Local business assistance and support program

Scope of application

The City of Sorel-Tracy has mandated Développement économique Pierre-De Saurel (DÉPS) to manage a financial assistance program intended for businesses affected by the construction work on George Street.

The program is primarily designed to help cover certain fixed operating expenses required to maintain business activities during the construction period.

The assistance is provided in the form of a loan with the possibility of partial conditional forgiveness under certain conditions.

Program Objective

The program aims to complement the measures already implemented to support businesses located in the area directly affected by the rehabilitation work on George Street.

Its objective is to help maintain commercial activities and preserve the economic vitality of the downtown area throughout the duration of the construction project.

Eligible Expenses

Financial assistance is based on certain fixed operating expenses incurred over a maximum period of five months, including:

• commercial rent;
• loans related to the commercial property;
• electricity, gas and heating;
• municipal and school taxes;
• certain telecommunications expenses;
• insurance related to the commercial premises.

Non-Eligible Expenses

The following expenses are not eligible under the program:

• salaries and wages;
• inventory and perishable products;
• professional fees;
• capital expenditures or improvement projects;
• promotion and communication expenses;
• representation and travel expenses;
• expenses already covered by another assistance program;
• any other expenses related to the company’s regular operations.

Eligible businesses

The program is intended for downtown Sorel-Tracy businesses directly affected by the construction work and experiencing a decrease in customer traffic during the project period.

Eligible businesses include, among others:

• restaurants and food services;
• pharmacies, boutiques and retail businesses;
• personal services;
• bars and entertainment establishments.

Application Review Process

The DÉPS team provides support to businesses, reviews applications and follows up on submitted files.

Each application is analyzed to validate the company’s eligibility and the compliance of the expenses submitted.

Loan Conditions

Loans granted under the program are subject to the following conditions, among others:

• fixed interest rate of 6%;
• possibility of partial conditional forgiveness of up to 20% of the principal amount;
• amortization period of up to 60 months following the moratorium period.

Certain guarantees may be required depending on the application review.

Required documents :

Businesses wishing to apply must provide, among other things:

• a duly completed application form;
• the required financial documents and supporting documentation;
• proof of eligible expenses;
• documents related to applicable contractual commitments.

Businesses interested in applying are invited to contact DÉPS to validate their eligibility and receive support throughout the process.