Immigrant Investor Program for Business Assistance
$250,000.00
Grant
Description:
An original and advantageous formula, this program is a non-refundable financial contribution , offered to local businesses. The interest generated by investments from immigrant investors, managed by Investissement Québec, are allocated to businesses.
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.
Rolling Deadline
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.
2. have consolidated total assets of less than $35 million.
Project eligibility criteria:
1. Project costs must total at least $300,000 (or $270,000 for businesses in the start-up phase).
2. The project must have a maximum duration of two years.
3. 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:
Step 1: Applicants must contact a financial intermediary accredited in the program to submit their application. They can also contact an Investissement Québec advisor, who will answer their questions.
Step 2: The financial intermediary or Investissement Québec advisor will help the applicants list the information they must provide: business plan or non-repayable contribution request form , description of the project, financing sought, projected expenses, marketing plan, etc.
Step 3: The financial intermediary will submit their file to IQ Immigrants Investisseurs inc. Investissement Québec will analyze their file, then they will communicate with the applicants.
Documentation Needed:
Applicants must provide a business plan or non-repayable contribution request form , description of the project, financing sought, projected expenses, marketing plan, etc.
Other Things to Note:
As of July 1 , 2024, the receipt of new applications to the Immigrant Investor Program for business assistance is suspended for an indefinite period.
About the author
Maurice
