With IMPLIQ Financing, you can obtain a loan or loan guarantee.

ELIGIBILITY CRITERIA

Eligible Businesses

Your business is eligible if it falls into one of the following categories:

• Cooperative undertaking:

  A cooperative constituted under the Québec Cooperatives Act or the Canada Cooperatives Act;
• Federation or confederation of cooperatives;
• Subsidiary or subsidiary of another subsidiary under the majority control of one or more cooperatives;

• Non-profit organization (NPO), including a subsidiary
  of a NPO:

  A non-profit legal entity that was constituted under Part III of
  the Québec Companies Act or Canada Not-for-Profit
  Corporations Act.
  
  A NPO has the following characteristics:

  • It provides goods or services primarily for its members or the community in order to meet recognized needs.
  • It derives most of its revenues from business activities with public or private-sector consumers.
  • It must be democratically managed and strives to foster individual and group participation, autonomy and accountability.
  • It may include, among its members and the members of its board of directors, persons designated by the government or by public or quasi-public agencies reporting to the government. However, such members must remain a minority and cannot exert control over the business's policies. Businesses controlled directly or indirectly by one or more levels of government are not eligible.

The following are not eligible:

• Community organizations;
• Annual events.

Eligible Projects

IMPLIQ Financing is designed to meet your business's needs every step of the way (start-up, growth and so on).

Most projects are eligible. Here are a few examples:

• Working capital;
• Financing for financial commitments;
• Acquisition of intangible assets (trademarks, patents, etc.);
• Product or market development;
• Fine-tuning and marketing of products or services;
• Financing for new or existing worker-shareholder cooperatives;
• Capital asset acquisitions;
• Acquisition of cooperatives shares.

Special Requirements

Your business must have adequate management, qualified personnel and a sound organization. It must also be financially viable and have a social aim. Moreover, it must have solid community roots that help ensure the success of its undertakings.

FINANCING DETAILS

Terms and Conditions

• The minimum financing provided by Investissement Québec is $25,000.
• Financing can cover up to 100% of project costs.
• A loan guarantee can cover up to 85% of the net loss.
• The maximum duration of the financial assistance is 10 years for projects involving an increase in working capital and 25 years for projects involving the acquisition of capital assets.
• Depending on the project, It may be possible to defer repayment of the capital.
• Securities may be required.

Fees

Fees depend on the nature of the project.

PROCEDURE

Contact an Investissement Québec advisor at 1 866 870-0437.

January 2012