PARESAU – Component 1
Overview
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.
At a glance
Funding available
- Reduce the ecological footprint
- Maximum amount : 100,000 $
- Up to 75% of project cost
- Closing date : March 31, 2025
Eligible candidates
- All industries
- Quebec
- For-profit business
- Social economy enterprise
- Non-financial cooperative
- All revenue ranges
- All organization sizes
- All groups
Activities funded
This grant targets support for strategically significant companies facing financial difficulties by providing them with solutions to ensure their continuity. It encompasses a variety of projects focused on auditing and developing recovery strategies.
- Conducting a study or analysis to assess the financial and/or operational situation of the company.
- Conducting a feasibility study to validate the technically and economically viable solutions.
- Developing, implementing, and monitoring solutions aimed at addressing the company's difficulties.
- Temporary management of the company by a third party, excluding trustees.
- Expenses intended for the preservation of major industrial assets in the event of a short-term recovery.
Eligibility
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).
Who is eligible?
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.
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.
Eligible geographic areas
- Businesses operating in Quebec for at least three years.
Selection criteria
The evaluation and selection of projects for this grant are based on the successful completion of certain specific steps and conditions.
- Analysis of the strategic nature of the company.
- Assessment of the necessity of the requested financial aid.
- Verification of the absence of negative impacts on existing businesses.
How to apply
Preparation of documents
- Draft a detailed proposal on the development of the solutions considered for the company.
- Prepare the financial and operational analyses justifying the need for support.
- Compile the financial documents showing the warning signs of closure.
- Confirm that the company meets the "strategic" qualification criteria of the MEIE.
- Gather all requested supporting documents, including quotes and proposals from external consulting firms.
Filling out the application form
- Download the financial assistance application form – PARESAU – Component 1.
- Complete all required sections of the form accurately.
Submission of the request
Confirmation and follow-up
- Monitor the receipt of a confirmation email for the submission of the application.
- Keep a copy of the confirmation for the company's records.
Additional information
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.
