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Evol — Conventional loans for women entrepreneurs
Canada
Loan fund for women entrepreneurs focused on sustainable development
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
grant_single|deadlines
- grant_single|openingDateNovember 15, 2023
- grant_single|closingDateFebruary 28, 2024
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
The grant offers funding between $20,000 and $50,000 to businesses that are owned and led by at least one female-identifying person, focusing on enterprises that are socially and environmentally conscious and align with sustainable development values. Eligible activities include the acquisition of tangible and intangible assets, working capital, product development, commercialization of new products and services, and purchase or buyback of shares.
grant_single_labels|terms_and_conditions
This funding offers tailored financial solutions to support women entrepreneurs in diverse sectors while encouraging sustainable business practices. The modalities are designed to provide flexibility and support at various stages of business development.
- Loan amounts range from $20,000 to $50,000.
- Funding can be used for the acquisition of tangible and intangible assets, working capital, product development, and commercialization, as well as purchasing and repurchasing shares.
- Interest rates are determined based on the level of risk associated with the business.
- The maximum amortization period for the loan is five years.
- Applicable fees for application analysis and follow-up.
- Potential for loan deferment at the time of granting and during the loan period, including in cases of parental leave.
grant_single_labels|projects
This grant aims to empower women-led businesses through financial support for various business initiatives. Eligible activities focus on economic growth, sustainability, and innovation within different sectors.
- Acquisition of tangible and intangible assets.
- Working capital financing.
- Product development and commercialization of new products and services.
- Purchase and redemption of shares.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the ownership structure and business practices of the company.
- The company must be owned and led by at least one person identifying as female, holding at least 50% of the shares and voting rights. For succession businesses, a plan must be presented to acquire at least 50% of the shares and votes eventually.
- The company must be aware of social and environmental issues and ensure that its activities align with sustainable development values.
- The company must operate within most sectors of activity.
grant_eligibility_criteria|who_can_apply
This grant is specifically available for businesses that are majority-owned and led by individuals identifying as female. The eligible businesses must have at least 50% ownership and voting rights held by a person of the female gender. For businesses in transition, there should be a succession plan that includes the acquisition of at least 50% ownership and voting rights eventually. Additionally, the businesses must be socially and environmentally conscious, ensuring their activities align with sustainable development values.
grant_eligibility_criteria|eligible_expenses
The grant supports various expenses essential for business growth and development, particularly for women entrepreneurs.
- Acquisition of tangible and intangible capital assets.
- Working capital requirements.
- Product development initiatives.
- Development and commercialization of new products and services.
- Purchase and buyback of shares.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The interest rate for the loan is based on the level of risk associated with the venture.
- The maximum amortization period for the loan is five years.
- Applicants will incur analysis and follow-up fees during the processing of their application.
- A deferral of payments (moratorium) is available both at the beginning and during the loan term.
- An additional payment deferral option is available for parental leave.
