Evol — Conventional start-up loan
At a glance
- From 20,000$ to 75,000$
- Open Date : February 16, 2022
- All industries
- Evol
Overview
Eligibility criteria
This grant is aimed at providing financing to women and men entrepreneurs to help them achieve their business ambitions. Eligibility criteria include:
- Acquisition of tangible and intangible assets
- Working capital related to business operations
- Development and marketing of products and services
- Purchase and redemption of shares
- Interest rates based on risk level
- Amortization period ranging from 2 to 8 years
- Possibility of moratorium at grant and during the loan
- Possibility of moratorium in case of parental leave
- Fees for file analysis and follow-up
Who is eligible
Eligible types of companies for this grant include startups in various business sectors. The loan can be used for acquiring assets, working capital, product development, and more.
- Startups in most business sectors
- Companies looking to finance tangible and intangible assets
- Businesses seeking working capital support
- Startups focusing on product development and new services
- Businesses interested in purchasing or redeeming shares
Eligible expenses
Eligible expenses for this grant include financing the acquisition of tangible and intangible assets, working capital related to business operations, development and marketing of products and services, as well as the purchase and redemption of shares. Most business sectors are eligible for funding.
- Acquisition of tangible and intangible assets
- Working capital related to operations
- Development and marketing of products and services
- Purchase and redemption of shares
- Eligible for most business sectors
Eligible projects & activities
Projects or activities eligible for this grant include financing the acquisition of tangible and intangible assets, working capital related to business operations, development and marketing of products and services, as well as the purchase and redemption of shares.
- Acquisition of assets
- Working capital funding
- Product and service development
- Share purchase and redemption
Evaluation & selection criteria
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
How to apply
- Step 1: Prepare the required documents for the application process
- Business plan
- 2-year projected financial statements
- Curriculum vitae of shareholders
- Step 2: Complete the application form with accurate information and submit it along with the required documents
- Step 3: Await the review and analysis of your application by the grant provider
- Step 4: If approved, review and sign the loan agreement detailing the terms and conditions
- Step 5: Receive the granted loan amount to support your business start-up
Additional information
Additional information for applicants includes:
- Applicants may need to provide additional collateral or personal guarantees depending on the risk assessment of the business project.
- Applicants should be prepared for a thorough review process that may involve interviews and site visits.
Business Start-Up Conventional Loan
Business Start-Up Conventional Loan: Financing Your Entrepreneurial Ambitions
If you are an entrepreneur looking to start or expand your business, the Business Start-Up Conventional Loan program offers loans ranging from $20,000 to $75,000 with a minimum down payment of 5%. The loan comes with an amortization period of up to 8 years and interest rates based on the business project's risk. With the possibility of moratorium and flexible terms, this program aims to provide women and men entrepreneurs the means to achieve their business ambitions.
The application process requires a business plan, 2-year projected financial statements, and curriculum vitae of shareholders. Eligible sectors include financing for tangible assets, working capital, product development, and more. The loan also offers flexibility with moratorium options and fees tailored to the risk level of the business. Whether you are starting a new venture or expanding an existing one, this program aims to support entrepreneurs in realizing their business goals.
