Evol — Conventional start-up loan

Overview

Get a loan ranging from $20,000 to $100,000 for your new business start-up projects (0 to 2 years)

At a glance

Eligibility and requirements

Money Minimum : $20,000 Maximum : $100,000 Repayable Funding limits Requires a minimum down payment of 5% of the project value Maximum amortization period of 8 years Interest rate Interest rates are calculated based on the level of risk Amortization period ranging from 2 to 8 years Possibility of a moratorium at the granting and during the loan Possibility of a moratorium in the case of parental leave Fees for analysis and follow-up of the file are applicable You Are from a community that is under-represented in entrepreneurship (women, racialized people, immigrants, First Nations, Inuit, LGBTQ2+ community and people with disabilities) Own at least 25% of the shares and votes Hold a strategic position within the company Are able to demonstrate that the business has adopted or is committed to adopting sustainable development practises based on the 17 UN goals

How it works

You must submit a business plan. Provide financial statements projected over 2 years. Provide shareholders CVs.

How Mona Studio helps business owners use this program

Evol — Conventional start-up loan is one of many Canadian funding options listed in our grant finder. Mona Studio helps general teams translate program requirements into a practical workflow or AI adoption scope for leadership review, grant writers, and lenders. We summarize eligibility and funding here for discovery — confirm all details on the official program website before applying.

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• Evol — Conventional loan — Evol