DEL — Equipment and Technology Loan
Boucherville, QC, Canada
The Equipment and Technology Loan offers financing of up to $150,000 to support businesses in acquiring equipment, technology, and improving productivity.
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|grantStatusClosed
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Manufacturing
grant_single|grantors
- Développement économique de l'agglomération de Longueuil (DEL)
- Longueuil City
grant_single|status
grant_card_status|closed
grant_single_labels|preview
The Equipment and Technology Loan offered by DEL aims to finance businesses in the Longueuil region for their equipment and technology investments. Eligible activities include purchasing new or used equipment, buying technology or software, covering installation and delivery fees, training costs, and expenses related to setting up a production area or improving productivity. The loan can be up to $150,000, with favorable terms including up to 24 months postponement of principal payments under certain conditions.
grant_single_labels|terms_and_conditions
The DEL - Equipment and Technology Loan provides financing to enhance efficiency and support technological advancements. The following modalities outline the financial structure and repayment flexibility for recipients.
- Maximum loan amount of $150,000.
- Combines with conditionally non-repayable financing covering up to 50% of external professional fees.
- Term loan repayable over 5 years or up to 7 years under specific conditions.
- Option to postpone principal payments for up to 12 months or up to 24 months under specific conditions.
- Collateral is generally required.
- Loan can be repaid at any time without penalty.
- Interest rate is competitive and risk-based.
grant_single_labels|projects
The Equipment and Technology Loan grant facilitates the enhancement of business operations through financial support for key investments. This includes the acquisition of equipment, technology, and the improvement of production areas to bolster efficiency and productivity.
- Purchase of new or used equipment.
- Acquisition of technology or software.
- Installation or delivery services for new assets.
- Training programs for employees to enhance skills.
- Setting up and optimizing production areas.
- Expenses aimed at increasing productivity and operational efficiency.
grant_single|admissibleProjectsExample
$ 100,000
Upgrading kitchen facilities with new energy-efficient appliances for a community center
$ 120,000
Purchasing and installing a new ERP software system for inventory management
$ 150,000
Developing a tech-driven recycling plant with new sorting and processing machinery
$ 150,000
Purchasing advanced 3D printing equipment for custom prosthetics manufacturing
$ 145,000
Establishing a digital art studio with latest graphic design software and hardware
$ 150,000
Setting up a new solar panel production area with automated machinery
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the business's legal status, location, industry, and financial health.
- The business must be legally constituted.
- The business must be located in the DEL region or planning to relocate there.
- The business must operate in an eligible industry providing value-added services or products generally intended for other businesses (B2B).
- The project must aim to create and/or maintain jobs.
- The combined government and DEL financing can cover a maximum of 50% of the project expenses.
- The project must be based on realistic financial forecasts that show profitability and growth potential.
- The business must provide current financial statements that show 20% equity after the project and demonstrate the ability to repay the loan.
- The business and entrepreneur must not be in default to the government or its creditors and must not be subject to any litigation.
grant_eligibility_criteria|who_can_apply
Yes, there are eligible types of companies for this grant. Companies must operate in an eligible industry and offer value-added services or products generally intended for businesses (B2B).
- Operate in an eligible industry
- Offer value-added services or products generally intended for businesses (B2B)
grant_eligibility_criteria|who_cannot_apply
The grant does not specify types of companies that are not eligible explicitly but provides a broad eligibility criterion that can indirectly exclude certain types of businesses. Based on the eligibility requirements, some companies may inherently not qualify if they do not meet these conditions.
- Companies not legally constituted.
- Companies not located in the DEL region or not planning to be.
- Companies not operating in an eligible industry with value-added services or products intended for B2B.
- Companies unable to submit a project that will create and/or maintain jobs.
- Companies that rely on government financing and DEL financing for more than 50% of project expenses.
- Companies unable to demonstrate realistic financial forecasts showing profitability and growth potential.
- Companies unable to provide current financial statements showing 20% equity after the project and the ability to repay.
- Companies in default to the government or creditors, or involved in litigation.
grant_eligibility_criteria|eligible_expenses
The grant covers specific expenses directly related to equipment, technology, and productivity improvements for the business.
- Cost of purchasing new or used equipment.
- Cost of purchasing technology or software.
- Installation or delivery fees.
- Training costs.
- Cost of setting up a production area.
- Expenses related to improving productivity.
grant_eligibility_criteria|zone
This grant is available to businesses that are located in or are planning to locate within the DEL region. The focus is on ensuring that recipients align with the DEL's economic development initiatives.
- Companies based in the DEL region in Longueuil, Quebec.
grant_single_labels|criteria
The Equipment and Technology Loan from DEL has specific evaluation and selection criteria to ensure that projects are financially viable and contribute to the local economy. The criteria include financial requirements, project specifics, and business eligibility requirements.
- Be legally constituted
- Be located in the DEL region or plan to be
- Operate in an eligible industry and offer value-added services or products generally intended for businesses (B2B)
- Submit a project that will create and/or maintain jobs
- Submit a project for which government financing and DEL financing combined cover a maximum of 50% of the project expenses
- Demonstrate that the project is based on realistic financial forecasts showing profitability and growth potential
- Provide current financial statements showing 20% equity after the project and the ability to repay
- Demonstrate that the business and entrepreneur are not in default to the government or its creditors, nor are they the subject of any litigation
- Submit financial statements for the past 3 years and the current year
- Submit projected financial forecasts for the next 2 years of the business
- Submit a business model and revenue model or business plan
- Submit a project cost quote
- Submit the entrepreneur’s personal financial statement and credit report
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Check Eligibility
- Ensure that your business is legally constituted and based in the DEL region or plans to be.
- Verify that your industry is eligible and that your project will maintain or create jobs.
- Confirm your business can provide the necessary financial statements and forecasts.
- Step 2: Prepare Documentation
- Gather financial statements for the past 3 years and the current year.
- Prepare projected financial forecasts for the next 2 years.
- Create a detailed business model, revenue model, or business plan.
- Obtain a project cost quote for the intended equipment or technology investments.
- Provide the entrepreneur's personal financial statement and credit report.
- Step 3: Book an Appointment with DEL
- Contact DEL to arrange a meeting for support with your application process.
- Utilize DEL’s free service to help tailor your application to meet grant criteria.
- Step 4: Submit Application
- Compile all required documents, ensuring all information is accurate and complete.
- Submit your application directly to DEL through their preferred method.
grant_single_labels|otherInfo
Here are additional relevant details for this financing program:
- The loan allows for a postponement of principal payments for up to 12 months, or under certain conditions, up to 24 months.
- Collateral is normally required for securing this type of financing.
- Loans are repayable at any time without incurring a penalty.
grant_single_labels|contact
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