Fonds ADM / 375 idées
$7,500.00
Loan
Description:
The Fonds ADM / 375 idées is designed to promote Montréal’s young entrepreneurs and encourage them financially in their projects. The goal is to support 375 entrepreneurs by the 400th anniversary of the city.
Comments on Funding:
Funding takes the form of loans of up to $7,500.
Loan terms and fees:
1. Advantageous interest rate of 2%.
2. Interest and principal repayment holiday during the first 6 months.
3. Refundable in 2 years (in 24 monthly instalments following the repayment holiday).
Continuous Intake
Eligibility:
Applicants must:
1. be majority owned by a majority of shareholders between the ages of 18 and 40 and a majority of Canadian citizens, permanent residents or hold a Québec selection certificate (CSQ);
2. have their head office located in the City of Montréal territory;
3. have reached 100% of its crowdfunding campaign for a minimum amount of $3,750 on the Québec platform La Ruche since January 1, 2017;
4. be in the pre-start phase (viable project), start-up or growth for less than 2 years;
5. present an executive summary of the business plan (2-3 pages) which demonstrates a high potential for viability and profitability.
Application Steps:
Applicants must connect with the experts in their area. They can do so by entering their business postal code or selecting their area using the ‘Find your area’ link found on the webpage.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
The Fonds ADM / 375 idées is an initiative of the Junior Chamber of Commerce of Montréal, in partnership with Aéroports de Montréal and the Board of Governors of the 375th anniversary of Montréal. La Ruche and CloudRaker are also partners in the project.
About the author
Maurice
