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Entreprendre Sherbrooke — Créavenir Estrie
Sherbrooke, QC
Supports young entrepreneurs with credit and business guidance
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Entreprendre Sherbrooke
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Entreprendre Sherbrooke — Créavenir Estrie grant provides up to $30,000 in financial support for young entrepreneurs to launch or develop their businesses. Eligible activities include business start-ups or expansions that have been operating for less than three years and do not have access to conventional credit networks.
grant_single_labels|terms_and_conditions
- Access to a line of credit up to $15,000, potentially increasing to $30,000 after six months of demonstrating good financial behavior, at a preferential rate of +0.5% for a duration of five years.
- Business credit card with a limit of $1,000 at the preferential rate of +0.5%.
- Maximum grant of $5,000 available, subject to conditions, which can be used as seed money to access other funding sources.
- For Microcrédit Desjardins, a loan up to $20,000 is available, tailored to repayment capacity.
grant_single_labels|projects
- Entrepreneurial startup projects by individuals aged 18 to 39.
- Development of an existing business established for less than three years.
- Projects that require alternative credit options due to limited access to conventional credit networks.
grant_single_labels|admissibility
- The applicant must be aged between 18 and 39 years for the Créavenir program.
- The applicant must have a viable business start-up project or aim to develop an existing business that has been operational for less than three years.
- The applicant should not have access to conventional credit networks, or such access should be insufficient to realize the project.
- The applicant must be a member of a caisse.
grant_eligibility_criteria|who_can_apply
The Créavenir Estrie program is aimed at individuals who meet specific eligibility requirements rather than focusing on specific types of companies or industries. Its primary audience consists of young entrepreneurs between the ages of 18 and 39 who have viable business projects, either as startups or as developments of businesses less than three years old, and who lack sufficient access to conventional credit networks. Similarly, the Microcrédit Desjardins program is open to entrepreneurs of any age with viable business projects, who are also unable to access traditional credit networks. Both programs emphasize the individual's status as an entrepreneur and their need for credit access over the specific industry or company type.
grant_eligibility_criteria|eligible_expenses
- Creation or development of a viable business plan.
- Initial capital requirement as a personal fund for leveraging other financing sources.
- Financial behaviors that contribute positively to creditworthiness.
grant_eligibility_criteria|zone
- Sherbrooke, Quebec, Canada
- Estrie Region, Quebec, Canada
grant_single_labels|register
- Step 1: Prepare a Business Plan
- Develop a viable business plan for your new or existing business (less than 3 years old).
- Ensure the plan demonstrates the potential for success and specifies your business goals.
- Step 2: Verify Eligibility and Membership
- Check that you meet the eligibility criteria including age, project viability, and access to conventional credit.
- Ensure you are a member of a caisse (Desjardins credit union).
- Step 3: Contact Partner Organizations
- Identify the local development organizations or microcredit partners associated with the Créavenir or Microcrédit Desjardins programs in your region.
- Reach out to the appropriate organization to express your interest and gain insights on the next steps.
- Step 4: Submit Business Plan for Evaluation
- Submit your completed business plan to the local development organization or microcredit partner.
- Ensure all sections of the business plan are thoroughly completed and reviewed for clarity.
- Step 5: Await Review and Selection
- Wait for the committee of the chosen program to review your submission.
- Participate in additional discussions or presentations if requested by the evaluators.
- Step 6: Receive Notification and Further Steps
- If selected, follow any additional instructions or provide further documentation if requested.
- Engage with the support team for assistance through the initiation and development stages of your business.
grant_single_labels|otherInfo
- The Créavenir program offers a preferential credit rate of +0.5% for both the line of credit and the business credit card.
- The maximum line of credit can increase from $15,000 to $30,000 after demonstrating six months of sound financial behavior.
- A business credit card with a limit of $1,000 is provided under the Créavenir program.
- A maximum grant of $5,000 is available under the Créavenir program, applicable as a down payment for accessing other funding sources, under certain conditions.
