Fonds Forêt (Forest Fund)
$150,000.00
Loan
Description:
The forest fund is offered to businesses working in the forestry sector. It was set up to facilitate their access to financing and allow the hiring and retention of local workers. The financing must be contracted for business acquisition, expansion, or modernization projects.
Comments on Funding:
Funding takes the form of loans of up to $150,000.
Loan terms and fees:
1. Minimum down payment required of 10% of the cost of the project.
2. Financial participation takes the form of a term loan that can be spread over an amortization period established according to the useful life of the asset or project financed; all analyzed according to the favorable repayment capacity of 1.1 demonstrated by the company. The lesser of the two will be chosen. A maximum amortization period of 15 years cannot be exceeded for any project.
3. Possibility of capital moratorium during the thaw period or any other period during the year, to the satisfaction of the SADC.
4. The applicable interest rate is set at the base rate for Bank of Canada business loans plus +2% to +6% according to the SADC analysis grid.
5. As a guarantee, the SADC will require the promoter’s personal guarantee as well as a first rank tangible guarantee.
Continuous Intake
Eligibility:
Applicants must:
1. be businesses operating in the forestry sector;
2. be seeking financial assistance for business acquisition, expansion, or modernization projects;
3. reside in the MRC du Haut-Saint-Maurice.
Application Steps:
For application details, applicants must contact SADC Haut-Saint-Maurice through:
Tel.: (819) 523-4227
Email: info@sadchsm.qc.ca
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
