MRC Beauce-Sartigan — Futurpreneur Canada
QC, Canada
Funding, mentorship, and tools for young Canadian entrepreneurs
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
Expert Advice
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- MRC Beauce-Sartigan
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grant_card_status|open
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Futurpreneur Canada is a program designed to provide up to $25,000 in funding, along with mentorship and tools, to entrepreneurs aged 18 to 39 to help them build sustainable businesses. Eligible activities exclude the refinancing of existing debt and businesses involved in inappropriate or illegal activities.
grant_single_labels|terms_and_conditions
This grant provides a structured loan financing model designed to support young entrepreneurs in establishing viable businesses. It offers financial assistance through loans with specific interest and repayment conditions to ensure sustainable business growth.
- Loan amounts up to $25,000 per business from Futurpreneur Canada.
- Additional funding up to $50,000 available from BDC if more capital is required.
- Loans are amortized over a period of five years.
- Only interest payments are required during the first 12 months following the loan grant.
- Principal repayments made through monthly blended payments plus interest over the next four years.
- Early repayment options are available.
- Interest calculated at CIBC’s prime rate + 3%, with a cap system if CIBC's prime exceeds 6% or 9%.
- BDC interest charged at their variable rate + 1.65%.
- A single management fee of 1% applies to the total loan balance from Futurpreneur.
- BDC charges a $50 processing fee after loan disbursement.
grant_single_labels|projects
This grant supports young entrepreneurs in establishing and growing their businesses by providing financial assistance, mentorship, and essential tools. Eligible projects focus on sustainable business practices, innovative solutions, and creating lasting employment opportunities.
- Starting a new business venture with a solid business plan.
- Business ideas focused on creating full-time sustainable jobs.
- Implementing innovative products or services that adhere to recognized standards and norms.
- Projects that do not involve the refinancing of existing debt or unethical business practices.
grant_single_labels|admissibility
The eligibility criteria for this grant establish the basic requirements that applicants must meet to qualify for support.
- Applicants must be between 18 and 39 years old.
- Applicants must be Canadian citizens or permanent residents.
- Applicants' businesses must be in startup phase or have been operational for less than two years.
- Applicants must agree to work with a mentor for a period of up to two years.
- The business must create a full-time sustainable job.
- In case of partnership, applicants must own at least 51% of the voting shares of the business.
- Applicants must not be full-time students.
- Applicants must generally contribute 10% of the total project financing as their investment in the business.
- The loan cannot be used to refinance an existing debt.
- The loan cannot be used to fund sexually exploitative businesses or activities that are against generally recognized standards of conduct and propriety, including businesses dealing in sexually explicit products, services, or entertainment; businesses engaged in or involved with illegal activities; businesses dealing with entities from countries proscribed by the federal government; or any other inappropriate business activities for government funding.
grant_eligibility_criteria|who_can_apply
- You are an entrepreneur aged between 18 to 39 years.- You are a Canadian citizen or a permanent resident.- Your business is a startup or has been operating for less than 2 years.- You commit to working with a mentor for up to two years.- You aim to create a sustainable full-time job.- You own at least 51% of the voting shares of the company if in a partnership.- You are not a full-time student.- You have invested typically 10% of the total project funding value.- The loan cannot be used to refinance existing debt.- The loan cannot fund businesses involved in sexual exploitation, illegal activities, or inappropriate business activities for government funding.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain companies and industries due to their status or main activity. The restrictions aim to ensure that funds are directed toward strategic sectors aligned with the grant's objectives.
- Companies involved in sexually exploitative activities or offering sexually explicit products, services, or entertainment.
- Businesses engaged in illegal activities or associated with such activities.
- Companies conducting business with entities from countries banned by the federal government.
- All other business activities deemed inappropriate for government financing.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Create an Account on Futurpreneur Website
- Visit the Futurpreneur Canada website: www.futurpreneur.ca.
- Create a personal account by providing necessary personal and business details.
- Step 2: Complete Eligibility Assessment
- Complete an online assessment to confirm eligibility for the program.
- Step 3: Prepare Application Documents
- Gather necessary documentation, including business plan, financial statements, and personal identification.
- Ensure that all documents are up-to-date and meet the program guidelines.
- Step 4: Complete Online Application Form
- Log into your account and fill out the online application form with detailed business information.
- Upload all the required documents mentioned in the portal.
- Step 5: Submit Application
- Review all entered information and uploaded documents to ensure accuracy and completeness.
- Submit the application through the Futurpreneur Canada's online platform.
- Step 6: Confirmation of Submission
- Receive a confirmation email with your application ID for future reference.
- Step 7: Prepare for Follow-Up
- Be ready to provide any additional information or clarification if requested by the Futurpreneur team.
grant_single_labels|otherInfo
If you are applying for the Futupreneur Canada program, here are some additional details to consider:
- Successful applicants are required to work with a mentor for up to two years, reinforcing a support network for business growth and sustainability.
- A management fee of 1% will be deducted from the total Futurpreneur loan amount, which applicants should account for in their financial planning.
- For loans involving BDC, a one-time instruction fee of $50 will be charged post-loan issuance.
- The interest rate on loans provided through Futurpreneur is tied to the CIBC prime rate with a cap at 9%, safeguarding against excessively high-interest rates if the CIBC prime rate surpasses this threshold.
- Applicants should be prepared for an interest-only payment period lasting twelve months from the loan grant date, which transitions to monthly amortized payments afterward.
- Prepayment of the loan is an option available, offering flexibility in managing financial commitments.
grant_single_labels|contact
418 228-8123
