
Chantier de l'économie sociale Trust — Operations Patient Capital Loan
At a glance
- From $50,000 to $250,000
- Up to 35% of project cost
- Open Date : August 18, 2022
- Health care and social assistance
Overview
Get a loan from the trust between $50,000 and $250,000 to cover 35% of the costs directly associated with the operational needs.
Activities funded
The eligible projects for the Patient Capital Loans grant include: - Operations development or improvements - Adaptation of products and services - Start-up and expansion
Eligibility
To be eligible for the Patient Capital Loans from the Chantier de l'économie sociale Trust, the social economy enterprises, non-profit organizations, and cooperatives must meet the following criteria: 1. The majority of employees must live in Québec. 2. Business assets are under one hundred million dollars ($100 million) or capital under fifty million dollars ($50 million). Eligible Projects include: - Operations development or improvements - Adaptation of products and services - Start-up and expansion Ineligible Enterprises are: - Those whose appointment processes for governing bodies don't ensure a preponderance of civil society stakeholders - Enterprises that exclusively offer educational services or residential rental housing services - Enterprises whose activities result in the substitution of jobs held or to be held by public sector employees - Private enterprises - Public bodies Ineligible Projects include: - Pre-start-up, recovery, refinancing of existing debts, early repayment of a long-term loan with the goal of lowering the overall costs of financing - Financing activities that result in the substitution of jobs held or to be held by public sector employees.
Who is eligible?
This grant is available to Québec-based social economy enterprises, which include non-profit organizations and cooperatives, provided the majority of their employees reside in Québec and they meet certain asset or capital thresholds. Ineligible applicants include private enterprises, public bodies, and those falling under specified exclusions such as entities offering exclusively educational services or engaged in sensitive sectors.
Who is not eligible
This grant excludes certain companies and industries due to their status or main activity. The restrictions ensure that funds are directed towards enterprises that align with the grant's objectives.
- Private enterprises.
- Public bodies.
- Enterprises whose appointment processes for governing bodies don’t ensure a preponderance of civil society stakeholders.
- Enterprises that exclusively offer educational services or residential rental housing services.
- Enterprises whose activities result in the substitution of jobs held or to be held by public sector employees.
- Enterprises that work in excluded and sensitive sectors.
Eligible expenses
Eligible expenses for this grant include: - Working capital - Equipment acquisition (office, computers, vehicles, machinery and tools) - Absorb operational deficits during start-up - Inventory - Leasehold improvements - Upgrading the enterprise’s capital - Introducing new products to the market - All other needs related to operations
How to apply
Of course! Please provide the French text you would like me to translate into English.
- Verify the eligibility of the company according to the criteria mentioned in the investment policy.
- Prepare the necessary documents for the grant application.
Of course! Please provide the French text you would like me to translate into English.
- Fill out the online application form on the website of the Social Economy Trust.
- Attach the requested documents (business plan, financial statements, etc.).
Of course! Please provide the French text that you would like me to translate into English.
- Wait for the application to be processed by the Trust of the Site.
- Prepare arguments to defend the application, if necessary during a possible interview or meeting.
Additional information
- The patient capital loans are available for Quebec social economy enterprises, non-profit organizations, and cooperatives where the majority of employees live in Quebec. - Eligible projects include operations development, adaptations of products and services, start-up, and expansion. - Ineligible enterprises include those with governance processes not ensuring a preponderance of civil society stakeholders and those exclusively offering educational or residential rental housing services. - Ineligible projects include pre-start-up, recovery, refinancing of existing debts, and activities resulting in job substitution of public sector employees.
Frequently Asked Questions about the Chantier de l'économie sociale Trust — Operations Patient Capital Loan Program
What is the Chantier de l'économie sociale Trust — Operations Patient Capital Loan?
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Is the Chantier de l'économie sociale Trust — Operations Patient Capital Loan a grant, loan, or tax credit?
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