DEL — Loan for Growing Collective Enterprises QC Canada

DEL — Loan for Growing Collective Enterprises

Longueuil, QC, Canada
Provides up to $150,000 in financing to support the expansion of collective enterprises within the Longueuil region, covering a range of eligible expenses from equipment purchase to marketing costs.
grant_single_labels|summary
grant_single_labels|preview
grant_single_labels|projects
grant_single_labels|admissibility
grant_single_labels|criteria
grant_single_labels|register
grant_single_labels|otherInfo
grant_single_labels|contact

grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|maxCount
  • grant_single|projectCostPercent
grant_single|deadlines
  • grant_single|openingDateJuly 09, 2024
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|open

grant_single_labels|preview

The Loan for Growing Collective Enterprises aims to finance the growth of collective enterprises, enhancing their contribution to the social economy. Eligible activities include capital expenses for equipment, technology purchases, marketing costs, working capital for the first year, and specialized consulting fees. The loan offers financing up to $150,000 with terms of up to 7 years and no collateral required.

grant_single_labels|projects

Yes, certain projects and activities are eligible for this grant, particularly those related to purchasing equipment, marketing costs, and working capital.
  • Capital expenses for equipment, machinery, vehicles, incorporation fees, and other related expenses (excluding goodwill)
  • Expenses related to purchasing technology, software, patents (excluding R&D expenses)
  • Working capital strictly related to operations in the first year of the project
  • Marketing and market development expenses
  • Specialized consulting fees
grant_single|admissibleProjectsExample

$15,000

Marketing campaign for an artisanal bakery to expand customer base

$75,000

Acquisition of new pottery kilns for a social enterprise supporting local artisans

$70,000

Purchase of waste management technology for a community recycling initiative

$35,000

Implementation of an advanced inventory management system for a local hardware store

$95,000

Purchase of eco-friendly delivery vehicles for local grocery cooperative

$35,000

Hiring a specialized consultant to develop a strategic growth plan for a local farmers' market

grant_single_labels|admissibility

This grant supports the growth of collective enterprises in compliance with the Social Economy Act, operating in the DEL region with specific financial and operational criteria.
  • Be legally constituted as per Part III of The Québec Companies Act and operate in compliance with the provisions of the Social Economy Act.
  • Have completed the startup and implementation phase and moved on to the growth phase.
  • Operate in an eligible industry in a market economy context, excluding organizations accountable to the Québec government or that manage a Québec government program (e.g., day care centres, home support services, housing projects, education services).
  • Be located in the DEL region or plan to be.
  • Have a majority of permanent jobs that are not subsidized by ad hoc programs.
  • Generate independent revenues representing 60% of total revenues.
  • Have a net worth of at least 15% of the total asset.
  • Submit a project for which government financing and DEL financing combined cover a maximum of 80% of the project expenses.
  • Purchase liability assurance for company administrators.
  • Be a business member of the Pôle de l’économie sociale de l’agglomération de Longueuil.
  • Demonstrate that the business is not in default to the government or its creditors.

grant_eligibility_criteria|who_can_apply

The Loan for Growing Collective Enterprises is available for businesses that have moved beyond the startup phase into growth, operate in an eligible industry within a market economy context, and are compliant with the Social Economy Act. Specific eligibility requirements focus on organizational structure, location, revenue breakdown, and financial standing.
  • Legally constituted as per Part III of The Québec Companies Act
  • Operate in compliance with the Social Economy Act
  • Moved from startup to growth phase
  • Operate in an eligible industry within a market economy
  • Located in the DEL region or plan to be
  • Majority of permanent jobs not subsidized by ad hoc programs
  • Generate 60% of total revenues independently
  • Net worth of at least 15% of total assets
  • Government and DEL financing combined cover a maximum of 80% of project expenses
  • Purchase liability assurance for company administrators
  • Business member of the Pôle de l’économie sociale de l’agglomération de Longueuil
  • Not in default to the government or creditors

grant_eligibility_criteria|who_cannot_apply

Certain types of companies are not eligible for this grant. These include organizations accountable to the Québec government or manage a Québec government program.
  • Day care centres
  • Home support services
  • Housing projects
  • Education services

grant_eligibility_criteria|eligible_expenses

The eligible expenses for this loan include a variety of capital, technology, working capital, and marketing costs. Below is a detailed list:
  • Capital expenses for equipment, machinery, vehicles, incorporation fees and other related expenses, with the exception of goodwill
  • Expenses related to purchasing technology, software or software packages, patents or any other related expenses, with the exception of R&D expenses
  • Working capital strictly related to operations in the first year of the project
  • Marketing and market development expenses, as well as specialized consulting fees

grant_eligibility_criteria|zone

The eligible geographic zone for this grant is the DEL region.
  • Located in the DEL region
  • Plan to be located in the DEL region

grant_single_labels|criteria

The evaluation and selection criteria for the Loan for Growing Collective Enterprises include eligibility based on legal constitution, operational phase, industry, location, revenue independence, job subsidies, net worth, financing mix, insurance, and business membership. Key documents such as financial statements, forecasts, CEO profile, and business plan are also required.
  • Be legally constituted as per Part III of The Québec Companies Act and operate in compliance with the provisions of the Social Economy Act.
  • Have completed the startup and implementation phase and moved on to the growth phase.
  • Operate in an eligible industry in a market economy context, excluding organizations accountable to the Québec government or that manage a Québec government program.
  • Be located in the DEL region or plan to be.
  • Have a majority of permanent jobs that are not subsidized by ad hoc programs.
  • Generate independent revenues representing 60% of total revenues.
  • Have a net worth of at least 15% of the total asset.
  • Submit a project for which government financing and DEL financing combined cover a maximum of 80% of the project expenses.
  • Purchase liability assurance for company administrators.
  • Be a business member of the Pôle de l’économie sociale de l’agglomération de Longueuil.
  • Demonstrate that the business is not in default to the government or its creditors.
  • Submit financial statements for the past 3 years and current year.
  • Provide projected financial forecasts for the next 2 years of the business.
  • Include the profile of the CEO and composition of the Board of Directors.
  • Present a business model and revenue model or business plan.

grant_single_labels|register

  • Step 1: Legal constitution and compliance
  • Ensure your enterprise is legally constituted as per Part III of The Québec Companies Act.
  • Operate in compliance with the provisions of the Social Economy Act.
  • Step 2: Growth phase verification
  • Confirm that your enterprise has completed the startup and implementation phase and has moved on to the growth phase.
  • Step 3: Industry and location eligibility
  • Verify that your enterprise operates in an eligible industry within a market economy context.
  • Ensure your enterprise is located in the DEL region or plans to be.
  • Step 4: Revenue and job criteria
  • Confirm that the majority of permanent jobs are not subsidized by ad hoc programs.
  • Ensure that independent revenues represent 60% of total revenues.
  • Step 5: Financial health and worthiness
  • Ensure your enterprise has a net worth of at least 15% of the total asset.
  • Submit a project where government and DEL financing combined cover a maximum of 80% of the project expenses.
  • Purchase liability assurance for company administrators.
  • Step 6: Membership and compliance checks
  • Become a business member of the Pôle de l’économie sociale de l’agglomération de Longueuil.
  • Demonstrate that the business is not in default to the government or its creditors.
  • Step 7: Documentation preparation
  • Prepare financial statements for the past 3 years and the current year.
  • Project financial forecasts for the next 2 years of the business.
  • Compile the profile of the CEO and the composition of the Board of Directors.
  • Develop a business model and revenue model or a detailed business plan.
  • Step 8: Booking an appointment
  • Contact DEL to book an appointment for support services and guidance on your financing needs.

grant_single_labels|otherInfo

Here are some additional details about the provided grant:
  • Maximum loan amount: $150,000
  • Loan term: Repayable over 5 years or up to 7 years under certain conditions
  • Principal payments can be postponed for up to 12 months
  • No collateral required
  • Interest rates are competitive and risk-based
  • Eligible expenses include capital expenses, technology purchases, working capital for the first year, and marketing costs
  • Main eligibility criteria: Legally constituted, moved beyond startup phase, located in DEL region, not heavily government-subsidized, and meet specific financial health standards
  • Required documents: Financial statements, financial forecasts, CEO profile, Board of Directors composition, and business/revenue models

grant_single_labels|contact

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