SADC Achigan-Montcalm Prêt fonds de roulement post-COVID (Post-COVID Working Capital Loan)
no fixed amount
Loan
Description:
The Post-COVID Working Capital Loan is aimed at growing businesses with liquidity challenges and facing the deadline for repaying the Canadian Business Emergency Account (CEBA) loan.
Comments on Funding:
Funding takes the form of a loan:
– Open loan (repayment in whole or in part at any time and without penalties);
– Amortization: 12 to 60 months;
– Interest: Base Rate + ( 3% or 4% depending on the risk);
– Guarantees: Personal guarantee of shareholders. No tangible guarantee;
– File opening fee: $0;
– Annual management fees: $0;
– No life insurance required;
– If applicable, no shareholders’ agreement required.
Continuous Intake
Eligibility:
Applicants must:
1. be growing businesses with liquidity challenges;
2. be facing the deadline for repaying the Canadian Business Emergency Account (CEBA) loan;
3. be located in the Achigan-Montcalm region.
Application Steps:
Applicants must apply online.
Documentation Needed:
Applicants must provide proof of repayment of original CEBA financing.
Other Things to Note:
About the author
Maurice
