The largest portion of our financing (for now) comes from the Business Development Bank of Canada. The BDC is a financial institution wholly owned by the Government of Canada. They offer all sorts of long-term financing and venture capital. They will not give away grants, but are willing to share some of the early risks and offer management support to entrepreneurs.
The loans we are working on with the BDC are split into two groups. The last one will cover part of our start-up equipment, if we can prove our project is viable when we will have enough solid contracts. The first one is closer to some form of venture loan, with strict rules to follow. Heck, we’ll even get a penalty if we don’t use the money they are willing to lend us.
My associates and I are ready to take on these rules and an interest rate to boot, since it helps us stay the sole proprietors of the company. We are still looking into other public funding options and we got very good news these past few days.
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on 2007-09-13 at 12.01 pm
“En fait, nous aurons même une pénalité si nous ne dépensons pas tout l’argent qu’ils veulent nous prêter” : ca me rappel le gouvernement … il faut qu’il depense tout leur budget dans l’annee fiscal sinon l’an prochain il coupe! Envoyer des boites vide c’est pas une legende!
on 2007-09-13 at 5.28 pm
Hey would it be possible if I put a link to modus & this blog Marc you could put a link to my blog ? It’s new and I animation as well and I would love some exposure.
on 2007-09-15 at 3.37 pm
Hi Christopher,
I’d recommend typing in your site’s URL in the Website box when you post a comment. That way your name becomes a link to your site, take a look at mine.