Michelin Development Fund – https://michelindevelopment.ca/
How Do I Qualify?
Program Criteria and Loan Process
Michelin Development loans are up to $300,000 with no minimum, at the prevailing prime interest rate plus 2%. Terms are up to 5 years, plus the first 6 months are interest only. We do not require personal guarantees, but loans will be secured against business assets plus 25% in Hard Equity is required. The decision to provide loans is at the discretion of the Michelin Development Steering Committee and the committee’s decision is final.
Michelin Development offers free of charge access to our business expertise. This is available in all areas where we have internal expertise except for legal advice, web development, engineering, and insurance. This expertise must be problem, project, or issue specific and is for a maximum of five days. We do not help clients start or run their companies. We only make suggested recommendations and do not implement them.