TYPES OF LOANS

Loan calculator
    


The Express loan, under the authority of the Board of Directors, is created to encourage business development in Prescott-Russell.  Whether is be for:
  • publicity campaigns;
  • marketing;
  • promotional tools;
  • improve or refresh equipments;
  • leasehold improvements;
  • increase inventory;
  • business development, or;
  • help with working capital.
FINANCIAL SUPPORT
  • Term loans available up to a maximum of $15 000 in the form of financial loans for businesses who qualify;
  • Applicable interest rate is the prime rate of the PRCDC + 3%;
  • Flexible terms and reimbursment;
  • Upon reception of the complete file, a decision will be transmitted within 72 hours (business days);
  • Evaluation of the viability of your business venture and assistance obtaining realistic financing;
  • Information concerning the government and other program services available to SMEs.
APPEAL PROCEDURE

If the Board of Directors rejects a proposal for financial assistance, the applicant may appeal the decision to the Board of Directors.

If a client requests an appeal, members of the Board of Directors may be invited to attend a meeting with the client in question.  The intention is to have the appeal heard by the required majority of the members.  If the request is subsequently refused during the Board of Directors consideration, the applicant with have no further appeal. 
The Young entrepreneur loan, under the authority of the Board of Directors, has been created to reduce the out-migration of young people towards urban centers.  This program aims at supporting young entrepreneurs from 18 to 35 years of age in the start-up, acquisition, expansion and modernization of their business.  The program promotes the leadership of young people and the development of their social, cultural and economic engagement in our region.

FINANCIAL SUPPORT
  • Term loans available from $5 000 to $30 000 in the form of financial loans for businesses who qualify;
  • Applicable interest rate is the prime rate of the PRCDC + 3%;
  • Flexible terms and reimbursment;
  • Possibility of 24 months without interest;
  • Possibility of 24 months without capital reimbursement;
  • Maximum amortization period of 5 years;
  • Evaluation of the viability of your business venture and assistance obtaining realistic financing;
  • Information concerning the government and other program services available to SMEs.

APPEAL PROCEDURE

If the Board of Directors rejects a proposal for financial assistance, the applicant may appeal the decision to the Board of Directors.

If a client requests an appeal, members of the Board of Directors may be invited to attend a meeting with the client in question.  The intention is to have the appeal heard by the required majority of the members.  If the request is subsequently refused during the Board of Directors consideration, the applicant with have no further appeal. 
The Investment Fund loan, under the authority of the Board of Directors, is to create and maintain permanent full time and part time employment opportunities in the region by providing a source of financing that has a flexible repaying structure to new and exisiting businesses.

FINANCIAL SUPPORT
  • Term loans available up to $250 000 in the form of financial loans for businesses who qualify;
  • Applicable interest rate is the prime rate of the PRCDC + 3%;
  • Flexible terms and reimbursment;
  • Possibility of 12 months without capital reimbursement;
  • Evaluation of the viability of your business venture and assistance obtaining realistic financing;
  • Information concerning the government and other program services available to SMEs.
APPEAL PROCEDURE

If the Board of Directors rejects a proposal for financial assistance, the applicant may appeal the decision to the Board of Directors.

If a client requests an appeal, members of the Board of Directors may be invited to attend a meeting with the client in question.  The intention is to have the appeal heard by the required majority of the members.  If the request is subsequently refused during the Board of Directors consideration, the applicant with have no further appeal. 
The EDISO program will only provide financial assitance to francophone projects.

Please refer to french page on this website for information.