MRC Arthabaska - Honorary loan
Last Update: May 13, 2025
Victoriaville, QC
Young entrepreneurs' short-term loan, Victoriaville region support
MRC Arthabaska - Honorary loan at a glance
Eligible Funding
- Max. $15,000
Timeline
- Continuous Intakes
Financing Type
Loans and Capital investments
Eligible Industries
- All industries
Grant Providers
- MRC Arthabaska
Status
Open
Overview of the MRC Arthabaska - Honorary loan program
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.
Financing 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%.
Eligibility criteria of the MRC Arthabaska - Honorary loan program
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.
Who is eligible?
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.
Eligible geographic areas
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.
How to apply to the MRC Arthabaska - Honorary loan program
1
Eligibility Assessment
- Check that you meet all the eligibility criteria mentioned.
- Make sure that your business is for profit and located in the Arthabaska RCM.
2
Preparation of documents
- Write a detailed project plan outlining your short-term funding needs.
- Prepare financial forecasts demonstrating the viability of your project.
3
Mentoring Choice
- Agree to participate in the mentoring program and identify a potential mentor.
- Prepare to participate in the training recommended by the mentor.
4
Submission of the request
- Contact Prêt d'Honneur Victoriaville to obtain the application form.
- Fill out the application form, attaching all required documents.
- Submit the application by the method indicated by the organization (mail, email, or online portal if mentioned).
5
Waiting for the response
- Wait for the response from Prêt d'Honneur regarding the acceptance or refusal of your application.
- Prepare for any requests for additional information or an interview.