Update – July 13, 2021
Applications for financial assistance under the Concerted Temporary Action Program for Businesses (PACTE) must be submitted within at most four weeks after the public health emergency is lifted.
Under the Assistance for Businesses in Regions on Maximum Alert (AERAM) component, only applications for increased financial assistance may be accepted up to four weeks after the end of the public health emergency. The period for submitting new applications for the AERAM component is over, since these applications had to be received at most four weeks after the resumption of operations in the economic sectors subject to a closure order.
In addition, businesses in the tourism sector may file their applications under the Tourism component of the program up to four weeks after the later of the following dates:
This emergency funding measure provides ad-hoc and exceptional support for businesses affected by the repercussions of COVID-19.
This financial assistance is available to businesses operating in Québec, including cooperatives and other social economy enterprises with commercial activities. Eligible businesses are those that find themselves in a precarious situation and temporary difficulty as a result of COVID-19. They must show that their financial structure offers realistic prospects for profitability. Businesses must not be under the protection of the Companies’ Creditors Arrangement Act or the Bankruptcy and Insolvency Act.
Businesses must show that their cash flow issues are temporary and that the liquidity shortage stems from:
Applications will be reviewed on a case-by-case basis, according to the business’s circumstances and Investissement Québec’s management practices.
AERAM was created to support businesses that must partially or completely discontinue operations because they are located in
maximum-alert regions (red zones).
For more details and to see all sectors of economic activity subject to a closure order, click here .
The loan beneficiary can be the establishment’s owner or a tenant occupying a commercial space.
Applications for financial assistance under the AERAM component must be filed at the latest within four weeks after the resumption of business operations in an economic sector subject to a closure order.
The period for submitting new applications is over.
Applications for financial assistance (including increases) may be filed up to four weeks after the later of the following dates:
To be eligible, tourism industry businesses* must be registered on the Bonjour Québec website.
Tourism industry businesses are eligible, except for:
* Travel agencies do not have to be registered with Bonjour Québec. However, only travel agencies that are registered on the website of the Office de la protection du consommateur and hold a “general,” “restricted” (adventure tourism travel organizer) or “restricted” (outfitter) travel agent permit are eligible.
All industries are eligible, except for the following:
Special conditions may apply.
Hotels with food service operations involving kitchens, dining rooms and reception (or banquet) rooms can qualify for AERAM on top of assistance granted to the tourism industry under the PACTE tourism program.
Other conditions may apply.
In order to facilitate a return to normal, businesses eligible for AERAM will qualify for additional assistance under the PACTE program.
This additional support is equivalent to one or two more months of eligibility for forgiveness, in addition to the preceding months, and covering up to 100% of the financial assistance granted.
For businesses that remained closed for 90 days or less
The maximum additional amount that can be paid is $15,000 per establishment. This additional support should cover fixed costs disbursed in the month following the reopening of the business concerned.
For businesses that remained closed for more than 90 days
The maximum additional amount that can be paid is $30,000 per establishment, that is, $15,000 per month. This additional support must cover the fixed costs disbursed in the two months following the reopening of the business.
Should you have any general questions about the Concerted Temporary Action Program for Businesses (PACTE), contact our call centre at
Our customer service centre will be pleased to provide you with more information about the program.
Please note, however, that in light of the COVID-19 situation, your financial institution is in the best position to assess the options applicable to your business. You should therefore contact your account manager at your financial institution first. This is a key step and involves working with your account manager to identify the relief measures to which you may be entitled (such as the moratorium on principal payment) in regard to your cash flow.
However, if your business is located in a red zone and has been ordered to close, please contact our call centre at 1-844 474-6367.
For any other situation
For any other specific questions regarding financing that you are already receiving from Investissement Québec, please contact your IQ account manager directly. To find your account manager’s contact information, please refer to our online directory.