MRC Beauce-Centre — Futurpreneur

This grant provides financial support to young entrepreneurs in the form of loans to facilitate the startup phase of their business. The program also offers additional support through partnerships to extend funding capabilities.

• Loan amounts range from $5,000 to $20,000.
• Additional funding of up to $40,000 may be available through a partnership with the Business Development Bank of Canada (BDC).
• Principal payment holidays are offered for the first year.
• The loan term is structured over a period of 5 years.
• No securities or collateral are required to access the loan.

Eligibility for this grant is determined by specific criteria related to the business proposal and the applicant's background.

• The business must have been in operation for less than 12 months.
• A viable business plan and financial forecasts must be provided.
• The business proposal must create at least one full-time job.
• The applicant must be aged between 18 and 39 years.
• The applicant should have relevant training for the proposed business.
• The applicant must own more than 51% of the voting shares.
• The applicant must commit to working with a mentor.

Who is eligible?

The grant targets young entrepreneurs aged 18 to 39 who wish to start a business in Canada. Interested applicants must meet specific criteria related to their business project and personal qualifications.

• The business must be operational for less than 12 months.
• Applicants must present a detailed business plan and financial projections demonstrating viability.
• The project should facilitate the creation of at least one full-time job.
• Applicants must hold more than 51% of the voting shares.
• Commitment to work with a mentor is required.
• Applicants should possess relevant training for the project.

Here are additional relevant details for this grant:

• The combined loan limit with Futurpreneur and BDC funding can reach up to $60,000.
• Futurpreneur Canada offers ongoing support through business resources in addition to financial aid.
• Interest rates and specific repayment schedules will be outlined in the loan agreement.
• Businesses from all sectors are considered, but the viability of the business plan is crucial.
• The mentoring process is typically a two-year commitment.