EXPRESS LOAN

Overview of the EXPRESS LOAN program:

The Express Loan Program, offered by the SADC (Société d’aide au développement des collectivités) and CAE (Centres d’aide aux entreprises) network, provides quick and flexible financing solutions for small businesses and entrepreneurs in Quebec. This program is designed to help businesses address urgent financial needs or take advantage of immediate opportunities without the lengthy approval processes typically associated with traditional loans.

Benefits of the EXPRESS LOAN program:

• The Express loan, under the authority of the Board of Directors, is created to support the continuity of business for SMEs in Prescott-Russell. Whether is be for:
• Publicity campaigns;
• Marketing;
• Promotional tools;
• Improve or refresh equipment;
• Leasehold improvements;
• Increase inventory;
• Help with working capital.

Eligibility criteria of the EXPRESS LOAN program:

• Business criteria
• Be located or plans to be located within the designated boundaries in the United Counties of Prescott and Russell (or in southern Ontario for EDISO loan)
• Have a head office registered in Ontario
• Demonstrate that it has exhausted all other means of financing, either by refusal of a financial institution or in partnership with a financial institution or other organization
• Demonstrate not to offend good morals (not to subscribe to illegal activities or commercial exploitation of sex, religion, and/or politics)
• Demonstrate, both the business and the owner(s), that government deductions are up to date
• Viability criteria
• Demonstrate commercial viability
• Demonstrate that it will contribute to improving the performance and productivity of the business
• Demonstrate that, in its good judgment, it presents a reasonable possibility of achieving economic viability
• Demonstrate that the proposed business or project will achieve viability and self-sufficiency
• Demonstrate the ability to repay all funds advanced to it but the PRCDC in the form of loans or participation in its shared capital
• Demonstrate the potential to contribute financially to the project
• Employment criteria
• Demonstrate that it has the potential to create new jobs and/or maintain them in the PRCDC's designated territories (Prescott and Russell and southern Ontario)
• Demonstrate that it will mainly employ local people to fill positions created and/or maintained