Since the Youth Strategy initiative was launched in 1997, 117 loans have been granted to young entrepreneurs in the Coaticook MRC.
Following the recent signing of a new agreement with Canada Economic Development, the amount authorized under this initiative has risen from $15,000 to $25,000 per entrepreneur with a maximum of two young entrepreneurs per business.
This significant increase will allow SADC to offer additional financial leverage to entrepreneurs up to 35 years of age to support them in acquiring, creating, expanding or modernizing a business. These are personal loans with a term that can now go up to seven years and with no interest payments for 24 months. In addition, entrepreneurs can obtain this loan more than once if they still fall within the eligible age range.
Don’t hesitate to contact us if you are interested in this initiative and would like more information about the terms and conditions. The Youth Strategy is further evidence that the Coaticook region SADC is proud to support young entrepreneurs in its region!