Futurpreneur

Futurpreneur

 

FUTURPRENEUR STARTUP PROGRAM
A joint initiative of Futurpreneur/BDC

OBJECTIVE

To support startup businesses which are launched by entrepreneurs aged 18 to 39, holding a controlling majority. Startups, or business acquisitions for new entrepreneurs.

 

CONCEPT

La Ruche acts as a referal third party for Futurpreneur, where a campaign project that qualifies to the  basic eligibility criteria will be transfered and evaluated for a loan up to $60,000, in collaboration with  the Business Bank of Canada (BDC).

ENTREPRENEUR ELIGIBILITY

  • The entrepreneur(s) must be aged between 18 - 39 and own 51% of the business shares (i.e. control of the business)
  • Must be a permanent resident or a Canadian citizen
  • Have a good credit rating
  • Agree to produce a business plan and a provisional budget
  • Agree to being mentored over a 24 month period

PROJECT ELIGIBILITY

  • The project must be aimed at starting a new business, or aquiring one as a new venture
  • The project must enable the entrepreneur to commit full-time in the following phase of it's developpement process
  • The business must show significant sales for less than a year upon submittal (aka regular and significant income over time - not sporadic)
  • The project must be aimed at setting up a stock company, a partnership or a sole proprietorship business
  • The business must be able to produce sales in the short term duration following financing (3 months)

EXCLUSION CRITERIA

  • The project aims at setting up a cooperative society (COOP) or a non-profit organisation
  • The La Ruche campaign aims at financing R&D

ADDITIONNAL CRITERIA

A down payment equivalent to 10% of the BDC loan may be required of applicants (i.e. $4,000 in the case of the maximum $40,000 loan limit).


For more information, click here.
To submit a project now, click here.