Prêt pont (Bridge Loan)

By mmuise
Description:

Microcrédit Montréal is a non-profit community loan fund whose mission is to fight poverty and exclusion through an innovative approach: community credit. Bridge loans of up to $50,000 are available primarily for cultural enterprises, social economy enterprises including NPOs and cooperatives.


Comments on Funding:

Funding takes the form of loans of up to $50,000.

Loan terms and fees:
1. Interest rate: 10%.
2. Administration fees: 1% of the authorized loan amount.
3. Repayment period: 3 months.
4. Guarantee required.

Deadline: Continuous Intake
Eligibility:

The applicant must:

  • be a resident of Montreal or have the head office of their company on the island of Montreal;
  • be a Canadian citizen, permanent resident or accepted refugee ( or temporary worker * certain conditions apply);
  • be excluded from conventional sources of financing;
  • be a non-profit or social economy organization (for a bridge loan);
  • not be using funds for these projects:
    a) export project;
    b) technology project in a pre-start up phase;
    c) purchase of a franchise / Multiple level marketing pyramid scheme;
    d) projects of a religious, political, violent or degrading sexual nature;
    e) projects with negative social and/or environmental impacts.
Application Steps:

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Documentation Needed:

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Other Things to Note:

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About the author
mmuise