grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|fromMinToMax
  • grant_single|projectCostPercent
grant_single|deadlines
  • grant_single|openingDateFebruary 16, 2022
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
  • grant_single|allIndustries
grant_single|grantors
  • Evol
grant_single|status
grant_card_status|open

grant_single_labels|preview

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

grant_single_labels|projects

This grant supports business projects involving acquisition, growth, development, and marketing.
  • Acquisition of tangible and intangible assets
  • Working capital related to post-loan operations
  • Development and marketing of products and new services for existing businesses
  • Purchase and redemption of shares
grant_single|admissibleProjectsExample

$30,000

Toronto
Development of an online financial education platform for youth

$100,000

Ottawa
Launching a mobile app for mental health services

$120,000

Montreal
Expansion of a local organic grocery store

$180,000

Quebec City
Launch of a cultural arts centre in the city

$180,000

Vancouver
Purchase of advanced machinery for sustainable furniture production

$100,000

Calgary
Upgrading agricultural equipment for a cooperative farm

grant_single_labels|admissibility

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.

grant_eligibility_criteria|eligible_expenses

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.

grant_eligibility_criteria|zone

The grant supports several types of expenses associated with business growth and development.
  • Acquisition of tangible and intangible assets.
  • Working capital related to the operations of the business following the loan granting date.
  • Development and marketing of products and new services for a business already in operation.
  • Purchase and redemption of shares.

grant_single_labels|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

grant_single_labels|register

  • Step 1: Initial Requirements
    • Ensure eligibility for the grant by reviewing the types of projects funded, such as acquisition, growth, or transfer projects.
    • Prepare a minimum down payment of 5% of the project value to qualify for loan consideration.
  • Step 2: Document Preparation
    • Prepare a comprehensive business plan and/or project summary outlining the objectives and strategies.
    • Create 2-year projected financial statements to showcase future financial performance.
    • Gather financial reports for the past 3 years to demonstrate historical financial stability, if possible.
    • Compile the most recent interim financial statements to provide current financial status.
  • Step 3: Application Submission
    • Submit the application, including all required documents, to the relevant granting organization or body.
    • Pay the $350 file opening fee to initiate the processing of your application.
  • Step 4: Follow-up and Fees
    • Be prepared for additional fees related to the analysis and follow-up of the file as part of the application process.
    • Anticipate an annual management fee of 1.5% of the loan balance if approved.

grant_single_labels|otherInfo

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.

grant_single_labels|documents

Evol — Conventional loan

Apply to this program

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