ESSOR: Support for Investment Projects

 

This program is administered jointly by Investissement Québec and the Ministère du Développement économique, de l'Innovation et de l'Exportation. 

We can provide you with a loan, an interest-free loan or a loan guarantee.

 

ELIGIBILITY CRITERIA

 

Eligible Businesses

This program targets for-profit companies, cooperatives and social economy companies with activities similar to those of private for-profit companies in the following sectors:

 

  • manufacturing;
  • software publishing;
  • private research centres;
  • environmental services;
  • Tourism (subject to certain restrictions).

 

Eligible Projects

  • Capital asset projects with eligible expenditures of $250,0001 and over, including:
    • investment projects aiming to create a new business or expand (or modernize) an existing business;
    • projects involving the implementation of a process to provide a service or the establishment of a manufacturing facility leveraging a proven green technology developed in Québec;
    • projects to construct, adapt, expand or acquire a building in order to create new research and development (R&D) facilities for active research businesses that do not own research facilities and for those that carry out research in Québec in facilities that they own.
  • Projects that do not involve capital asset expenditures but for which the cumulative increase in payroll over the first three years following the project start date is $2million or more.

 

1 For the Nord-du-Québec region and part of the Côte-Nord region including the municipalities and Aboriginal reserves located in Caniapiscau Regional County Municipality and the Basse-Côte-Nord territory, business projects with eligible expenditures of less than $250,000 may be considered.

 

Special Requirements

  • Projects must be completed within three years and must not have a negative impact on existing businesses.
  • Projects must contribute to maintaining or creating jobs.
  • The assistance must complement private financing sources and other regular government programs.

 

FINANCING DETAILS

 

We can offer you a loan or loan guarantee. Our loan guarantee is a guarantee to repay the net loss suffered by the financial institution that grants you a loan, line of credit, letter of credit or any other financial commitment.

 

Terms and Conditions—Investment Project

  • The loan guarantee may cover up to 70% of the net loss.
  • The maximum term of the financial assistance is 10 years.
  • Financial assistance granted by governments may not exceed 50% of the total project cost. However, it may amount to 55% in the case of projects carried out in the Bas-Saint-Laurent region and 60% in the case of projects carried out in remote regions (Abitibi-Témiscamingue, Côte-Nord, Nord-du-Québec and Gaspésie-Îles-de-la-Madeleine).
  • Repayment of the principal may be deferred in some conditions.

 

Fees

Commitment and guarantee fees depend on the nature of the project.

 

PROCEDURE

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

 

 

Special conditions may apply.

 

ESSOR: Feasibility Study for an Investment Project

The ESSOR program also has a component focusing on the realization of investment projects (feasibility studies, market studies, process evaluations, etc.).

 

For more information

Contact an advisor at the ministère des Finances et de l'Économie at 1 866 463-6642.

 

March 2012