EMERGENCY ASSISTANCE TO SMEs – COVID-19 – $ 1.5 M

The assistance granted may take the form of a loan or a loan guarantee:

Financial assistance may reach a maximum amount of $ 50,000.

The interest rate will be 3%.

A 3 month moratorium on principal and interest will apply to all loan contracts.

A 36-month amortization, excluding the repayment moratorium, should be provided for.

Eligible Clientele

The following businesses are eligible for the program:

  1. businesses in all sectors of activity;
  2. social economy enterprises, including cooperatives and non-profit organizations carrying out commercial activities.

To be eligible, the business must:

  1. have been in activity in Quebec for at least one year;
  2. be closed temporarily, likely to close or show warning signs of closure;
  3. be in a context of maintaining, consolidating or relaunching its activities;
  4. have demonstrated a cause and effect link between their financial or operational problems and the COVID-19 pandemic.

Inadmissible Clients

  1. Production or distribution of weapons;
  2. Gambling and gambling, combat sports, racing, or other similar activities;
  3. The production, sale and services related to the consumption of tobacco or drugs with the exception of projects targeting pharmaceutical grade products approved by Health Canada with DIN, or their ingredients, and R&D projects with a license from Health Canada;
  4. Any activity whose main object is protected by the Canadian Charter of Rights and Freedoms (religion, politics, defense of rights, etc.);
  5. Any other activity which would be likely to undermine morality;
  6. Applicants who are under the protection of the Companies’ Creditors Arrangement Actare excluded (RSC, 1985, chapter 36) or the Bankruptcy and Insolvency Act (RSC, 1985, chapter B-3).

Eligible Funding

The assistance granted will take the form of a loan or loan guarantee of up to $ 50,000. Funding relates to the company’s cash flow requirements and is determined on the basis of justified and reasonable expenses. It must make it possible to compensate for this lack caused by:

an impossibility or a substantial reduction in the capacity to deliver products (goods or services) or merchandise;

a problem of supply of raw materials or products (goods or services).

How To Proceed

Discover the objectives of the measures

See the eligibility conditions

Select the type of aid (Loan)

Complete and send the request online Send the

complete and completed request to the address: UrgencePMECovid19@mrc-tdb.org

Your request will be assigned to an economic development advisor from the MRC.

Loan Application

1. SME emergency aid loan form                             

2. Calculation of Working Capital      

3. Government compliance procedure

Note

** Any request that is not completed or does not include all the required documents will not be analyzed. The customer will receive a message to this effect inviting them to complete their request.

** Complete requests will be analyzed and processed on a “First come”, “First served” basis.

** The client can send either a loan OR request a grant request.

FLEXIBLE LOAN FLI – Covid-19

The assistance may take the form of:

Moratorium 6 months on principal and interest from1 Aprilto September 30, 2020.

Exceptionally, an additional moratorium of two months may be granted.

This assistance is granted exclusively to MRC clients who have benefited from an FLI loan.

FLI clients of the MRC can contact the economic development service to negotiate an additional moratorium.

** Emergency aid for SMEs Covid-19 comes from the MEIQ (Ministry of Economy and Innovation of Quebec)

** The Temporary Financial Support Fund for SMEs and NPOs Covid-19 comes from the equity of the MRC de Thérèse-De Blainville