Créavenir
Canada
Help for entrepreneurs 18 to 39 who can't get financing
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
Loans and Capital investments
Expert Advice
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Desjardins
grant_single|status
grant_card_status|open
grant_single_labels|preview
The program provides young entrepreneurs who want to start their own business or who have a business that's less than 3 years old with coaching, mentoring, financial aid in the form of loans and grants.
grant_single_labels|terms_and_conditions
The Créavenir program provides tailored financial support to young entrepreneurs through a combination of credit lines, business cards, and grants. It is designed to aid the start-up phase by offering competitive rates and potential credit increases based on performance.
- Access to a line of credit of up to $15,000 at an interest rate of prime rate + 0.5% for a maximum period of 5 years.
- Availability of a Business card with a credit limit of up to $1,000, subject to the same interest rate conditions.
- Eligibility for a grant of up to $5,000, which can be leveraged to secure additional financing sources.
- Potential to increase the line of credit up to $30,000 after six months, contingent upon the entrepreneur's needs and credit score.
grant_single_labels|projects
This grant offers vital support for young entrepreneurs looking to start or enhance a business that is still in its infancy. The eligible activities focus on facilitating effective business planning, accessing mentorship, and securing initial funding to help overcome financial barriers.
- Preparation and submission of a viable business plan to a local entrepreneur support agency.
- Engagement in business coaching and mentoring throughout the start-up phase.
- Utilization of a line of credit at a competitive rate to support business operations and growth.
- Application for a business credit card to manage early-stage business expenses.
- Eligibility for a strategic grant to leverage additional financing sources.
grant_single|admissibleProjectsExample
$ 5,000
Launching a mobile dog grooming service
$ 5,000
Starting a mobile coffee shop business
$ 5,000
Establishing an eco-friendly fashion line
$ 5,000
Expanding an organic soap business
$ 5,000
Launching a local craft brewery
$ 5,000
Creating a digital marketing agency
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's profile and business viability.
- The applicant must be between 18 and 39 years old.
- The applicant should have a viable plan to start a new business or grow an existing business that is less than 3 years old.
- The applicant must lack access to conventional financing or sufficient funding.
- The applicant must be a member of a participating Desjardins caisse or agree to become one.
grant_eligibility_criteria|who_can_apply
The Cr?avenir program is designed to support young entrepreneurs in Canada aged 18 to 39 who are looking to either start a new business or grow an existing one that is less than three years old. Applicants must demonstrate they lack sufficient access to conventional financing and should be or become members of a participating Desjardins caisse. The program provides financial aid, loans, and mentoring to eligible candidates who meet these conditions.
grant_eligibility_criteria|eligible_expenses
The Cr?avenir program offers young entrepreneurs support for both starting new businesses and growing existing ones. While specific eligible projects are not detailed, activities would generally involve viable business start-ups and expansions.
- Starting a new business with a viable business plan.
- Expanding an existing business that is less than 3 years old.
grant_single_labels|criteria
There are specific evaluation and selection criteria for the Cr?avenir grant, which focus on the eligibility of the applicants and the feasibility of their business plans. Below is a list of the criteria used to evaluate and select grant recipients:
- Aged between 18 and 39 years old.
- Have a viable plan to start a new business or grow an existing business that's less than 3 years old.
- Lack access to conventional financing or sufficient funding.
- Be a member of a participating Desjardins caisse or agree to become one.
- Personal investment and guarantees are insufficient for conventional financing.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Prepare Business Plan
- Draft a comprehensive business plan demonstrating the viability of your new or existing business.
- Include your personal investment details, expected assets, and funding requirements.
- Step 2: Present Business Plan
- Bring your prepared business plan to your local entrepreneur support agency that partners with Cr?avenir.
- Step 3: Project Evaluation
- If your business plan is deemed viable, the agency will verify your eligibility based on investment and guarantee insufficiencies.
- Step 4: Acceptance and Mentoring
- If accepted, you will receive mentoring support during the start-up phase of your business.
- Step 5: Financial Aid Access
- Qualify for a line of credit up to $15,000 at the prime rate + 0.5% for 5 years, a Business card with a credit limit up to $1,000, and possibly a grant up to $5,000.
- Step 6: Follow-up and Potential Increase
- After at least 6 months, your line of credit may be increased to a maximum of $30,000 based on credit needs and scores.
grant_single_labels|otherInfo
The Cr?avenir program provides support to young entrepreneurs in the form of coaching, mentoring, and financial aid, with eligibility requirements including age limits and membership in a participating Desjardins caisse.
- The loan has a 5-year period with a prime rate + 0.5%.
- You can access a business card with a limit of up to $1,000 at prime rate + 0.5%.
- The grant can be used to qualify for other financing sources.
- You need a viable business plan and should approach a local entrepreneur support agency for the presentation.
- There's potential for a line of credit increase based on needs and credit score after a minimum of 6 months.
