DEL — Equipment and Technology Loan
Longueuil, 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|openingDateOctober 14, 2023
- grant_single|closingDateJuly 09, 2024
- grant_single|grantStatusClosed
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
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|projects
The grant is eligible for projects or activities related to purchasing equipment, technology, and productivity improvements.
- 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_single|admissibleProjectsExample
$100,000
Upgrading kitchen facilities with new energy-efficient appliances for a community center
$150,000
Developing a tech-driven recycling plant with new sorting and processing machinery
$120,000
Purchasing and installing a new ERP software system for inventory management
$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
To be eligible for this grant, businesses need to meet several criteria related to their legal constitution, location, industry operations, and project specifics.
- 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
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
Yes, there are eligible expenses for this grant which encompass a range of purchase and setup costs related to equipment, technology, and productivity improvements.
- 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
The eligible geographic zones for this grant are within the Développement économique de l'agglomération de Longueuil (DEL) region. Companies must be located in this region or plan to be.
- Be located in the DEL region
- Plan to be located in the DEL region
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
- Step 1: Ensure Eligibility
- Verify that your business is legally constituted.
- Ensure your business is located in the DEL region or plans to be.
- Operate in an eligible industry with B2B value-added services or products.
- Confirm the project will create and/or maintain jobs.
- Make sure government financing and DEL financing combined cover a maximum of 50% of the project expenses.
- Prepare realistic financial forecasts showing profitability and growth potential.
- Ensure the business and entrepreneur are not in default to the government or creditors and are not the subject of any litigation.
- Step 2: Gather Documentation
- Collect financial statements for the past 3 years and the current year.
- Prepare projected financial forecasts for the next 2 years.
- Develop a business model and revenue model or business plan.
- Obtain a cost quote for the project.
- Compile the entrepreneur’s personal financial statement and credit report.
- Step 3: Submit Application
- Submit all required documents, including financial statements, projections, business plan, cost quote, and personal financial statement and credit report.
- Step 4: Consultation
- Book an appointment with DEL for personalized support and to ensure everything is in order.
grant_single_labels|otherInfo
This loan allows businesses to finance various aspects of their operations and provides flexible repayment options.
- The loan amount can go up to $150,000.
- Repayment can be scheduled over 5 years, or in some cases, up to 7 years.
- Principal payments can be postponed for up to 12 months, or in some conditions, up to 24 months.
- Collateral is normally required for this type of financing.
- The loan is repayable at any time without any penalties.
- Interest rates are competitive and risk-based.
- Eligible expenses include costs related to new or used equipment, software, installation, training, production area setup, and productivity improvement.
- Main criteria for eligibility include being legally constituted, located in the DEL region or planning to be, operating in an eligible industry, and submitting a project to create or maintain jobs.
- Other requirements involve realistic financial forecasts, current financial statements, and a solid business plan.
grant_single_labels|contact
450 645-2335
