DEL — Working Capital Loan
- Open Date : July 9, 2024
Overview
The Working Capital Loan provides a maximum of $150,000 to cover business operating costs for one year, including expenses related to hiring key employees. Eligible activities include maintaining steady working capital and projects that create or maintain jobs, excluding R&D expenses. Applicants must be legally constituted, located in the DEL region, and demonstrate profitability and growth potential.
At a glance
Funding available
- Attract or retain talent
- Maximum amount : 150,000 $
- Up to 50% of project cost
- Open Date : July 9, 2024
Eligible candidates
- All industries
- Montérégie
- Quebec
- All legal structures
- All revenue ranges
- All organization sizes
- All groups
Next Steps
Eligibility
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
Additional information
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