What is the SADC de la région de Coaticook?
The Société d’aide au développement de la collectivité (SADC) de Coaticook is a nonprofit economic development organization. This makes it an independent organization managed by a board of directors made up of members from various activity sectors.
The SADC offers two main categories of services:
It can offer you financial products in the form of loans to help you carry out your business projects. For more information, see the Business Guidance section.
The SADC can be a financial partner or launch various economic development projects in collaboration with other stakeholders in the community. It can also offer specialized support to businesses and organizations through an external expert who can help in several different areas. For more information, see Community Support.
How long does it take from loan application to disbursement?
Time frames may vary according to the project. They will depend on the time required to gather all the necessary documents to develop the file, as well as the loan’s approval by the Investment Committee and the number of applications currently under review.
What is the Coaticook SADC’s interest rate when it grants loans to businesses?
The interest rate is based on the Bank of Canada’s prime rate plus a risk premium. This additional premium is calculated according to the risk level of the project.
Why does the SADC periodically require financial statements from the business when a loan is granted?
The SADC’s business advisors follow up on financial statements to be able to support entrepreneurs by detecting potential needs or problems in their business. This personalized support is part of our mission and helps us optimize our programs and the advice of our team.
What are the eligibility criteria in order to take advantage of the translation services offered by the SADC?
The SADC uses its translation budget primarily for core activities in order to provide services and communications of equal quality in French and in English. It also utilizes this budget for local economic development projects geared toward English-speaking communities.
My business’s head office is not located within the Coaticook MRC. Can the SADC still help me?
No, but we can refer you to the SADC or CAE in your service area.
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