Recognizing that the EDISO Investment Fund is intented to meet the needs of francophone communities in southern Ontario, eligible recipients include francophone entrepreneurs and businesses.
To be eligible, any francophone entrepreneur or business requesting assistance must be located or considered to be relocated within the boundaries designated in the Southern Ontario EDISO Investment Funds' mandate.
The EDISO Investment Fund will only provide financial assistance to francophone business projects:
- that will help improve the business performance and productivity;
- that will primarily employ francophones to fill the jobs created and/or maintained;
- that, in its good judgment, will present a reasonable opportunity to achieve economic viability;
- that will have an active francophone offer (marketing, promotion, website, etc.).
There are no sector restrictions in which francophone businesses that are eligible to receive assistance from the EDISO Investment Fund, the company:
- must not undermine good morals (must not engage in illegal activities or commercial exploitation of sex, religion, politics);
- must demonstrate that it is commercially viable and;
- must demonstrate the ability to repay all funds advanced by the EDISO Investment Fund in the form of loans or common equity participation.
To be eligible to receive funding, the proposed francophone business must demonstrate that it has the potential to create and maintain new jobs in the region designated in the EDISO Investment Fund mandate and the francophone applicant must either be refused by or be part of a financial partnership with a financial institution.
RELATIVE CONDITIONS AND RESTRICTIONS TO FUNDING
The EDISO Investment Fund will not provide financial assistance in the form of loans and common equity participation to an applicant when:
- None of the jobs created and/or maintained by the project are occupied by a resident of the regions designated in the EDISO Investment Fund mandate;
- It is unreasonable to beleive that the proposed business venture or project will achieve viability or self-sufficiency.
Entrepreneurs of businesses seeking financial assistancce must first contact a recognized financial institution. The EDISO Investment Fund will not provide funding if they can obtain adequate funding from this source.
The minimum interest rate required on any investment made to any francophone applicant or business that qualifies for thre EDISO Investment Fund is the prime rate + 3%.
FINANCIAL ASSISTANCE LIMITS
The total amount of all loans granted to any applicant, business or eligible francophone corporation may not exceed $30 000 at any time. This amount can be modified at any time.
EXCLUSION OF LIABILITY
The EDISO Investment Funds, its agents, employees, directors/ officers and affiliated agencies, and anynone associated with the creation of the policies and procedures, or its contents shall not be liable to claimants or other persons for any costs, claims, losses, expenses or damages of any kind, including direct, indirect, incidental, special, exemplary or punitive damages, related to the procedures of the EDISO Investment Fund.