Short-Term Loan

By mmuise
Description:

This is financial assistance covering the company's short-term liquidity needs, for a maximum period of 18 months. This lever is used in particular to increase the company's working capital by financing the production of a purchase order or by advancing the sums of a subsidy to be received.


Comments on Funding:

Funding takes the form of loans of up to $250,000.
Loan terms and fees:
1. Short-term loan, repayable over a maximum horizon of 18 months.
2. Principal is repayable at maturity and interest is paid monthly.
3. A guarantee is generally required for this type of financing. 4. Interest rate: competitive and risk-based.

Deadline: -
Eligibility:

Applicants must be funding their businesses' short-term liquidity needs, and meeting these eligibility criteria:

  • Be legally constituted;
  • Be located in the DEL region or plan to be;
  • Work in eligible sectors: Aerospace, Agri-Food, Transport and Logistics, Information Technology, and Life Sciences, and offer value-added services or products generally intended for businesses (B2B);
  • Present a project promoting the creation and/or maintenance of jobs;
  • Present a project for which government financial assistance, combined with financial assistance from DEL, represents a maximum of 50% of project expenses;
  • Demonstrate that the project is based on realistic forecast financial statements showing possibilities for profitability and growth;
  • Present current financial statements demonstrating 20% post-project equity and repayment capacity;
  • Demonstrate that the company and the contractor are not in default towards the government and its creditors, nor are they the subject of any litigation.
Application Steps:

-

Documentation Needed:

-

Other Things to Note:

This program is no longer available.

About the author
mmuise