Business Accelerator Loan

By mmuise
Description:

This convertible or nonconvertible debenture is designed for participating businesses in the Impulse or Acceleration Program that have reached the growth stage.


Comments on Funding:

1. Funding takes the form of debentures of up to $100,000.
2. This loan can be combined with conditionally non-repayable financing that may cover 50% of external professional fees related to the applicant's project.

Deadline: Continuous Intake
Eligibility:

Applicants must be businesses meeting these eligibility criteria:

  • Be legally constituted;
  • Be located in the DEL region or plan to be;
  • Operate in an eligible industry: Aerospace, Agri-Food, Transport and Logistics, Information Technology, and Life Sciences;
  • Offer innovative value-added products or services intended for a clearly defined profitable market in a B2B context;
  • Be officially admitted to the Impulsion or Acceleration program and have reached the growth stage;
  • Submit a project that will help to create and/or maintain jobs
  • Demonstrate that your management team is experienced and complementary;
  • Have control over the business and there work full-time;
  • Submit a diversified financing structure, showing financial partners that are strategic to carrying out the project;
  • Submit a project for which government financing and DEL financing combined cover a maximum of 50% of the project expenses;
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  • Demonstrate that the project is based on realistic financial forecasts demonstrating profitability and growth potential and potential to break even within 2 years of the investment;
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  • Provide current financial statements showing 20% equity after the project and ability to repay;
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  • Demonstrate that the business and entrepreneur are not in default to the government or its creditors, nor are they the subject of any litigation.
Application Steps:

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Documentation Needed:

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Other Things to Note:

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About the author
mmuise