MRC Abitibi-Ouest — CRÉAVENIR Program
QC, Canada
Créavenir supports young entrepreneurs in Abitibi-Ouest with financing
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- grant_single|timelineUnspecified
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Grant and Funding
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- MRC Abitibi-Ouest
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The Créavenir program, a partnership between MRC d'Abitibi-Ouest and Desjardins, aims to support young entrepreneurs aged 18 to 35 by providing financial leverage for startup or business development projects lacking conventional financing access. It offers a maximum of 25% of the project cost up to $5,000 in non-repayable aid, alongside a potential credit line of up to $15,000.
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The Programme CRÉAVENIR supports entrepreneurship projects by young individuals, providing financial assistance to those without the necessary guarantees for conventional financing. Eligible projects focus on the start-up and development of businesses led by young entrepreneurs within the specified region.
- Start-up of a new business by young entrepreneurs aged 18 to 35.
- Development of an existing business that has been operational for less than three years.
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Eligibility for this grant is determined by specific requirements pertaining to the applicant's age, business status, financial situation, and geographical location.
- The applicant must be aged between 18 and 35 years.
- The applicant must have a viable business startup or a developmental project for an existing business that is less than 3 years old.
- The source of funding for the business must be personal.
- The applicant must not have sufficient guarantees or the required down payment for access to conventional financing.
- The applicant must be a member of one of the participating Desjardins caisses or become one.
- The applicant must reside in the territory of the MRC d’Abitibi-Ouest.
grant_eligibility_criteria|who_can_apply
This grant is specifically to assist young entrepreneurs between the ages of 18 and 35 who are launching a new business or developing an existing one that has been established for less than 3 years. Applicants must not have the necessary collateral or down payment required for conventional financing. They must reside in the territory of the MRC d’Abitibi-Ouest and should be members or become members of one of the participating Desjardins caisses. The project must be funded personally by the entrepreneur.
grant_eligibility_criteria|zone
This grant is focused on companies located in a specific geographical area specified by the program's terms. Eligibility is restricted to align with the regional development objectives of the funding partnership.
- Companies must be based in the territory of the MRC d’Abitibi-Ouest.
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Here are the steps to submit an application for this grant:
- Step 1: Business Plan Preparation
- Work with provided professionals to complete your business plan.
- Step 2: Membership Requirement
- Ensure you are a member of a participating Desjardins caisse or become a member.
- Step 3: Contact Development Advisor
- Contact a development advisor for more information on the application process.
- Step 4: Application Submission
- Prepare and submit your application, including the completed business plan and other supporting documents, as advised by the development advisor.
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The Programme CRÉAVENIR has certain additional details that applicants should know:
- This programme is a partnership initiative led by the MRC d’Abitibi-Ouest and Desjardins, emphasizing local economic development.
- Financial aid provided may be both non-repayable and repayable, highlighting the importance of understanding each component.
- Although no minimum personal investment is required, successfully obtaining funds may depend on securing additional financing from other programmes.
- Applicants must engage with professional consultants to complete their business plan as a mandatory pre-requisite before submitting the application.
- The margin of credit offered comes with a competitive interest rate pegged to the prime rate plus a 0.5% markup.
- Applicants must either be existing members of participating Desjardins caisses or commit to becoming members.
- There's an emphasis on applicants receiving ongoing support and advisement throughout their entrepreneurial journey.
Apply to this program
Empowering Young Entrepreneurs in Abitibi-Ouest
Programme CRÉAVENIR is a dynamic initiative aimed at supporting young entrepreneurs aged 18 to 35 with insufficient financial backing. This grant provides crucial financial leverage to help these entrepreneurs access conventional credit or complete the required financing for their business projects.
Details of Programme CRÉAVENIR and its Benefits
Programme CRÉAVENIR emerges from a collaboration between the Municipalité régionale de comté (MRC) d’Abitibi-Ouest and Desjardins, specifically catering to the needs of young and budding entrepreneurs who are eager to start or develop their businesses in the region. This program stands as a financial beacon for those between the ages of 18 and 35, who envision innovative entrepreneurial ventures but face hurdles due to inadequate financial guarantees or initial funding that usually inhibits access to traditional financing avenues.
The program’s structure is cleverly designed to blend both non-repayable and repayable financial assistance, giving recipients a tailored financial solution that suits the nascent stages of their business development. An attractive feature of this support is the provision of a non-repayable grant amounting to 25% of the project cost, capped at $5,000, thereby easing the initial financial burden and fostering a more inviting environment for entrepreneurial risk-taking.
Furthermore, Programme CRÉAVENIR offers a line of credit that can extend up to $15,000, set at the preferential rate plus a slight margin of 0.5%, available for a tenure of up to five years. This aspect of the program provides a crucial financial buffer that can be instrumental in managing cash flows and meeting unexpected costs, thus adding a layer of financial security and flexibility.
Uniquely, this program doesn't impose a minimum personal investment requirement, making it particularly accessible to young entrepreneurs who are still in the nascent stages of wealth accumulation. However, applicants must be members or willing to become members of participating Desjardins credit unions, which integrates them into a supportive financial community that can offer additional resources and guidance.
The application process for Programme CRÉAVENIR emphasizes detailed planning and preparedness. Prospective candidates are required to submit a business plan, which they can develop with the help of seasoned professionals provided by the program. This professional guidance not only aids in crafting a viable business strategy but also ensures applicants present a robust case that stands up to financial scrutiny, thereby increasing their chances of success in securing funding.
This program is intrinsically linked with local economic growth, as it mandates that the entrepreneurs reside within the MRC d’Abitibi-Ouest. This stipulation ensures that the funds injected through the program support and stimulate the regional economy, encouraging local job creation, innovation, and entrepreneurship. It also boosts the regional economy by fostering a new generation of business leaders committed to local development.
Finally, Programme CRÉAVENIR goes beyond mere financial aid. It reflects a comprehensive support system, where ongoing consultancy and expert advice accompany financial contributions. This dual approach increases the likelihood of business success and sustainability, ensuring that the supported ventures not only take off but thrive and contribute positively to the local economy.
Through this program, young entrepreneurs are empowered to transform their entrepreneurial aspirations into reality, fostering a vibrant economic infrastructure that can adapt and grow amidst a challenging business landscape. Programme CRÉAVENIR is an invaluable resource for the region, providing essential financial tools coupled with strategic insights needed for the sustainable growth of Abitibi-Ouest’s economic ecosystem.
