MRC Arthabaska - Honorary loan
Victoriaville, QC, Canada
Young entrepreneurs' short-term loan, Victoriaville region support
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- MRC Arthabaska
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Prêt d'Honneur Victoriaville et sa région provides a maximum funding amount of $15,000 to young entrepreneurs aged 40 and under who have exhausted conventional financing options, to support short-term needs crucial for the success of their business project. Eligible activities include engaging with a mentor, attending recommended training, and presenting a detailed project plan and financial forecasts.
grant_single_labels|terms_and_conditions
This loan, offered to young entrepreneurs in the MRC d'Arthabaska, provides flexible and favourable terms to support business growth in the region. The financing modalities are crafted to ensure accessibility and ease of repayment.
- Loan amount can reach up to $15,000.
- Loan duration ranges from 6 to 24 months.
- Flexible repayment conditions.
- A maximum interest rate of 3%.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific criteria related to the entrepreneur and business status.
- The business must be a for-profit enterprise that has been in existence for 5 years or less.
- The business must have its headquarters located in the MRC d'Arthabaska territory.
- The entrepreneur must have exhausted all other sources of traditional financing.
- The entrepreneur must demonstrate a short-term need through a project plan and financial forecasts.
- The applicant must agree to be accompanied by a mentor.
- The applicant must participate in basic training recommended by the mentor.
- The entrepreneur must be aged 40 years or younger.
grant_eligibility_criteria|who_can_apply
Eligible applicants are young entrepreneurs aged 40 or below who own a for-profit business that has existed for 5 years or less, with its headquarters located in the MRC d'Arthabaska region. The entrepreneur must have exhausted all traditional financing sources, demonstrate a short-term need through a project plan and financial forecasts, be willing to accept mentorship, and participate in basic training recommended by the mentor.
grant_eligibility_criteria|zone
This grant is available exclusively for companies situated in certain geographical areas as outlined by the funder. These areas are specifically selected to foster local entrepreneurship and economic growth.
- Companies headquartered within the territory of the MRC d'Arthabaska.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Assess Eligibility
- Ensure that the business is for-profit and has been operational for 5 years or less.
- Verify that the business headquarters are located in the territory of the MRC d'Arthabaska.
- Confirm that all conventional funding sources have been exhausted.
- Ensure the applicant is 40 years old or younger.
- Step 2: Prepare Required Documentation
- Draft a comprehensive project plan detailing the business objectives and strategies.
- Prepare financial forecasts demonstrating the need for short-term financing.
- Include documentation showing attempts and failures to secure traditional financing.
- Step 3: Contact Prêt d'Honneur
- Reach out to Prêt d'Honneur Victoriaville for initial discussions and guidance.
- Request detailed application instructions and requirements from the organization.
- Step 4: Application Submission
- Submit the completed application form along with all required documentation directly to Prêt d'Honneur.
- Follow any specific submission instructions provided by the organization.
- Step 5: Mentorship Agreement
- Agree to participate in a mentorship program provided by Prêt d'Honneur if the application is successful.
- Commit to attend recommended foundational training sessions.