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MRC Abitibi-Ouest — CRÉAVENIR Program
QC, Canada
Créavenir supports young entrepreneurs in Abitibi-Ouest with financing
grant_single_labels|summary
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- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
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- grant_single|allIndustries
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- MRC Abitibi-Ouest
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grant_card_status|open
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The Créavenir program, a partnership between MRC d'Abitibi-Ouest and Desjardins, aims to support young entrepreneurs aged 18 to 35 by providing financial leverage for startup or business development projects lacking conventional financing access. It offers a maximum of 25% of the project cost up to $5,000 in non-repayable aid, alongside a potential credit line of up to $15,000.
grant_single_labels|terms_and_conditions
The MRC Abitibi-Ouest — CRÉAVENIR Program provides an innovative mix of financial support aimed at aiding young entrepreneurs with limited access to conventional financing. This combination of non-repayable and repayable assistance is designed to help bridge the funding gap for eligible business ventures.
- Non-repayable financial aid covering up to 25% of the project cost, with a maximum amount of $5,000.
- Availability of a line of credit up to $15,000 at a preferential rate plus 0.5% per annum, with a repayment term of up to 5 years.
grant_single_labels|projects
This grant supports young entrepreneurs in the MRC d'Abitibi-Ouest region by providing financial assistance to help them start or develop a viable business project. It assists those who lack the necessary guarantees or capital for conventional financing.
- Starting a new business within the eligibility criteria.
- Development of an existing business that has been established for less than three years and funded personally.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements pertaining to the applicant's age, business status, financial situation, and geographical location.
- The applicant must be aged between 18 and 35 years.
- The applicant must have a viable business startup or a developmental project for an existing business that is less than 3 years old.
- The source of funding for the business must be personal.
- The applicant must not have sufficient guarantees or the required down payment for access to conventional financing.
- The applicant must be a member of one of the participating Desjardins caisses or become one.
- The applicant must reside in the territory of the MRC d’Abitibi-Ouest.
grant_eligibility_criteria|who_can_apply
This grant is specifically to assist young entrepreneurs between the ages of 18 and 35 who are launching a new business or developing an existing one that has been established for less than 3 years. Applicants must not have the necessary collateral or down payment required for conventional financing. They must reside in the territory of the MRC d’Abitibi-Ouest and should be members or become members of one of the participating Desjardins caisses. The project must be funded personally by the entrepreneur.
grant_eligibility_criteria|zone
This grant specifically supports companies located within a designated area as outlined by the funding partnership. Eligible locations are focused on fostering regional entrepreneurial development.
- Companies residing in the territory of the MRC d’Abitibi-Ouest.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Business Plan Preparation
- Work with provided professionals to complete your business plan.
- Step 2: Membership Requirement
- Ensure you are a member of a participating Desjardins caisse or become a member.
- Step 3: Contact Development Advisor
- Contact a development advisor for more information on the application process.
- Step 4: Application Submission
- Prepare and submit your application, including the completed business plan and other supporting documents, as advised by the development advisor.
grant_single_labels|otherInfo
The Programme CRÉAVENIR has certain additional details that applicants should know:
- This programme is a partnership initiative led by the MRC d’Abitibi-Ouest and Desjardins, emphasizing local economic development.
- Financial aid provided may be both non-repayable and repayable, highlighting the importance of understanding each component.
- Although no minimum personal investment is required, successfully obtaining funds may depend on securing additional financing from other programmes.
- Applicants must engage with professional consultants to complete their business plan as a mandatory pre-requisite before submitting the application.
- The margin of credit offered comes with a competitive interest rate pegged to the prime rate plus a 0.5% markup.
- Applicants must either be existing members of participating Desjardins caisses or commit to becoming members.
- There's an emphasis on applicants receiving ongoing support and advisement throughout their entrepreneurial journey.
