DEL — Working Capital Loan

This grant is aimed at legally constituted businesses located in the DEL region that operate in eligible industries, offering value-added services or products intended for businesses. Applicants must demonstrate realistic financial forecasts, the creation or maintenance of jobs, and compliance with specific financial and legal criteria.

• 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

Who is eligible?

Yes, there are eligible types of companies for this grant offered by DEL - Développement économique de l'agglomération de Longueuil. To qualify, a company must be legally constituted, operate in an eligible industry, and offer value-added services or products generally intended for businesses (B2B).

• Legally constituted
• Located in the DEL region or planning to be
• Operating in an eligible industry
• Offering value-added services or products intended for businesses (B2B)
• Submitting a project that will create and/or maintain jobs
• Project for which government financing and DEL financing combined cover a maximum of 50% of the project expenses
• Demonstrate project profitability and growth potential with realistic financial forecasts
• Provide current financial statements showing 20% equity after the project and the ability to repay
• Business and entrepreneur must not be in default to the government or its creditors nor subject to any litigation

Who is not eligible

The grant context does not explicitly mention any specific types of companies that are not eligible for the grant. Therefore, there are no stated exclusions for ineligible companies in the provided information.

Eligible expenses

Eligible expenses for this grant include working capital related to the first year of the project, excluding R&D expenses.

• Working capital for the first year
• Excludes R&D expenses

Yes, there are evaluation and selection criteria for this grant that need to be adhered to. The criteria ensure the business is located in the DEL region, financially stable, and capable of creating or maintaining jobs while offering value-added services or products intended for businesses (B2B).

• 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

The Working Capital Loan provides up to $150,000 for operating costs and can be combined with other financing options, featuring favorable repayment terms and eligibility criteria aiming to support business growth and job creation.

• Max amount: $150,000
• Can cover 50% of external professional fees for the project
• Repayable at any time without penalty
• Competitive and risk-based interest rates
• Requires submission of key documents like financial statements and business plans