How much funding can be received?

The PARESAU - Volet 1 grant provides non-repayable financial support of up to $100,000 to strategic businesses in Quebec facing financial difficulties to help develop and implement solutions. Eligible activities include conducting financial or operational analyses, feasibility studies, implementing solutions, temporary management, and asset preservation.

grant_single_labels|terms_and_conditions

This grant offers specific financing modalities aimed at supporting strategic companies facing financial difficulties, ensuring efficient deployment of resources.

The grant provides a non-repayable financial contribution.
The maximum rate of assistance is 75% of eligible expenses.
The maximum amount of aid is $100,000 per company.
The total cumulative government assistance is limited to 75% of eligible expenses.

grant_single_labels|projects

grant_single|admissibleProjectsExample

$ 10,000

Initiating a food security program for low-income families

$ 100,000

Launching a community-based renewable energy initiative

$ 25,000

Developing a youth art mentoring program

$ 12,000

Creating a digital literacy program for seniors

$ 60,000

Establishing a tech-forward community center

grant_single_labels|admissibility

Eligibility for this grant requires the applicant to meet specific business and operational criteria.

The company must be a for-profit business, cooperative, or social economy enterprise.
The company must have been operating in Quebec for at least three years.
The company must be at risk of closure or show warning signs of closure.
The company must be deemed strategic by the Ministry of Economy, Innovation, and Energy (MEIE).

grant_eligibility_criteria|who_can_apply

Eligible applicants for the PARESAU - Volet 1 grant include for-profit businesses, cooperatives, and social economy enterprises that have been operating in Quebec for at least three years. These businesses must be at risk of closure or show signs of closure and be deemed strategic by the Ministry of Economy, Innovation, and Energy (MEIE). Certain industry sectors may be excluded from eligibility.

grant_eligibility_criteria|eligible_expenses

The grant covers expenses directly associated with professional services and essential operational measures.

Professional fees for external consulting firms.
Costs related to the purchase of specialized, relevant, and necessary information, including statistics and market analyses.
Travel and accommodation expenses for professionals from external consulting firms, in compliance with government standards outlined in the Quebec Government Management Policy Handbook.
Expenses related to the preservation of major industrial assets to prevent the deterioration of a building and its principal equipment, including electricity costs and maintenance of the building and its equipment.

grant_eligibility_criteria|zone

This grant is targeted at companies operating within a specific region, to ensure that strategic businesses in need are supported efficiently. The eligible geographical location is restricted to ensure focus on the local economic ecosystem.

Companies established and operating in Quebec, Canada.

grant_single_labels|register

Here are the steps to submit an application for PARESAU - Volet 1 grant:

Step 1: Review Eligibility Criteria
Ensure the business is operating in Quebec for at least three years.
Confirm that the business is categorized as strategic by the MEIE.
Verify that the business is not under the protection of the Companies' Creditors Arrangement Act or the Bankruptcy and Insolvency Act.
Step 2: Prepare Application
Fill out the "Formulaire de demande d'aide financière – PARESAU – Volet 1".
Prepare necessary documentation, such as studies or analyses addressing financial or operational challenges.
Compile detailed expense estimates for professional fees, travel costs, and asset preservation expenses.
Step 3: Submit Application
Email the complete application package to aidefinanciere@invest-quebec.com.
Ensure the submission is completed before the program's end date of March 31, 2025.
Step 4: Follow Up
Contact the Service d’accueil et d’information at 1 844 474-6367 for any inquiries regarding the application.
Keep track of confirmation emails or any correspondence from Invest Quebec.

grant_single_labels|otherInfo

The following additional information is relevant for applicants of this grant:

Applicants must ensure that their business is not under the protection of Canada's Bankruptcy and Insolvency Act.
Funding is provided as a non-repayable financial contribution, which covers up to 75% of eligible expenses.
The maximum funding limit is set at $100,000 per enterprise.
The deadline for applying under this program is March 31, 2025.

grant_single_labels|contact

aidefinanciere@invest-quebec.com

1-844-474-6367

Apply to this program

Strategic Support for Struggling Quebec Businesses

This grant aims to maintain the operations of strategic businesses in Quebec experiencing financial difficulties by supporting the development of effective solutions. Available funding aids in identifying and implementing strategies to surmount operational challenges and ensure sustainability.

Detailed Overview of PARESAU's Strategic Assistance Program

The PARESAU grant program is specifically designed to support businesses in Quebec that are pivotal to the province's economic landscape but face challenges threatening their operations. The program acknowledges the vital role these enterprises play in the local economy and aims to assist them in navigating and overcoming financial and operational hurdles.

One of the primary objectives of this grant is to enable eligible businesses to conduct comprehensive analyses of their current situations. These analyses may include studies assessing financial viability, operational efficiencies, and identifying the underlying causes of their difficulties. Furthermore, the grant supports feasibility studies that explore technical and economic dimensions of prospective solutions, confirming their viability and potential impact.

After these initial evaluations, the program facilitates the development, implementation, and monitoring of strategies specifically tailored to tackle the identified challenges facing the business. This process ensures that solutions are not only innovative but also practical and aligned with actual business needs. In cases where immediate intervention is necessary, the program allows for temporary management by an external third party to stabilize the company's operations, excluding any involvement from bankruptcy trustees.

Moreover, the grant extends to cover essential operations aimed at preserving major industrial assets. This includes expenses to prevent deterioration of significant infrastructural components, such as buildings and machinery. The emphasis is on sustaining critical functions until a feasible business recovery plan is solidified and enacted.

Financial assistance from PARESAU comes in the form of non-repayable contributions covering up to 75% of eligible project expenses, capped at $100,000 per business. It is crucial that entities benefiting from this support demonstrate their strategic importance to the region, as assessed by the Ministry of Economy, Innovation, and Energy, and are not in the midst of bankruptcy proceedings.

By targeting strategic sectors and addressing their specific challenges, the PARESAU grant is a lifeline for businesses grappling with the threat of closure. This program underscores a commitment to preserving valuable economic contributors and fostering a sustainable business environment in Quebec.