Financing fund for hotel establishments
$5,000,000
Loan, Investment
Description:
The Financing Fund for Hotel Establishments (PADAT section 2) is part of the perspective of responding to a significant need for renewal of infrastructure in the hotel accommodation sector. Read the contents of note number1. This component aims to improve the state of the hotel infrastructure and add tourist accommodation units.
Comments on Funding:
The minimum amount of financial intervention granted to the company is $100,000.
The maximum amount of financial intervention that can be granted under this component of the program for the same project is $5,000,000.
In any case, the amount of the financial intervention may not exceed the cumulative rates provided for in the following point.
January 1, 2026
Eligibility:
The following are eligible:
For-profit organizations (NPOs) legally constituted in Quebec.
Non-profit organizations (NPOs) legally constituted in Quebec.
Cooperatives legally constituted in Quebec.
Indigenous communities and nations recognized by the National Assembly.
Any grouping of these customers.
Applicants must have a financial structure, management quality and professional and technical staff that ensure the profitability, competitiveness and sustainability of the company. The following
are not eligible:
companies:
registered in the Register of companies not eligible for public contracts;
under the protection of the Companies ‘ Creditors Arrangement Act This hyperlink will open in a new window.(LRC (1985), c. C-36) or the Bankruptcy and Insolvency ActThis hyperlink will open in a new window.(LRC (1985), c. B-3);
who, during the two years preceding the application for financial assistance, have failed to comply with their obligations after having been duly notified in connection with the granting of previous financial assistance by the MTO;
state-owned companies, ministries and agencies of the government of Quebec or Canada.
Financial assistance may not be used to make a payment to any entity in any of the situations in the preceding paragraphs.
Application Steps:
For your request for financial assistance to be studied, you must submit a complete file.
Check if you are part of the eligible customers .
Learn about eligible projects and the project selection process .
Complete the PADAT application form section 2 (PDF 1.28 MB) and prepare the other mandatory documents:
business plan, including an executive summary;
financial documents (financial statements for the last three years, interim financial statements, forecast financial statements for the current year and for the next full financial year, cash budget, up-to-date balances on term loans from lenders to the company, personal balance sheets of shareholders and key executives where applicable);
one or more documents which demonstrate the company’s commitment to a structured approach to sustainable development or corporate social responsibility (CSR) and/or commitment to favoring sustainable construction principles for the work to be carried out.
Before submitting a request for financial assistance, do not hesitate to contact an advisor from Investissement Québec – Tourism Division for assistance in your process.
IQ reserves the right to request any other document or information it deems appropriate.
Submit a request
Before December 31, 2025
IQTourisme@invest-quebec.com
Documentation Needed:
1. Check eligibility as an applicant
2. Learn about eligible projects and the project selection process
3. Completed PADAT application form section 1 (PDF 1.30 MB)
4. Mandatory documents:
– Business plan, including an executive summary
– Financial documents:
– Financial statements for the last three years
– Interim financial statements
– Forecast financial statements for the current year and the next full financial year
– Cash budget
– Lists of aged accounts receivable and accounts payable with comparison to the previous year
– Offer of financing or letter of intent from another lender
– Letter of offer or renewal of credit facilities or up-to-date balances on term loans from a lender to the company
– Personal balance sheets of shareholders and key executives, if applicable
– Documents demonstrating commitment to sustainable development, corporate social responsibility (CSR), or sustainable construction principles
5. Additional documents for equipment and capital projects:
– Purchase contract or tenders
– External environmental reports, phase 1
– Detailed list of equipment with serial numbers
– Contract and insurance policy (property)
IQ reserves the right to request any other document or information it deems appropriate.
Other Things to Note:
Beneficiaries must submit the “Tourism Benefits Sheet” form to the Ministry annually, starting the year following the end of the work, for the duration of the financial intervention (or for a minimum period of five years).
About the author
Maurice
