Financing - Young Entrepreneurs Loan
The Young Entrepreneur loan has been created to reduce the out-migration of young people towards urban centres. This program aims at supporting the young entrepreneurs from 18 to 35 years of age in the start-up, acquisition, expansion and modernization of their business. The Young Entrepreneur 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 for businesses who qualify;
Applicable interest rates are the National Bank of Canada rate + 3%;
Flexible terms;
Assistance in preparing your business plan;
Evaluation of the viability of your business venture and assistance in obtaining realistic financing;
Information concerning government and other programs and services available to SMEs;
Possibility of 24 months without interest;
Possibility of 24 months without capital reimbursement;
Possibility for a maximum of two young entrepreneurs to obtain a loan for the same project;
Maximum amortisation period of 5 years.
ELIGIBILITY CRITERIA
The loan must be to start, maintain or expand a business;
The business must be situated in the United Counties of Prescott and Russel region;
The business must create or maintain employment;
The applicant must have been refused by a financial institution or in partnership with a financial institution;
The Young Entrepreneur loan cannot be used to repay debts or obligations owed to the Government of Canada, the Government of Ontario or any other municipal/regional government;
Both the company and the owner must provide proof that they are up to date with government deductions;
Grants, bursaries or forgivable loans are not available through the Young Entrepreneur program.
BEFORE YOU BEGIN
Please downlaod, fill out and submit with your application
Documents to downlaod
HOW TO APPLY
To download the printable version of the application. PLEASE NOTE: ONLY THE ONLINE VERSION WILL BE ACCEPTED
To download the online version of the application
If you have any questions, please contact us:
info@sdcpr-prcdc.ca
1.877-632.0918
613.632.0918