DEPS — Assistance and support program for local businesses

• The business must have a primary entrance directly located in the area affected by the construction work on Prince and Augusta streets.
• The business must experience a decrease in customer traffic during the construction period.
• The business can be either profit or non-profit in nature.
• Eligible types of businesses include restaurants and food services, pharmacies, retail stores, personal services, bars, and leisure establishments.

Who is eligible?

• Restaurants and food services.
• Pharmacies, boutiques, and retail stores.
• Personal services.
• Bars and recreational establishments.

Eligible expenses

• Rent or mortgage payments, including the principal and interest related to the commercial premises.
• Loans for commercial capital expenditures, including the principal and interest associated with the commercial premises.
• Electricity expenses.
• Gas expenses.
• Heating expenses, if not already included in the rent, electricity, or gas.
• Municipal and school taxes (portion payable during the construction period).
• Telecommunications: Fixed phone lines.
• Internet access for the business (maximum $75 per month).
• Insurance premium related to the commercial premises.

Eligible geographic areas

• City of Sorel-Tracy, particularly the downtown area directly affected by the renovation of streets Prince and Augusta.

• The City of Sorel-Tracy initiated major street renovation work on Prince and Augusta streets on June 26, 2023, which will last until mid-December.
• The $75 limit applies to internet expenses per month for the business.
• A 6% interest rate applies to the loans provided under this assistance program.
• A 36-month moratorium on both capital and interest is part of the loan conditions.
• Up to 20% of the loan capital may be forgiven if all repayment conditions in the loan agreement are met.
• No personal guarantees or collateral are required for the loan.
• Loan amortization can extend up to 60 months post-moratorium, based on the applicant's choice.
• The assistance is specifically handled by Développement économique Pierre-De Saurel (DEPS).
• Applications require a completed and signed application form, and a board resolution authorizing the signatory if not the owner.
• Supported expenses must be verified by providing related invoices, leases, loan statements, and tax accounts for up to 12 months, along with the contract's start and end dates if applicable.
• Technical support and application analysis are offered by a member of the DEPS business advisory service.
• A quarterly follow-up report must be submitted to the City of Sorel-Tracy.