SADC des Laurentides Stratégie jeunesse (Youth Strategy)

Funding is a loan ranging from a minimum of $5,000 to a maximum of $25,000:
– Interest rate based on the Bank of Canada’s prime rate plus 4%;
– Down payment: Flexible, depending on the type of project and guarantees;
– Interest-free period for the first 24 months;
– 3-month capital payment holiday for all loans;
– Maximum amortization of 7 years depending on project and collateral;
– Guarantees: personal guarantee and life insurance;
– Application fee of 1.5% of the loan amount requested, minimum $400;
– Annual management fee of $100. In the case of a second loan, the annual management fee is $50;
– No penalty for early repayment.