Programme des immigrants investisseurs pour l’aide aux entreprises (Immigrant Investor Program for Business Assistance)

By mmuise
Description:

This program is a non-refundable financial contribution offered to local businesses. Interest generated by investments from immigrant investors, managed by Investissement Québec, is allocated to companies.


Comments on Funding:

1. Funding takes the form of non-refundable financial contributions ranging from $40,000 to $250,000 and covering up to 10% of total project costs for existing businesses and up to 15% for business start-ups.
2. For projects costing between $300,000 and $400,000, the amount of the financial assistance is set at $40,000.
3. The contribution is paid over four years, with a maximum of $250,000 per company, per three-year period.

Deadline: Continuous Intake
Eligibility:

Applicant companies must
1. operate in one of the following industries:


    a) manufacturing;
    b) new economy - biotechnology, pharmaceuticals, aeronautics or aerospace;
    c) high-value-added information technology;
    d) tourism;
    e) environmental restoration;
    f) recycling, waste recovery and processing;
    g) call centres;
    h) aquaculture, sea farming and marine biotechnology;
    i) specialized horticulture.
  • have consolidated total assets of less than $35 million.

    Project eligibility criteria:
  • Project costs must total at least $300,000 (or $270,000 for businesses in the start-up phase).
  • The project must have a maximum duration of two years.
  • When the financial intermediary submits the applicant’s file to IQ Immigrants Investisseurs inc., the project may already be under way but must not yet be completed. If it has begun, only those expenses incurred in the 12 months preceding the financial intermediary’s submission date are eligible.
Application Steps:

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Documentation Needed:

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Other Things to Note:

To receive financing, applicants must obtain the recommendation of an accredited financial intermediary recognized by Investissement Québec.

About the author
mmuise