Starting a business
Microcredit is nothing more or less than the community lending to the community!
AMCGÎM offers financing for the pre-start-up, start-up, development and consolidation of entrepreneurial projects. Loans can be issued up to a maximum of $20,000 at favourable rates and terms. Based on the principles of microcredit, our financing is characterized by capital raised and managed locally for entrepreneurs in the Gaspésie and Îles-de-la-Madeleine region.
Financing for business start-ups in Gaspésie and the îles
Accès Microcrédit Gaspésie-Îles-de-la-Madeleine offers financing to entrepreneurs in the pre-start-up phase of their business. In fact, our flexible, versatile and adaptable loans can be granted as part of a business start-up process. Whether it’s getting financing to obtain a certification or training related to your business project, AMCGÎM is there to support you.
Business start-up loans in Gaspésie and the îles
Our organization grants microloans of up to $20,000 to Gaspesian and Madelinot entrepreneurs. In addition to providing financing to entrepreneurs starting a business, our organization offers support to help you navigate the crucial stages of creating your business.
Microcredit for business expansion in Gaspésie and the îles
AMCGÎM offers financing for the development projects of businesses already in operation.
Characteristics of our financing
- Financing of up to $20,000 with a fixed interest rate of 7%;
- Flexible repayment terms of up to 5 years;
- Our funding can be considered as a down payment by other financial partners;
- The loans granted are individual, to the person, not to the company;
- No penalty for early loan repayment.
Prêt d’action communautaire Gaspésie–Îles-de-la-Madeleine (PACGÎM)
- Crowdfunding campaign in collaboration with La Ruche Gaspésie-Îles-de-la-Madeleine
- For individuals and social economy enterprises
- Loan of up to $20,000 at an interest rate of 5%
- Capital repayment holiday of up to 12 months
Fund for Women Entrepreneurs
- For women with a business or owning at least 50% of the shares of a business
- Loan of up to $20,000 at an interest rate of 7%
- Capital and interest repayment holiday for one year
- Benefits from an additional 12-month loan repayment term
« In my case, AMCGÎM supported me even though I was freshly out of school. I didn’t have enough money to make a convincing down payment in the eyes of a bank and didn’t have enough credit history to reassure an investor. »
- The business project must be viable, sustainable, legal and ethical;
- The entrepreneur must have limited access to traditional sources of financing;
- The head office must be in Gaspésie or the Îles-de-la-Madeleine;
- The promoter must demonstrate entrepreneurial qualities;
- The promoter must obtain the necessary permits for the operation of their project;
- The loan cannot be used to pay off pre-existing debt or a project that has already been completed;
- Upon obtaining the loan, the promoter agrees to follow the advice of one of our agents on a regular basis.
Loan on trust
A loan on trust is a loan that has no personal or real guarantee. It is a loan made in the name of the promoter that they will personally commit to repaying.
The term loan allows you to meet a specific financing need. It is depreciable, which means that you can repay the loan monthly. It is also possible to repay the loan early. In this case, the borrower makes a substantial repayment of their loan which will reduce the term of the loan and the interest paid.