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ESSOR

 

Is your business growing? Would you like to make an investment? We have a solution that will help you realize your greatest ambitions.

This program is administered jointly by Investissement Québec and the Ministère de l’Économie, de la Science et de l’Innovation.

 Investment ComponentForestry Businesses tab

 

ESSOR – for Fast-Growing Companies!

ESSOR is for ambitious entrepreneurs like you, who are looking to the future and seeking financing so they can carry out a substantial long-term development project.

 

Capital asset projects with eligible expenditures of $250,000 or more *

 

  • Creation of a new business
  • Expansion or modernization of an existing business

 

Projects that do not involve capital asset expenditures

 

  • The cumulative increase in payroll over the first three years following the project start date must be $2 million or more.

 

* For the Nord-du-Québec region and part of the Côte-Nord region, namely 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.

 

* The eligibility terms and conditions for tourism projects may vary.

Did you know?

ESSOR covers up to 50% ** of project costs. ESSOR provides the cash flow you need to carry out your investment projects while maintaining your regular operations.

** Financial assistance may amount to 55% in the case of projects carried out by eligible companies benefiting from the increase of 30% or more in the Québec government’s investment tax credit for the acquisition of manufacturing and processing equipment (ITC).

ESSOR, the Adaptable Solution

We understand that every situation is unique. That’s why we offer flexible terms and conditions that are adapted to your needs.

 

WHAT WE OFFER

WHAT YOU GET

A loan or loan guarantee

Financial products adapted to your needs

 

Financial assistance covering up to 50% of project costs (up to 55 % in certain cases)

The opportunity to carry out your investment projects while retaining your liquid assets for use in your ongoing operations

 

A loan guarantee covering as much as 70% of a net loss

The possibility of obtaining additional cash faster and more easily

 

A financing term of up to 10 years

A flexible term, depending on the asset’s useful life

 

Possible deferral of principal repayment

The benefit of having cash available while awaiting project completion

Eligility Criteria

Your business is eligible if it is a for-profit company, cooperative or social economy enterprise with commercial activities and if it is active in one of the following industries:

 

  • manufacturing;
  • environmental services;
  • customer contact centres;
  • software publishing;
  • private research centres;
  • businesses located in the Nord-du-Québec region, north of the 50th parallel, whose operations are related to retail and wholesale trade;
  • tourism (subject to certain restrictions***).

*** The eligibility terms and conditions for tourism projects may vary.

 

Learn more

Contact one of our advisors at 1 844 474-6367 to find out more.

January 2016