Working capital loan
KEEP A STEADY STREAM OF WORKING CAPITAL FLOWING INTO YOUR BUSINESS
This type of financing covers business operating costs for one year, including expenses related to hiring key employees.
This loan can be combined with conditionally non-repayable financing that may cover 50% of external professional fees related to your project.
- 2 options
- Term or equity loan, repayable over 5 years, or under certain conditions, up to 7 years. Possibility of postponing principal payments for up to 12 months, or under certain conditions, up to 24 months.
- Debenture maturing at between 3 to 5 years, or under certain conditions, up to 7 years, and which may be convertible and backed by stock options.
- Collateral may be required for this type of financing
- Repayable at any time without penalty
- Working capital related to the first year of the project, excluding R&D expenses
Competitive and risk-based
- Be legally constituted
- Be located in the DEL region or plan to be
- Operate in an eligible industry and offer value-added services or products generally intended for businesses (B2B)
- Submit a project that will help to create and/or maintain jobs
- Submit a project for which government financing and DEL financing combined cover a maximum of 50% of the project expenses
- Demonstrate that the project is based on realistic financial forecasts demonstrating profitability and growth potential
- Provide current financial statements showing 20% equity after the project and ability to repay
- Demonstrate that the business and entrepreneur are not in default to the government or its creditors, nor are they the subject of any litigation
- Financial statements for the past 3 years and current year
- Projected financial forecasts for the next 2 years of the business
- Business model and revenue model or business plan
- Entrepreneur’s personal financial statement and credit report
Book an appointment
DEL can help you find the type of financing that best matches your business needs. Our services are free of charge.
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