Financial Products
All Our Solutions

Back to the list of financial products


ESSOR

 

Concerted temporary action program for businesses

 

For businesses whose liquidity is affected by the repercussions of COVID-19

This new emergency funding measure provides ad hoc and exceptional support for businesses affected by the repercussions of COVID-19.

Eligible Businesses

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.

Eligible Projects

Businesses must show that their cash flow issues are temporary and that the liquidity shortage stems from:

 

  • A problem involving the supply of raw materials or products (goods or services)
  • An inability, or a substantially decreased ability, to deliver goods, products or services

Applications will be reviewed on a case-by-case basis, according to the business’s circumstances and Investissement Québec’s management practices.

Eligible Industries

All industries are eligible, except for the following:

 

  • Weapons manufacturing or distribution
  • Games of chance and gambling, combat sports, bars, racing and other similar activities
  • Production and sale of tobacco and drugs along with services related to their use, except for projects involving pharmaceutical-grade products approved by Health Canada and having a DIN, or their ingredients, as well as R&D projects licensed by Health Canada
  • Any activity whose main purpose is protected by the Canadian Charter of Rights and Freedoms (religion, politics, human rights advocacy, etc.)
  • Any other activity that may offend public morals.

Details of Financial Assistance

  • A loan guarantee is the preferred form of financing. Financing can also take the form of a loan from Investissement Québec.
  • Investissement Québec aims to work in close cooperation with financial institutions and federal authorities in order to share risks
  • The minimum funding amount is $50,000.
  • Refinancing is prohibited.
  • This measure is designed to shore up the business’s working capital.

 

Special conditions may apply.

Learn More

A loan guarantee is the preferred form of financing. Financing can also take the form of an Investissement Québec loan.

 

  • For businesses that are already Investissement Québec clients, contact your account manager or project manager directly by e-mail or telephone, using our online directory.

 

  • For non-clients seeking a loan guarantee, contact your financial institution first. It will get in touch with one of our account managers.

 

For any other situation, please contact Customer Service at 1 844-474-6367.

 

To reach an account manager or project manager, refer to our online directory.

 

March 2020

Share

Contact your expert

André Williot

Client Service Officer

1 844 474-6367
Share
Top