MRC Abitibi-Ouest — CRÉAVENIR Program

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.

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.

Who is eligible?

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.

Eligible geographic areas

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.

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.