Profile Form, a Business Plan, and other information as requested.
Other Things to Note:
- All
- Bedford CT
- Bedford V
- Equipment or Property (lease or buy)
- Farnham
- Hemmingford CT
- Hemmingford VL
- Henryville
- Lacolle
- Marketing
- Mont-Saint-Grégoire
- Montérégie
- Napierville
- Non-profit Organization
- Notre-Dame-de-Stanbridge
- Noyan
- Pike-River
- Property Construction or Improvement
- Quebec
- Saint-Alexandre
- Saint-Armand
- Saint-Bernard-de-Lacolle
- Saint-Blaise-sur-Richelieu
- Saint-Cyprien-de-Napierville
- Saint-Édouard
- Saint-Georges-de-Clarenceville
- Saint-Ignace-de-Stanbridge
- Saint-Jacques-le-Mineur
- Saint-Jean-sur-Richelieu
- Saint-Michel
- Saint-Patrice-de-Sherrington
- Saint-Paul-de-l'Ile-aux-Noix
- Saint-Rémi
- Saint-Sébastien
- Saint-Valentin
- Sainte-Anne-de-Sabrevois
- Sainte-Brigide-d'Iberville
- Sainte-Clotilde
- Sainte-Sabine
- Stanbridge East
- Stanbridge Station
- Start a Business
- Venise-en-Québec
- Working Capital
- Youth
About the author
Maurice
