Prêt Express (Express Loan)

By mmuise
Description:

The Express Loan program is for all businesses located in the MRC Côte-de-Gaspé that are looking to take advantage of fast-tracked funding for needs that are immediate and often difficult to finance. This program offers a $5,000 fixed principle business loan repayable over a three-year (3) term.


Comments on Funding:

Funding takes the form of business loans of $5,000 (fixed amount).

Loan terms and fees:
1. Monthly reimbursement payments;
2. Term: 36 months;
3. Interest rate: Prime business rate of the Bank of Canada plus 4%;
4. Compulsory: $5,000 personal guarantee (100%);
5. Life insurance is required.

Deadline: Continuous Intake
Eligibility:

Applicants must:

  • be businesses;
  • be seeking quick and tailored financing for specific needs that are often challenging to fund;
  • meet these eligibility criteria:
    a) The main activities of the business are located within the territory of SADC de Gaspé;
    b) The business must have economic purposes;
    c) The project complies with conflict of interest rules;
    d) The project aligns with the intervention sectors of SADC;
    e) The business demonstrates good financial health.
Application Steps:

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Documentation Needed:

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Other Things to Note:

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About the author
mmuise