TECHNICAL ASSISTANCE LOAN
Cash advances from $1,000 to $10,000
With our Technical Assistance loan, you can cover consultants’ and specialists’ fees to conduct the necessary studies and analyses for your collective pre-start project or to develop your current enterprise, including startup of a new project, expansion, and recovery.
OBJECTIVES
- Support the emergence of new enterprises
- Foster the development of existing enterprises
- Ensure the continuation of social economy enterprises
CHARACTERISTICS
- Capital without a guarantee
- Repayable only when the project is completed
- No interest and capital payment until project completion
- until the realization of the project for companies in pre-startup, startup and expansion
- maximum 3 years for enterprises in consolidation or reorganization
- Possibility of a repayment agreement over a maximum of 36 months depending on the term of the loan
- Investment amount determined according to the company’s ability to obtain additional support from other partners in the file
- RISQ does not finance the refundable tax portion (GST and/or QST)
- Commitment fee: 1.5% of authorized total (max 75$).
- Application fee of $75 is deducted from commitment fee.
Down payment
| Loan amount | Minimum down payment | Other financial partner |
| 1 000 $ – 5 000 $ | 10 % | Recommended |
| 5 001 $ – 10 000 $ | 20 % | Required |
- A down payment above the minimum required and the presence of several financial partners in the project will be considered an asset.
- RISQ will give priority to projects that demonstrate strong roots in their community.
Down payment may be:
- Cash down payment from one or more project promoters
- Grant
- Donation
- Time invested up to 5% by one of the project entrepreneurs. The time investment must be recognized by the consultant in the offer of service.
ELIGIBLE PROJECTS
- Business plan
- Development plan
- Market study
- Strategic plan
- Feasibility/pre-feasibility studies
- Plans and specifications
- Organizational diagnosis
- Recovery plan
- Marketing plan
- Budget forecasts
- Technical studies
- Any other study required to undertake a project
INELIGIBLE EXPENDITURES
The exclusions determined by RISQ contained in the Eligibility page
HOW TO APPLY
STEPS
- Send us the requested documents and the $75 application fee
- RISQ’s team analyzes the proposal
- If approved, signature of RISQ’s investment offer
- Send in the documents requested in the offer
- Reception of first disbursement, or 50% of the investment
- Consultant hired by your enterprise sends in final report before receiving final disbursement equalling 50% of the authorized amount
- Repay the loan to RISQ on completion of project
DOCUMENTS
- Signed application form — Technical Assistance
- Cheque for $75 made out to RISQ to cover application fee (non-refundable)
Plus the documents mentioned on page 6 of the application form:
- Statement of work or detailed offer of service prepared by selected consultant
- Description of project: history of the organization, project process, demonstration of its social benefit and community support
- Resolution of the enterprise conferring signing authority on the individual who signed the application
- Copies of financial partners’ confirmations and down payment (if applicable)
- Copy of letters of patent (NPO) or charter (co-op)
- Copy of by-laws (including borrowing by-law)
- Other relevant documents: support letters, etc.
Additional documents to submit – Expansion and consolidation:
- Cash budget and financial forecast (if applicable)
- Copy of most recent annual activity report
- Copy of annual financial statements for the last two years
- Recent interim financial statements (list of accounts receivable and payable)
- Financial statements of affiliated enterprises (if applicable)