Youth Strategy loan
Amount of loan ranging from $5,000 to $25,000
Repayment terms
Capital and interest repaid via monthly instalments
No interest payable on the loaned amount for the first 24 months following disbursement
Moratorium of up to six months on the repayment of the capital
Repayment at the National Bank’s prime rate, plus a rate varying between 3.05% and 6.05%
Guarantees may be required
Use of the financing
Down payment in the form of capital
Acquisition of capital assets
Start-up costs
Working capital
Eligibility criteria
Be between the ages of 18 and 39 upon applying
Maximum of two young people per project
Hold majority shares in the company
More specific criteria may apply
Process for submitting a financing application
Wanting to provide exceptional service to entrepreneurs who are seeking financing, the CAEHM now offers an online application form (Step 1). After we receive your application, one of our advisors will contact you to finalize steps 2 and 3.
STEP 2
Fill out the grid to determine the eligibility of your financing application. (The grid will be emailed to you after you fill out the application form in Step 1).
STEP 3
Write a business plan (provide information about the members of management and data about the market and production)
Genral conditions for submitting a financing application
Authorize the CAEHM to run a credit check on you
The business’s head office must be located within the area served by the CAEHM
The loan granted cannot be used to refinance an existing debt
In accepting the loan, the entrepreneur agrees to the following:
- Be monitored during the entire repayment period.
- Provide financial statements at regular intervals. The interval will be determined based on the project’s maturity.
- Help draw up a support plan that will take the form of updated management skills, mandatory coaching and/or mentoring.
