loans ranging from $20,000 to $75,000
Commercialization stage: significant sales expected within three months after receiving a loan
Conditions
- requires a minimum down payment of 5% of the value of the project;
- maximum amortization period of 8 years;
- interest rate calculated based on a base rate plus a percentage risk premium determined by the business’s risk profile;
- possible moratorium when the loan is disbursed and during its term;
- file set-up fee of $350;
- a loan management fee (charged each year on the anniversary of the loan and calculated as follows:
- 0.40% of the outstanding loan balance, with a minimum fee of $200 and a maximum of $1,800.
- the business must contribute to one or more of the UN’s Sustainable Development Goals (SDGs) by being: an impact business (a business whose products or services offer a solution to a social or environmental challenge); OR an eco-responsible business (committed to adopting or enhancing sustainable business practices over the course of its financing). To find out more about sustainable development.
Documents required to make an application
- a business plan;
- two-year projected financial statements;
- CVs of the shareholders.
Important information:
- financing may be used for the acquisition of tangible and intangible assets, working capital related to the business’s operations after the date the loan is granted, the development and commercialization of new products and services for existing businesses, and the purchase or buyback of shares.
- most sectors are eligible;
- interest rates are calculated based on the level of risk;
- amortization periods range from 2 to 8 years;
- possibility of a moratorium both when the loan is granted and during its term;
- possibility of a moratorium during parental leave;
- analysis and ongoing file management fees apply.