Evol — Conventional loan
At a glance
- From 20,000$ to 450,000$
- Open Date : February 16, 2022
- All industries
- Evol
Overview
Eligibility criteria
The grant provides funding to entrepreneurs for business growth, acquisition, and transfer projects. Eligibility criteria include:
- Minimum down payment of 5% of the project value
- Maximum amortization period of 8 years
- Interest rate based on risk premium
- Possibility of moratorium at loan granting
- Annual management fee of 1.5% of the loan balance
- Required documents: business plan, financial statements, interim financial statements
Who is eligible
Most business sectors are eligible for this grant. The types of companies that can benefit from this grant include:
- Start-ups
- Small and medium-sized enterprises (SMEs)
- Existing businesses looking for growth, acquisition, or transfer opportunities
Eligible expenses
Eligible expenses for this grant include the acquisition of tangible and intangible assets, working capital related to business operations, development and marketing of products/services, and purchase/redemption of shares.
- Acquisition of tangible and intangible assets
- Working capital for business operations
- Development and marketing of products and services
- Purchase and redemption of shares
Eligible projects & activities
We offer financing for various business projects and activities such as the acquisition of assets, working capital needs, development of products and services, and share purchases in eligible business sectors. The interest rates and terms are customized based on the risk level of the project.
- Acquisition of tangible and intangible assets
- Working capital for business operations
- Development and marketing of new products and services
- Purchase and redemption of shares
Evaluation & selection criteria
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
How to apply
- Step 1: Prepare a business plan and/or project summary.
- Step 2: Provide 2-year projected financial statements.
- Step 3: Submit financial reports for the past 3 years when possible.
- Step 4: Include the most recent interim financial statements.
Additional information
Additional information for applicants:
- Applicants should ensure that all financial documents are accurate and up-to-date to expedite the application process.
- It is advisable to contact the financing institution for any specific requirements or guidelines related to the loan application.
Acquisition and Growth Conventional Loan for Business Expansion
Overview of the Acquisition and Growth Conventional Loan
The Acquisition and Growth Conventional Loan is designed to provide financial support to businesses looking to expand, acquire, or transfer ownership. The loan ranges from $20,000 to $450,000 and requires a minimum down payment of 5% of the project value. The maximum amortization period is 8 years, with an interest rate based on a base rate plus a percentage determined by the risk premium associated with the business project.
Applicants are required to submit a business plan or project summary, 2-year projected financial statements, financial reports for the past 3 years (if available), and the most recent interim financial statements to start the application process. The loan can be used for various purposes, including financing tangible and intangible assets, working capital, product development, and share purchases. Interest rates are calculated based on the risk level, and the amortization period ranges from 2 to 8 years. A moratorium is possible at the loan granting and during the repayment period, with additional fees for file analysis and follow-up.
Businesses in most sectors are eligible for this loan, and there is a possibility of moratorium in specific situations like parental leave. The goal is to provide entrepreneurs, both men and women, with the means to achieve their business ambitions through tailored financial support. The loan offers flexibility in terms of repayment and can facilitate business growth and sustainability.
