Strategic Business Retention and Emergency Aid Support Program (PARESAU) Stream 3: Support measures for timber producing and exporting companies affected by countervailing and anti-dumping duties
$1,000,000
Grant, Loan, Investment
Description:
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.
Comments on Funding:
Only projects that successfully pass the eligibility and need for assistance stages can be awarded assistance.
Financing takes the form of a loan or a loan guarantee. A loan guarantee is preferred.
The minimum amount of assistance from Investissement Québec is more than $50,000 with a maximum of $1 million.
Companies that receive financial assistance in the form of a loan or loan guarantee will be able to see the equivalent of 25% of the funding granted converted into a non-repayable contribution, on the capital portion only.
Companies eligible for the non-repayable contribution will be contacted by Investissement Québec in the coming weeks and a response from them will be required no later than May 31, 2024.
To be eligible for the non-refundable contribution:
businesses must still be in business;
the businesses must not be under the protection of the Companies’ Creditors Arrangement Act (RSC 1985, chapter C-36) or the Bankruptcy and Insolvency Act (RSC 1985, chapter B-3);
the conversion into a non-repayable contribution of 25% of the funding granted must be carried out no later than June 30, 2024;
The maximum forgiveness is $50,000 per financial aid granted.
March 31, 2025
Eligibility:
The following companies are eligible for the program:
The for-profit company;
The collective enterprise (cooperative and NPO) having commercial activities;
The sole proprietorship (self-employed or independent worker);
The business must be registered in the Registre des entreprises du Québec (REQ) and have its head office in Quebec. A sole proprietorship does not have to be registered in the REQ if it operates its business under its family name.
Application Steps:
The submission of the complete financial assistance file must be sent to the following email address: aidefinanciere@invest-quebec.com
Documentation Needed:
No specific documents are listed.
Other Things to Note:
Other conditions may apply
About the author
Maurice
