Regional Economic Intervention Fund Bas-Richelieu

Description
A Quebec government initiative, this fund is intended to encourage private sector involvement in risk capital and promote the economic development of the regions.

Eligibility criteria
To be eligible the company must be involved in a start-up or development process.

The following sectors are excluded: agriculture, real estate and retail trade

In addition, the company must respect the following requirements:

It must have a project for seeding, expanding, increasing operating funds, obtaining certification or standard recognition, or any other project demonstrating medium term profitability and economic impacts for the region

Investment must not be used to reimburse financial partners or creditors
Job consolidation by means of turnaround must not be the primary mission of the Fund
The enterprise must submit a business plan including the following elements:
- the management team
- market position
- the investment plan
- the financial structure

Information about the deadline for submitting applications can be obtained from a business advisor at 450 742-5933.

Financial assistance
Investment in projects takes the form of equity or quasi-equity, for a minimal sum of $50,000 and a maximum of $750,000 per project.