PARESAU – Component 2
QC, Canada
Emergency funding for strategic businesses in financial distress
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
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- grant_single|allIndustries
grant_single|grantors
- Investissement Québec (IQ)
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grant_card_status|open
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The PARESAU - Volet 2 grant provides emergency funding for strategic businesses in Quebec facing significant financial difficulties, supporting their working capital needs for continued operations and job maintenance. Eligible activities include maintaining operations with justified and reasonable expenses, with a focus on solutions showing good medium-term profitability prospects, though the maximum funding amount is not specified in the provided information.
grant_single_labels|projects
This grant provides emergency financial support to strategic companies in precarious financial situations, enabling them to maintain operations and protect employment. The eligible activities focus on addressing working capital needs and ensuring the implementation of viable solutions for medium-term profitability.
- Support for working capital necessary to sustain ongoing operations of the company.
- Funding based on justified and reasonable expenses related to maintaining the company's operations.
- Implementation of solutions demonstrating good medium-term profitability prospects.
grant_single|admissibleProjectsExample
$ 160,000
Enhancing logistics for a growing organic farm collective
$ 180,000
Expanding production capabilities for a growing cheese producer
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's profile and circumstances of operation.
- The company must be a for-profit business, a cooperative, or a social economy enterprise.
- The company must have been in operation in Quebec for at least three years.
- The company must be at risk of closure or show signs of impending closure.
- The company must be designated as strategic by the Ministry of Economy, Innovation, and Energy (MEIE).
grant_eligibility_criteria|who_can_apply
Eligible applicants for the PARESAU - Volet 2 grant include for-profit companies, cooperatives, or social economy enterprises that have been operating in Quebec for at least three years, are at risk of closure or show impending signs of closure, and are deemed strategic by the Ministry of Economy, Innovation and Energy (MEIE).
grant_eligibility_criteria|who_cannot_apply
There are unspecified exclusions for companies and industries regarding their eligibility for this grant. The restrictions typically focus on sectors that do not align with the strategic objectives of the program.
grant_eligibility_criteria|zone
This grant is designed for businesses operating in specific geographical areas as defined by the funding body, to maintain strategic economic activities.
- Businesses based in Quebec, Canada.
grant_single_labels|register
- Step 1: Determine Eligibility
- Ensure your enterprise operates in a strategic sector and has been active in Quebec for at least three years.
- Verify that your business shows signs of potential closure or financial distress.
- Confirm your business is recognized as strategic by the Ministry of Economy, Innovation, and Energy.
- Step 2: Gather Necessary Documentation
- Compile financial statements demonstrating the company's financial situation.
- Prepare documents proving the business operational history and strategic importance.
- Collect any supporting documentation outlining the need for working capital and future profitability projections.
- Step 3: Contact Funding Body
- Reach out to the grant provider’s team for guidance by calling 1 844 474-6367.
- Seek clarification on any specific requirements or documents needed.
- Step 4: Design an Application Proposal
- Create a detailed proposal outlining the need for funding.
- Include a strategy for maintaining operations and employment.
- Showcase reasonable and justified expenses with long-term profitability plans.
- Step 5: Submit Application
- Send your completed application and all supporting documents to the designated authority as per guidance received.
- Ensure the submission is done within any specified deadlines.
- Step 6: Confirmation and Follow-Up
- Await confirmation that your application has been received.
- Keep track of communication for any required follow-up actions.
grant_single_labels|contact
1-844-474-6367
Apply to this program
Sustaining Strategic Enterprises in Quebec
The "Volet 2: Financement d'urgence pour les entreprises stratégiques" grant aims to support financially struggling strategic businesses in Quebec by providing temporary funding to sustain operations and preserve jobs. It is designed for enterprises considered vital by the Ministry of Economy, Innovation, and Energy, ensuring their continuity during challenging financial periods.
In-Depth Exploration of Emergency Financial Assistance for Strategic Quebec Enterprises
In response to the pressing financial challenges, Quebec's strategic enterprises are facing, the "Volet 2: Financement d'urgence pour les entreprises stratégiques" grant emerges as a lifeline. Spearheaded by the Ministry of the Economy, Innovation, and Energy, this initiative underscores the province's commitment to safeguarding its economic backbone. The grant's primary objective is to temporarily alleviate financial strains on qualifying businesses deemed strategic to Quebec's economic landscape, enabling them to maintain operations and employment levels until long-term solutions are implemented.
This program is more than a mere financial stopgap; it represents a strategic investment in Quebec's economic future. Eligible enterprises, distinguished as either for-profit companies, cooperatives, or social economy businesses, must be operational in Quebec for a minimum of three years and exhibit signs of potential closure. This clear eligibility framework ensures that the enterprises receiving aid are those whose stability directly influences the broader market.
The grant strategically targets working capital requirements, a crucial area for businesses amidst fiscal adversity. By financing necessary operational expenses, the grant allows enterprises to focus on long-term profitability and strategic growth. The funding is meticulously calculated based on justified and reasonable expense assessments, ensuring the aid not only addresses immediate fiscal needs but also establishes a foundation for future financial health.
More specifically, the grant runs for a finite duration of up to five years, during which the strategic enterprise is expected to stabilize and steer towards self-sustainability. This temporal limitation emphasizes the grant's role as a catalyst rather than a recurrent crutch, prompting enterprises to introduce robust strategies that capitalize on the temporary financial respite.
The broader program includes several complementary components beyond immediate financial assistance. While Volet 2 focuses on emergency funding, Volet 1 supports strategic enterprises in their quest for sustainable solutions. Meanwhile, Volet 3 offers additional relief tailored to businesses affected by specific events, such as the 2023 wildfires, integrating a multifaceted support structure designed to aid a diverse range of fiscal challenges strategically and holistically.
Ultimately, the "Volet 2: Financement d'urgence pour les entreprises stratégiques" grant is an integral component of a wider economic strategy. It acts as a critical initiative within Quebec's economic policy framework, aimed at preserving the state's most critical economic contributors during periods of vulnerability. By prioritizing the continuity and stability of strategic businesses, Quebec not only secures current employment and economic activity but also invests in a resilient future economy. Such foresight ensures that when immediate challenges subside, the province is well-positioned for growth driven by a fortified and adaptable business ecosystem.
In conclusion, this grant symbolizes a thoughtful and proactive approach to economic stewardship. It acknowledges the intricate link between financial stability and the sustained operation of strategic enterprises. As it supports these entities through short-term uncertainty with targeted financial backing, it equally challenges them to emerge stronger, more innovative, and better equipped to contribute to Quebec's economic resilience and prosperity in the longer term.
