Quebec Government Business Loans: Financing Options for Entrepreneurs and Growing Businesses

Quebec’s leader in venture capital, Investissement Québec invests in innovative, visionary, and forward-looking projects. This contribution of funds, vital for businesses, can be made directly or indirectly through specialized funds.

Improving the condition of the hotel park infrastructure and adding tourist accommodation units;
More specifically, this component aims to:

The renovation and upgrading of accommodation units, meeting or conference rooms, public areas (entrance hall, reception, rest areas, public toilets, bar and other interior fittings) or the exterior structure of the building (cladding, roof, doors and windows, etc.);
The addition of hotel infrastructure.

Stimulate private investment to renew the tourism offering in Quebec;
Promote the takeover of tourism businesses;
To ensure the growth, development and sustainability of tourism businesses;
Stimulate the regional economy by increasing the number of visitors and increasing tourism revenue;
Increase the economic and social vitality of communities and regions through the development of a sustainable, original and diversified tourist offering.

Innovative companies chosen by a selection committee will benefit from support and a lump sum to stimulate their growth. Funding may also be provided to them so that they can adapt their solution to the targeted tourism companies.

At the same time, the MT Lab will carry out various networking and consulting activities to support organizations in their initiatives to promote the emergence of a culture of innovation in the tourism sector and facilitate the adoption of innovative solutions.

As part of this component, calls for proposals will be made to innovative companies to promote the development of solutions to meet needs and challenges previously identified by tourism stakeholders or partners of the Ministry of Tourism.

The general objective of the program is to support the development and consolidation of an innovative, scalable and sustainable tourism offering to ensure the sustainability and competitiveness of the Quebec tourism industry.

The aim of this fund is to promote the implementation of innovative projects that will improve the tourist offering by attracting new customers and significantly extending the operating period of tourist businesses.

The Tourism Business Development Fund offers existing or start-up businesses, including those in the social economy, access to financing adapted to their reality in the form of loans ranging from $50,000 to $500,000.

The Three-Phase Network Access Program offers financial assistance to companies in the agricultural and agri-food sectors that wish to carry out a project requiring an extension of the three-phase electricity network or a connection to this network.

This program aims to improve the production value of French-language fiction, documentary or animated television series in order to increase their commercial potential in markets outside Quebec by relying on technical and artistic aspects (visual and sound), the adaptation of Quebec literary works and the acquisition of rights for a minimum of three existing musical works.

The Sustainable Growth Investment Program is designed for farmers who have investment projects to put forward, regardless of their production sector or which life cycle their business is in. It aims to support productive and sustainable investments.
The Sustainable Growth Investment Program has four components:
1D: Growth Support funds projects related to productions other than those targeted in the 2D component.
2D: Growth Plus Support funds projects related to beef cattle, sheep, or goat production.
3D: Agri-Environmental Enhancement of Cultivated Land funds projects that will enhance the value of cultivated land or on-farm agri-environmental projects.
4D: Young Entrepreneurs provides funding to agricultural and agri-food businesses wholly owned by persons over the age of 18 and under the age of 40.

The Program aims to encourage companies in the mining sector to improve their business practices in terms of sustainable development and more specifically to:

facilitate the achievement of ECOLOGO® UL sustainability certification within the mineral exploration industry, both for exploration companies and their service providers;
foster the emergence of leaders in sustainable development practices within the mining sector;
facilitate the obtaining and maintenance of Veriflora® certification in responsible peatland management for horticultural peat exploitation companies;
develop traceability initiatives within the MCS mining sector.

The Program aims to encourage companies in the mining sector to improve their business practices in terms of sustainable development and more specifically to:

facilitate the achievement of ECOLOGO® UL sustainability certification within the mineral exploration industry, both for exploration companies and their service providers;
foster the emergence of leaders in sustainable development practices within the mining sector;
facilitate the obtaining and maintenance of Veriflora® certification in responsible peatland management for horticultural peat exploitation companies;
develop traceability initiatives within the MCS mining sector.

The Program aims to encourage companies in the mining sector to improve their business practices in terms of sustainable development and more specifically to:

facilitate the achievement of ECOLOGO® UL sustainability certification within the mineral exploration industry, both for exploration companies and their service providers;
foster the emergence of leaders in sustainable development practices within the mining sector;
facilitate the obtaining and maintenance of Veriflora® certification in responsible peatland management for horticultural peat exploitation companies;
develop traceability initiatives within the MCS mining sector.

The Program aims to encourage companies in the mining sector to improve their business practices in terms of sustainable development and more specifically to:

facilitate the achievement of ECOLOGO® UL sustainability certification within the mineral exploration industry, both for exploration companies and their service providers;
foster the emergence of leaders in sustainable development practices within the mining sector;
facilitate the obtaining and maintenance of Veriflora® certification in responsible peatland management for horticultural peat exploitation companies;
develop traceability initiatives within the MCS mining sector.

The program aims to:
• Advance projects to scale up mineral or primary processing of CSMs at the maturity
level of a semi-continuous pilot project (PML 7) or demonstration plant (PML 8) to a
higher level or to market (see Appendix 1 for a description of PML).
• Innovate by creating new processes or improving existing processes.

This component aims to increase the number of companies that obtain their certification with a reserved designation or a rewarding term.

On February 13, 2023, in Bécancour, the Consortium for Research and Innovation in Metal Transformation (CRITM) launched the Critical and Strategic Minerals Scientific Research Network (Network), whose main objective is to promote the development and sustainability of critical and strategic minerals (CSM) value chains.

The Support Program dedicated to the scaling up of mineral processing or primary transformation processes for critical and strategic minerals (MCS) is aimed at companies in the mineral processing or primary transformation sector.

The support measure for the purchase of electric off-road vehicles (VHRE) helps support the electrification of the off-road vehicle fleet of tourist organizations by granting financial assistance.

The Tourist Attractions Development Support Program (PADAT, part 1) supports private investment by granting loans and loan guarantees and by supplementing the financial structure of tourism business investment projects.

The Economic Development Project Support Program – Structuring projects of organizations in support of the development of strategic sectors and regions (PAPDE, component 2) aims to support the implementation of activities and projects that promote the economic development of strategic sectors, niches and centers of excellence, innovation centers and zones as well as regions.

The Economic Development Project Support Program – Structuring projects of organizations in support of entrepreneurship development (PAPDE, component 1) aims to promote and support structuring projects of organizations that offer direct services to entrepreneurs.

This program is aimed at commercial galleries that specialize in the contemporary art market. It aims to support these businesses in their activities of dissemination and promotion of the works of professional artists in Quebec.

Through this program, SODEC supports producers of digital experiences, as part of a business strategy over a two-year period, for the creation and promotion of a catalogue of works, content, experiences or technocreative cultural products of Quebec intellectual property.

The Support Program for Research and Innovation Organizations – Support for the financing of public research and innovation infrastructures (PSO, component 4a) enables the modernization of public research and innovation infrastructures.

The Research and Innovation Organizations Support Program – Support for financing infrastructure in support of private innovation (PSO, component 4b) enables the modernization of infrastructure in support of private innovation.

The emerging creation support program:

is aimed at all Quebec audiovisual production companies that develop projects with emerging creators;
supports short and feature-length fiction film projects as well as short, medium and feature-length documentary projects.
They are generally submitted at the development stage, to benefit from the professional support, mentoring, networking and advice measures put in place for emerging creators.
However, some documentary or fiction feature films developed outside the program may be submitted directly to the production stage if they meet the specific eligibility conditions.

The Quebec Alcohol Positioning Support Program – Support for associations within the framework of business support activities (PAPAQ, section 3) helps support producers of alcoholic beverages in the marketing of their products.

Support the implementation of a marketing plan in order to develop or consolidate local marketing and agritourism initiatives.

The PARESAU – Forest Fire Measure 2023 provides support to companies that find themselves in a precarious situation and in temporary difficulty due to forest fires and demonstrate a cause and effect link between their financial and/or operational problems and the situation in question.

Maintain business operations by temporarily supporting the working capital needs of strategic companies experiencing significant financial difficulties so that they can continue their activities and maintain their jobs, particularly during the period necessary to implement solutions.

Maintain the activities of strategic companies in financial difficulty by supporting the development of solutions.

The Pêche en herbe program is presented by the Fondation de la faune du Québec, with the support of its main partner, Canadian Tire, and in collaboration with the Ministry of the Environment, the Fight against Climate Change, Wildlife and Parks through a special contribution from the sale of sport fishing permits.

Pêche en herbe aims to support organizations offering introductory sport fishing activities for young people aged 6 to 17 residing in the province of Quebec.

Promote awareness among college students of French-language songs by supporting dissemination activities (professional shows and activities designed specifically for this clientele).

This program provides financial support to Quebec music and variety companies to enable them enter, develop or consolidate their markets outside Quebec, export and promote cultural content.
There are 5 program components for music and variety companies:
1. Strategic development of companies abroad;
2. Projects:
a) Support for business opportunities and promotion abroad;
b) Support for tours of music and variety shows abroad.
3. Collective presence at markets and fairs, and other export activities;
4. International relationships;
5. Strategic initiatives.

This program provides financial support to Quebec book publishing companies that carry out commercial activities outside Quebec to develop or consolidate their markets for books by Quebec authors.
There are 5 program components for books publishing companies:
1. Strategic development of companies abroad;
2. Projects:
a) Support for business opportunities and promotion abroad;
b) Support for the translation of Quebec works;
3. Collective presence at markets and fairs, and other export activities;
4. International relationships;
5. Strategic initiatives.

This program provides financial support to Quebec businesses that produce and distribute cinematographic, television or interactive works outside of Quebec. Support aims to enable these companies enter, develop or consolidate their markets outside Quebec, export and promote cultural content.
There are 5 program components:
1. Strategic development of companies abroad;
2. Projects:
a) Support for business opportunities and promotion abroad;
b) Festivals and awards;
c) Support for the promotion of Quebec cinema abroad.
3. Collective presence at markets and fairs, and other export activities;
4. International relationships;
5. Strategic initiatives.

This program provides financial support to Quebec craft companies to enter, develop or consolidate their markets outside Quebec, to increase their visibility on the international stage, and to export and promote Quebec works.
There are 5 program components for Quebec crafts businesses:
1. Strategic development of companies abroad;
2. Projects:
a) Support for business opportunities and promotion abroad;
b) Support for export – art market.
3. Collective presence at markets and fairs, and other export activities;
4. International relationships;
5. Strategic initiatives.

Impulsion PME (the “Program”) aims to help young innovative companies with high growth potential to gain access to investment capital at the seed stage.

The Program relies on the commitment and collaboration of two types of recognized entities: the reference entities and the recognized investors .

When transferring a business, the seller-lender formula from La Financière agricole can prove to be very advantageous, both for the seller-lender and for the buyer.

The Coalition for Greener Aircraft is a not-for-profit organization dedicated to developing smarter, more efficient and effective technologies while reducing the environmental footprint of the aeronautical industry.

The Coalition’s vision is to maintain Québec’s competitive position in a fast-evolving global aeronautical market, through research and development activities, in response to new environmental regulations in the fight against climate change.

The Support Program for Research and Innovation Organizations – Support for research projects in collaboration with the community (PSO, component 2b) aims to:

strengthen the technological innovation capacity of companies and recipient environments through the development and transfer of technology resulting from public research projects;
strengthen the capacity of innovative companies with high growth potential ( startups ) to commercialize their innovations;
to establish partnerships between university, college, institutional and industrial circles, whether in Quebec, outside Quebec or internationally;
highlight research results and innovations that have commercial potential.

Launched in September 2022, the Research and Development Support Program for the Extraction, Processing and Recycling of Critical and Strategic Minerals is part of Action 2.2.2 of the Quebec Plan for the Valorization of Critical and Strategic Minerals 2020-2025 This link will open in a new window. . Financial assistance is available until March 31, 2025.

Through financial support for research and development projects, the program aims to promote innovation and the acquisition of knowledge on critical and strategic minerals according to the application of circular economy principles in their development.

The refundable tax credit for Quebec film and television production covers labour expenses incurred by a company that produces a Quebec film (or program).

These funds aim to stimulate entrepreneurship at the local level.

The Quebec Business Transfer Fund is intended for new entrepreneurs wishing to start a business by offering financial support adapted to business transfer situations. This new fund – created to promote the retention and continuity of existing businesses in Quebec – enables resales to obtain financing on favorable terms.

Projects to support businesses in their digital shift are supported as part of the Digital Transformation Offensive (OTN) initiative, which aims to provide a structuring support-consulting approach with a view to:

implement digital projects;
increase the productivity and performance of SMEs through the integration of digital technologies.

The Economic Development Project Support Program – Projects of organizations for the promotion of foreign trade or prospecting for foreign investments (PAPDE, section 3) aims to support projects of economic development organizations by raising awareness among companies regarding exports and diversification in foreign markets.

This program provides loans to Quebec SMEs and large companies for projects involving expansion, exporting, modernization, innovation, buildings and equipment, marketing and more.

This program aims to support the implementation of innovative projects that will encourage the population and visitors to use more active and collective modes of transport during festivals and tourist events.

You are an exporter needing to finance your working capital to support your market diversification strategies in Canada and internationally (outside the United States).

Panorama combines financing and support services to support and solidify your efforts in markets outside Quebec.

The credit facility allows you to meet the financing needs for your operating expenses.

Promoting the competitiveness of Quebec music publishing companies on national markets
Promote the development and marketing of Quebec musical works
Contribute to the development and support of Quebec songwriters, including emerging ones
Boost revenue from catalogs of Quebec musical works.

Improve labor productivity in crop production by supporting the purchase of agricultural equipment that reduces the number of working hours in targeted crop production.

Implement new land developments to promote the conservation or improvement of biodiversity by carrying out one of the following developments:

Widened shrubby or wooded riparian strip
Hedge or wooded island

Reduce the proportion of eligible crop areas occupied by corn (grain or forage) or soybeans, compared to the average proportion of the five years preceding the first year of participation, until this proportion reaches 60%, by replacing it with the following crops in a minimum proportion of 5% per year during the first or second year of participation:

Practice of promoting balanced management of crop nutrients by reducing the use of mineral nitrogen fertilizer.

This practice is part of the Agro-Environmental Remuneration because herbicides represent approximately 70% of pesticide sales in Quebec for the agricultural sector. Alternative solutions to their use exist.

The practice of off-season soil protection is part of the Agri-Environmental Remuneration since precipitation, snowmelt and wind can cause significant water and wind erosion.

On the scale of a cultivated hectare, this can result in the loss of several tonnes of soil each year, detrimental both to the productivity of the fields, but also, in particular, to the quality of surface water in agricultural watersheds.

The Ministerial Initiative for Agri-Environmental Compensation is a program of the Ministry of Agriculture, Fisheries and Food of Quebec (MAPAQ), the administration of which has been entrusted to La Financière agricole du Québec (FADQ).

The Mining Research and Innovation Support Program (PARIDM) is intended for companies in the mining industry in Quebec as well as those offering goods and services to this sector. The objective of the program is to support companies in carrying out their research and development projects in order to innovate and improve the competitiveness of the mining industry in Quebec, according to at least two dimensions of sustainable development (environmental, economic and social). This program has been offered since April 2017 and is now renewed until March 31, 2025.

The investment line of credit is a completely different financial product from the secured loan . It allows you to quickly make funds available to you. It is suitable for you if you regularly have investment and financing needs. To do this, you must have detailed planning of your investment projects.

SODEC’s Investment Bank provides loans and loan guarantees to Quebec cultural businesses. The financial support is meant to:
1. support the development of all their activities;
1. enable the realization of their expansion potential;
2. ensure their sustainability, among other things, through succession or the transfer of businesses;
3. strengthen and maintain Quebec ownership;
4. ensure the financing of promising projects;
5. support digital development.

This program, administered by SODEC, takes the form of a loan guarantee or, exceptionally, can be offered in the form of a direct loan that can cover a maximum of 75% of the advance refundable tax credit. SODEC guarantees the lender the repayment of 100% of the principal balance of the loan and also 100% of accrued interest and collection disbursements, without exceeding 15% of the principal balance on the date of the loan reminder.

This program, administered by SODEC, takes the form of a loan guarantee or, exceptionally, can be offered in the form of a direct loan that can cover a maximum of 75% of the anticipated refundable tax credit.

SODEC guarantees the lender the reimbursement of 100% of the principal balance of the loan and also 100% of the accrued interest and recovery expenses, without exceeding 15% of the principal balance on the date of the loan recall.

For the purposes of applying this program, the lender must be a bank within the meaning of the Bank Act (LC, 1991, c.46) or a caisse within the meaning of the Act respecting financial services cooperatives (RLRQ, cC-67.3).

This program, administered by SODEC, takes the form of a loan guarantee or, exceptionally, can be offered in the form of a direct loan that can cover a maximum of 90% of the advance refundable tax credit. SODEC guarantees the lender the repayment of 100% of the principal balance of the loan and also 100% of accrued interest and collection disbursements, without exceeding 15% of the principal balance on the date of the loan reminder.

This program, administered by SODEC, takes the form of a loan guarantee or, exceptionally, can be offered in the form of a direct loan that can cover a maximum of 75% of the advance refundable tax credit. SODEC guarantees the lender the repayment of 100% of the principal balance of the loan and also 100% of accrued interest and collection disbursements, without exceeding 15% of the principal balance on the date of the loan reminder.

The Government of Quebec uses mobilizing projects to provide financial support to private companies so that they can pool their efforts to successfully complete a project to develop an innovative product or process, by mobilizing universities, public research centers and SMEs. More specifically, a mobilizing project:

Is driven by industry vision and leadership;
Takes concrete form through the development, in the targeted sectors of activity, of new products and processes;
Helps to accelerate innovation and its integration into solutions that will give Quebec businesses a competitive advantage and generate maximum economic benefits for Quebec;
Brings together several partners, some of which11 do not receive financial assistance under the programme, who all participate in the financing and implementation of the project while sharing the resulting intellectual property;
Is managed by an NPO, existing or created specifically to carry out the planning, monitoring and control of the activities and costs of carrying out the project, as well as to report on them to the government. This NPO is unanimously designated by the partners.

The Productivity Innovation initiative, which aimed to support companies on strategic, technological and financial levels to ensure the success of projects aimed at improving productivity, is now over.

Through this program, SODEC contributes to the consolidation of broadcasting venues essential to the development and diversity of Quebec talent.

The grand V initiative aims to stimulate your investments and accelerate your shift towards innovation and sustainable productivity in order to propel the growth of your business.

The grand V initiative offers you not only financing and technological support to support the implementation of your innovation and sustainable productivity projects, but also a whole range of complementary tools to inspire and guide you.

In addition, with the grand V duo, a combination of financing and technological support, you could be eligible for a bank of hours with our innovation experts.

The Leverage Loan Guarantee is intended for entrepreneurs who are at the business creation stage. The leverage loan guarantee offers access to financing of up to $100,000 without taking any mortgage on moveable or immoveable property.

The FRONTIERE Program targets Quebec exporting companies in the manufacturing or primary sectors, whose turnover is significantly affected by the increase in American customs tariffs.

Through the Forestry Financing Program, FADQ can guarantee an outstanding loan of $750,000 per forestry operation.

Purchase of fishing equipment;
Purchase of safety equipment related to fishing activity.

Development of sustainable access to fishing activities;
Construction or renovation of fishing facilities;
Purchase of equipment related to fishing facilities.

The Financing Fund for Hotel Establishments (PADAT section 2) is part of the perspective of responding to a significant need for renewal of infrastructure in the hotel accommodation sector. Read the contents of note number1. This component aims to improve the state of the hotel infrastructure and add tourist accommodation units.

Facilitate the acquisition of businesses, boats, fishing equipment, fishing licenses and commercial fishing quotas.

Promote the establishment of a first commercial fishing business by fishermen, including the next generation.

Avoid the loss of assets, ensure the survival of fishing companies, protect jobs in supported companies and enable the recovery of the company’s financial situation.

This simplified component of the EcoPerformance program offers a subsidy to greenhouse producers who wish to partially or completely heat their greenhouses with electricity and thus reduce their consumption of fuel oil or propane.

This simplified component of the EcoPerformance program offers a subsidy to supermarkets and convenience stores that wish to install a refrigeration system that runs on CO2 , which is not very harmful to the environment.

The financial aid measure is a framework allowing the financing of various biofood projects in the Nordic territory. To stimulate the development of the production, processing and marketing of Nordic biofood products in a sustainable manner.

The simplified component of the EcoPerformance program supports small energy consumers in the business sector who wish to heat their building with electricity instead of using fuel oil or propane. Read the contents of note number1 .

This simplified component of the EcoPerformance program offers a subsidy to maple syrup producers who wish to replace a maple water evaporator operating with fossil fuel with an evaporator operating with electricity.

The Bienergy component for the commercial and institutional sector (Bienergy CI) of the ÉcoPerformance program offers financial assistance for the installation of heating systems operating on bienergy (natural gas and electricity).

Buildings must be heated by natural gas (fossil or renewable). They must be for commercial, institutional, municipal use, or be multi-tenant buildings or mixed-use buildings.

The Energy Efficiency Measures Analysis component of the EcoPerformance program provides financial assistance to define and analyze measures to reduce GHG emissions from a building or industrial process.

It has two categories: standard analyses and complex analyses.

This program allows travel agencies, tour operators and incoming agencies to offer the Quebec population attractive, reduced-price packages, without air transportation.

Accelerate the growth of productivity of Quebec businesses through an innovative technological transition or the acquisition of new technologies
Promote the realization of investment projects in Quebec as part of the establishment or expansion of businesses here or elsewhere

Accelerate the realization of an investment project for your company by allowing the use of studies prior to your investment project, i.e. feasibility studies and a digital diagnosis.

Increase the presence of Quebec companies in global supply chains by supporting them in their more complex internationalization strategies

Reducing the environmental footprint of Quebec businesses, particularly through the adoption of clean technologies

The Energy Management component of the EcoPerformance program provides financial assistance for the implementation of an energy management system and practices aimed at improving the energy efficiency of a site or organization to reduce their GHG emissions.

The Implementation of major industrial projects component of the ÉcoPerformance program offers financial assistance to emitters subject to the cap-and-trade system for emissions allowances (SPEDE) and to voluntary members for projects leading to the reduction of their GHG emissions.

This tax measure aims to consolidate the development of information technology (IT) throughout Quebec. It allows specialized companies that carry out innovative activities with high added value in the IT sector to obtain a tax credit of up to an annual maximum of $25,000 per eligible employee .

The Development Loan Guarantee is designed to enhance intervention in higher risk files demonstrating potential profitability and to contribute to food self-sufficiency. It addresses startups and expansion projects, businesses in emerging sectors, and businesses with low equity. This program covers all production sectors.

Whether it is an equity investment or a combination of financing solutions, debt, equity, quasi-equity, our major accounts team can offer you the leeway you need to achieve your ambitions. Investing in growing and established companies in Quebec, we stand out for our vision focused on economic development and our desire to ensure the sustainability of Quebec companies.