Evol — Conventional start-up loan

This loan program provides a range of financing modalities designed to support start-up businesses in their initial phase. The options are structured to accommodate various business needs and financial circumstances.

• Loans ranging from $20,000 to $75,000 are available, requiring a minimum down payment of 5% of the project value.
• The maximum amortization period is 8 years, with interest rates calculated based on a base rate plus a percentage determined by the risk premium associated with the business project.
• The possibility of a moratorium is available at the time of granting and during the loan, including in cases of parental leave.
• A $350 file opening fee and an annual management fee of 1.5% of the loan balance are applicable.
• Financing can be used for acquiring tangible and intangible assets, working capital, developing and marketing new products and services, and purchasing or redeeming shares.
• Most business sectors are eligible for this loan.

Eligibility for this loan is determined by several criteria related to the applicant's business and financial situation.

• The applicant must be a business in the start-up phase, ranging between 0 to 2 years of operation.
• A minimum down payment of 5% of the project value is required.
• A comprehensive business plan must be provided.
• The applicant must submit 2-year projected financial statements.
• Curriculum vitae of shareholders must be included in the application.
• The loan can be used for acquiring tangible and intangible assets, working capital, product development, marketing, and purchasing shares.
• The loan covers most business sectors.

Who is eligible?

Applicants eligible for this loan are typically start-up businesses within their first two years of operation. The businesses must be in one of the eligible sectors of the economy, and both male and female entrepreneurs can apply. The applicants need to be able to present a comprehensive business plan, projected financial statements for the next two years, and the curriculum vitae of all key shareholders involved in the business.

Eligible expenses

This program provides funding for a variety of expenses crucial to starting and growing a business.

• Financing the 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 an existing business.
• Purchase and redemption of shares.

There are evaluation and selection criteria for this grant. The loan is evaluated based on the business project's risk premium, with interest rates calculated accordingly. The selection criteria include financial viability, business plan quality, and the projected financial statements.

• Business project's risk premium
• Financial viability assessment
• Quality of the business plan
• Projected financial statements

Here are additional relevant details for this grant:

• A moratorium on repayments is possible both at the time of granting and during the loan term.
• There are fees associated with the application process, including a $350 file opening fee and a 1.5% annual management fee on the loan balance.
• An interest rate is calculated based on the base rate and the risk premium of the business project.
• Moratoriums can also be applied in the case of parental leave.