Tourist Attractions Development Support Program (PADAT) – Stream 2: Financing funds for hotel establishments .
$5,000,000
Grant, Loan, Investment
Description:
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.
Comments on Funding:
A repayable contribution in the form of a loan;
Minimum amount of financial assistance: $100,000;
Maximum amount of financial assistance: $5 million;
Minimum contribution from private sources: equivalent to at least 20% of eligible expenses or at least 10% of eligible expenses in the case of a project from a community or an indigenous nation recognized by the National Assembly as well as in the case of a project carried out in the Magdalen Islands;
Financial assistance for a maximum period of 20 years;
A moratorium on capital repayment of up to 24 months and capitalizable interest for the duration of the moratorium;
The financial intervention is subject to the rules for accumulating government assistance, which correspond to a maximum of 50% of the total eligible cost of the project for for-profit businesses, 80% for non-profit organizations (NPOs) and cooperatives and 90% of the total eligible cost for projects of a community or an indigenous nation recognized by the National Assembly or any group of these clienteles, as well as for projects located in the Magdalen Islands.
Other conditions may apply.
Applications are accepted on an ongoing basis.
Eligibility:
Your business is eligible if it is a for-profit business, a non-profit organization (NPO) or a cooperative, legally constituted in Quebec as well as the indigenous communities and nations recognized by the National Assembly or any group of these clienteles.
Application Steps:
You must complete and return the form* – financial request – Section 2 accompanied by the documents indicated in the form to: IQtourisme@invest-quebec.com For more information, contact our Reception and Information Service at 1 844 474-6367 .
*Please save the form to your computer before completing it with Adobe Reader (version 10 or higher).
Other conditions may apply.
Documentation Needed:
No specific documents are listed.
Other Things to Note:
Your business must meet the following conditions:
Be registered on the BonjourQuébec.com Opens a new window website , with the exception of start-up projects;
Carry out its activities in Quebec;
Demonstrate medium-term profitability prospects;
Be considered a hotel-type accommodation establishment;
Possess one or more documents that demonstrate commitment to a structured approach to sustainable development or organizational social responsibility (CSR) and/or commit to favoring sustainable construction principles for the work to be carried out.
Other conditions may apply.
About the author
Maurice
