Investment Banking — Corporate Finance
grant_single|update January 24, 2025
QC, Canada
Financing for cultural businesses in Quebec
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDate November 14, 2019
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Information and cultural industries
- Arts, entertainment and recreation
grant_single|grantors
- Gouvernement du Québec
- Société de développement des entreprises culturelles (SODEC)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Loans, loan guarantees and capital investments for cultural businesses, as well as tax credit advances for film, books, sound productions and shows.
grant_single_labels|projects
This grant is specific to companies having their headquarters in a particular geographical area. Eligibility is determined by the company's location and operational base.
- Companies with their headquarters located in Quebec, Canada.
grant_single|admissibleProjectsExample
$ 45,000
Digital upgrade for an independent film studio
$ 80,000
Expansion of a local bookstore chain
$ 60,000
Development of an online platform for a cultural event company
$ 40,000
Supporting digital content creation for a non-profit arts organization
$ 25,000
Succession planning for a family-owned theater company
$ 65,000
Reinforcement of Quebec ownership of a music production company
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements regarding the company's legal status, location, and operational history.
- The company must be legally constituted, either as a for-profit or non-profit, excluding individual enterprises, except those in the field of crafts.
- The company must have its headquarters in Quebec, with effective control majority-held by individuals residing in Quebec.
- The company must have been in operation for at least one year or operate in new and non-competing sectors.
- The company must assume financial risk related to the operations for which financing is requested.
- The company must possess the necessary human and financial resources to meet all financial obligations, including loan repayment according to SODEC's conditions.
grant_eligibility_criteria|who_can_apply
Any legally constituted for-profit or non-profit enterprises, except sole proprietorships unless in the field of crafts, which have their headquarters in Quebec and demonstrate that effective control is held by persons domiciled in Quebec. They must have been operational for at least one year or be operating in a new and non-competitive niche. The company must be willing to assume financial risk in the operations requiring financing and possess the necessary human and financial resources to meet all financial obligations, including loan repayment under the conditions set by SODEC.
grant_eligibility_criteria|who_cannot_apply
This grant excludes specific types of companies based on their legal status or primary operational structure. These restrictions are designed to align the grant support with the broader objectives of fostering certain business types.
- Individual enterprises, except those in the artisanal sector, are not eligible.
grant_eligibility_criteria|eligible_expenses
This program aims to support the financial needs of Quebec-based cultural enterprises through various financing tools. The eligible activities focus on business development, digital transformation, and ensuring the sustainability of Quebec-owned cultural businesses.
- Supporting the development of overall business activities.
- Enabling the realization of their expansion potential.
- Ensuring business sustainability through succession planning or business transfer.
- Strengthening and maintaining Quebec ownership.
- Providing financing for impactful projects.
- Supporting digital development initiatives.
grant_eligibility_criteria|zone
The eligible geographic zone for this grant is Quebec, Canada.
- Headquarters must be in Quebec.
- Business control must be majorly held by individuals domiciled in Quebec.
grant_single_labels|criteria
Yes, there are evaluation and selection criteria for this grant from the SODEC. The criteria ensure that only established cultural enterprises with a strong Quebec ownership and financial stability are considered for funding.
- Legally constituted enterprise (for-profit or non-profit)
- Headquarters in Quebec with majority ownership by Quebec residents
- Operational for at least one year or operating in a new, competition-free niche
- Assumption of financial risk for the operations in the funding request
- Possesses necessary human and financial resources to meet financial obligations, including loan repayment
grant_single_labels|apply
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grant_single_labels|otherInfo
The Société de développement des entreprises culturelles (SODEC) offers various financial instruments to support cultural enterprises in Quebec.
- SODEC provides a preferential interest rate, which as of July is 6.95%.
- The financing options available include term loans, revolving credit, loan guarantees, and in exceptional cases, project investment and equity stake.
- It emphasizes maintaining Quebec ownership and supporting business succession or transfer processes.
- SODEC offers interim financing for tax credits as part of their financial services.
- Applicants can automate their payment processes with SODEC via pre-authorized debit or credit through dedicated forms.
- Businesses are encouraged to read articles about cultural entrepreneurship on their platform for further insights and inspiration.
grant_single_labels|contact
services.financiers@sodec.gouv.qc.ca