Tourism Business Development Fund
$500,000
Loan
Description:
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.
Comments on Funding:
Funding takes the forms of loans ranging from $50,000 to $500,000.
Continuous Intake
Eligibility:
Applicants must:
1. be tourism sector businesses, whether existing or starting up;
2. be whose primary activity is in Quebec;
3. be for-profit enterprises;
4. be social economy enterprises (NPOs, cooperatives);
5. be business associations.
Application Steps:
Applicants must:
1. submit a financing request in writing;
2. present their project or their company’s profile clearly and in detail. They must provide all relevant information necessary for a comprehensive understanding of the project;
3. prepare their business plan and gather all relevant documents;
4. send all documents to The Fund;
5. present their project or business to the Fund’s portfolio manager during the arranged meeting;
6. receive an investment offer if the decision of the Investment Committee and the Board of Directors is positive.
Documentation Needed:
Applicants must provide:
1. their business plan including the development plan and the planned financial package;
2. their CV and that of key people in the company;
3. their financial statements (for an existing business);
4. their financial forecasts;
5. If applicable, description of current contracts (clients, suppliers, associates, employees or others).
Other Things to Note:
N/A
About the author
Maurice
