FIJE Fund
grant_single|update January 27, 2025
QC, Canada
Loans for business in Haute-Yamaska, Brome-Missisquoi or Rouville, Quebec
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|openingDate November 1, 2023
- grant_single|closingDate March 31, 2024
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Centre d'Aide aux Entreprises Haute-Yamaska et région (CAEHYR)
grant_single|status
grant_card_status|open
grant_single_labels|preview
If you are a woman, a young person under 39 years of age or an immigrant, you may be eligible for a business loan of up to $50,000,
grant_single_labels|terms_and_conditions
The FIJE Fund provides accessible financing solutions aimed at empowering women, immigrants, and young entrepreneurs embarking on business ventures. This initiative facilitates access to necessary capital, tailored conditions, and supportive resources to foster innovative and impactful business projects.
- Loans available up to $50,000.
- Interest rate set at the prime rate plus 3%.
- Loan amortization period of up to 5 years.
- Requires a minimum down payment of 10%.
- Option for capital leave ranging from 6 to 12 months.
- Reduced set-up fees and applicable management fees.
- Personal guarantee and other securities are needed.
- Submission of financial statements and financial forecasts is required.
grant_single_labels|projects
This fund supports entrepreneurship projects among women, immigrants, and young individuals between 18 to 39 years old. It is designed to foster creativity and promote meaningful business creation activities.
- Business creation projects involving women entrepreneurs.
- Business initiatives led by young entrepreneurs aged 18-39.
- Entrepreneurial ventures initiated by immigrants.
- Creative and meaningful entrepreneurial projects that align with the values of the fund.
grant_single|admissibleProjectsExample
$ 50,000
Acquisition of a local bookstore to promote local authors
$ 50,000
Opening a new bakery shop specializing in gluten-free pastries
$ 50,000
Expanding a tech start-up to develop a new AI product
$ 50,000
Starting a sustainable fashion brand with eco-friendly materials
$ 50,000
Expanding a farm-to-table restaurant specializing in local organic produce
$ 50,000
Modernizing fitness center equipment to enhance customer experience
grant_single_labels|admissibility
Eligibility for the FIJE funds is based on specific criteria regarding the profile of the entrepreneurs or business owners.
- The applicant must be a woman, an immigrant, or a young person aged 18-39.
- The funding supports business creation projects aiming for creativity and meaningfulness.
- Applicants must meet personal guarantee and other applicable security requirements.
- The applicant must provide financial statements and financial forecasts.
grant_eligibility_criteria|who_can_apply
Eligible applicants for the FIJE funds include citizens between the ages of 18 and 39, with a focus on women entrepreneurs and immigrants.
grant_eligibility_criteria|eligible_expenses
Yes, there are eligible expenses for this grant. Businesses can use the funds for various purposes such as start-up costs, equipment modernization, business acquisition, and expansion projects.
- Start-up costs
- Equipment modernization
- Business acquisition
- Expansion projects
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. The evaluation and selection criteria include:
- Business viability and growth potential
- Entrepreneurial experience and skills
- Relevance of the project to the region
- Job creation and economic impact
grant_single_labels|apply
Here are the steps to submit an application for this grant:
- Step 1: Initial Research and Eligibility Confirmation
- Ensure that you meet the eligibility criteria for the FIJE funds (age, gender, immigration status).
- Review the financing conditions and consider how they apply to your business plan.
- Step 2: Attend Workshops and Mentoring Sessions
- Participate in available workshops to gain insights on application procedures and requirements.
- Engage with mentors or program advisors to refine your business plan and funding strategy.
- Step 3: Prepare Financial Documents
- Gather and prepare financial statements for your business.
- Develop detailed financial forecasts to support your funding request.
- Ensure readiness of any required personal guarantees or additional securities.
- Step 4: Draft the Business Proposal
- Write a comprehensive business proposal outlining your project objectives and milestones.
- Include a breakdown of the use of loan funds and impact projections.
- Step 5: Complete Application Form
- Access and fill out the application form associated with FIJE funds, available through their website or portal.
- Ensure all sections of the form are completed accurately and comprehensively.
- Step 6: Submit Application Package
- Upload all prepared documents, including the business plan and financial records, to the submission platform.
- Double-check the application for completeness before submission.
- Submit the final application package before the designated deadline.
- Step 7: Confirmation and Follow-up
- Receive confirmation of submission, either via email or through the application portal.
- Keep a record of the confirmation and any reference numbers provided.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Workshops and mentoring sessions are available to assist applicants in their business development and enhance their entrepreneurial skills.
- Some resources may be provided to help applicants successfully manage and grow their business post-funding.
- The loan offers flexible capital leave which allows deferment of payments for a period ranging from 6 to 12 months, providing new businesses with breathing room to establish themselves.
- Applicants are expected to provide personal guarantees and possibly other forms of security for the loans, ensuring the commitment towards repayment.
- Applicants must prepare comprehensive financial statements and forecasts as part of the application process, highlighting the business's potential and financial strategy.
- Reduced set-up fees and applicable management fees could make financial management more accessible for young businesses.