How much funding can be received?

Funds up to 5% of admissible expenses, capped at $450000 per project.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Evol — Conventional loan?

Evol — Conventional loan is funded by Evol

What are Evol — Conventional loan's eligibility criterias?

Most business sectors are eligible for the loan. Entrepreneurs must provide a business plan and/or project summary. Applicant must submit 2-year projected financial statements and past 3 years' financial reports, if possible.

Evol — Conventional loan

grant_single|update January 24, 2025

QC, Canada

Loans for diversified and inclusive Quebec businesses

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grant_single|openingDate February 16, 2022

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Loans and Capital investments

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Evol

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Get a loan ranging from $20,000 to $450,000 for your business growth, acquisition or transfer project.

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This loan provides variable financing options designed to support business growth, acquisition, or transfer projects with flexible terms and conditions for entrepreneurs. The terms are conditioned by the loan amount, amortization period, and associated risk levels.

Loan amounts range from $20,000 to $450,000.
A minimum down payment of 5% of the project value is required.
Maximum amortization period of up to 8 years.
Interest rate is calculated based on a base rate plus a variable percentage depending on the risk premium of the business project.
A moratorium on payments is possible both at the granting stage and during the loan period.
A $350 file opening fee is applicable.
An annual management fee of 1.5% of the loan balance is charged.
Financing can cover tangible and intangible asset acquisitions, working capital, product or service development, and share purchase or redemption.
Additional fees may apply for file analysis and follow-up.

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The Evol Conventional Loan supports initiatives aimed at business expansion and development. It focuses on providing financial solutions for enterprises seeking growth, acquisition, or operational enhancements.

Acquisition of tangible and intangible assets for business growth.
Financing working capital related to the business's operations post-loan granting.
Development and marketing of new products and services for existing businesses.
Facilitation of business acquisition or transfer projects.
Purchase and redemption of business shares.

grant_single|admissibleProjectsExample

$ 100,000

Launching a mobile app for mental health services

$ 30,000

Development of an online financial education platform for youth

$ 180,000

Launch of a cultural arts centre in the city

$ 180,000

Purchase of advanced machinery for sustainable furniture production

$ 120,000

Expansion of a local organic grocery store

$ 100,000

Upgrading agricultural equipment for a cooperative farm

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Eligibility for this loan is determined by meeting several specific financial and business criteria.

The project must have a minimum down payment of 5% of the project value.
The applicant must present a business plan and/or project summary.
2-year projected financial statements must be included with the application.
The applicant should provide financial reports for the past 3 years, when possible, and the most recent interim financial statements.
Most business sectors are eligible.
The applicant must accept fees for analysis and follow-up of the file.

grant_eligibility_criteria|who_can_apply

This grant is available for both women and men entrepreneurs who are undertaking business growth, acquisition, or transfer projects in most business sectors. Eligible businesses can apply for loans ranging from $20,000 to $450,000, provided they can supply the required documentation such as a business plan, projected financial statements for two years, past financial reports if available, and the most recent interim financial statements. The loan can be used for various purposes including the acquisition of tangible and intangible assets, enhancing working capital, and the development and marketing of products and new services.

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This grant provides financial assistance for businesses looking to expand through various strategic activities. Entrepreneurs can utilize the funding to enhance their operational capabilities and increase their market share.

Financing the acquisition of tangible and intangible assets.
Provision of working capital related to business operations post-loan.
Development and marketing of new and existing products and services.
Purchase and redemption of business shares.

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There are evaluation and selection criteria for this grant.

Business plan and/or project summary
2-year projected financial statements
Financial reports for the past 3 years (where possible)
Most recent interim financial statements

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Here are additional relevant details for this grant:

The loan amounts range from $20,000 to $450,000.
A minimum down payment of 5% of the project value is required.
The maximum amortization period for the loan is 8 years.
The interest rate is based on a base rate plus a percentage determined by the risk premium associated with the business project.
There is a possibility of a moratorium at the granting stage and during the loan period, including in cases of parental leave.
There is a $350 file opening fee.
An annual management fee of 1.5% of the loan balance is applicable.
Fees for the analysis and follow-up of the file are applicable.