SADC des Sources Prêt Stratégie Jeunesse (Youth Strategy Loan)
$25,000.00
Loan
Description:
The Youth Strategy Loan offered by SADC des Sources is tailored to young entrepreneurs seeking financial support to initiate, acquire, or expand their businesses within MRC des Sources.
Comments on Funding:
Funding is a loan ranging from $5,000 to $25,000:
– Personal Loan;
– Interest holiday for 24 months (monthly repayment representing 1% of the loan applied to the principal). Thereafter, the interest rate is based on the residential mortgage rate for the remaining term + 3%;
– The maximum loan term is 7 years;
– Opening fees of 1% of the loan amount are required and can be reimbursed through relevant training activities for the business.
Continuous Intake
Eligibility:
Applicants must:
1. be young entrepreneurs;
2. be under 40 years old;
3. have projects that:
a) does not compete with existing businesses in the served territory or must demonstrate that the target market is not saturated;
b) must demonstrate its viability and enable the business to achieve good profitability;
c) have a management team possessing sufficient knowledge and expertise in the sector.
d) have owners providing equity or demonstrate that working capital is adequate to support the project;
e) must enable job creation or maintenance.
Application Steps:
For details about the application process, applicants must contact SADC des Sources:
Phone: 819 879-7147
Email: info@sadcdessources.com
Documentation Needed:
For details about the documentation requirements, applicants must contact SADC des Sources:
Phone: 819 879-7147
Email: info@sadcdessources.com
Other Things to Note:
About the author
Maurice
