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The Convertible Loan – Tourism Development is intended for tourism businesses located in Vaudreuil-Soulanges that meet the following eligibility criteria:

• Present a project in line with the development opportunities and challenges identified in the “Plan de développement touristique Vaudreuil-Soulanges 2022-2026“
• Be an already existing company or an entrepreneur wishing to develop a new emerging sector of activity, either alone or in partnership with an already existing tourism business
• The company’s post-project equity must reach 15%. For some projects, this requirement may be higher or lower depending on the quality of the promoters and the project
• In the case of a partnership, it must be established for a 3-year period minimum and the applicant must file the partnership agreement
• The company must submit:
  • Detailed project cost
  • Timetable for completion
  • Financial statements for the past three years (income statement and balance sheet)
  • A sustainable three-year budget forecast
• DEV gives itself the right to withdraw from the financial package should the project no longer meets the criteria or is modified without DEV’s approval
• Other than a capital project, the company undertakes to complete the project within 12 months of request’s acceptance
• In the case of a construction project, the company undertakes to start the project within 6 months and complete it within 18 months of request’s acceptance

• Real estate development projects that do not have an active tourism link. If the project is not primarily for tourism, it must demonstrate it will attract customers from outside Vaudreuil-Soulanges
• Religious, sexual, political, gambling and drinking establishments or any other undertaking whose activities could be prejudicial to DEV
• Expenditures allocated to the implementation of the project made before 1 January 2023
• Company upgrades related to sanitary measures
• Salaries and other expenses connected to the main business operation
• Professional and consulting service fees provided by a business in which the entrepreneur holds an interest, as well as recurring expenses

• Costs related to working capital, debt servicing, operating losses, capital, and capital repurchase
• Salaries, regular operating, and management costs of promoter
• Expenses for company’s promotion (professional services of marketing/communications/social media)
• Professional fees to draft a business plan, financial forecasts, strategic planning
• Donations and contributions in-kind or in services
• Purchase of automobile or motorized equipment
• Rights of way, servitudes, and other related costs
• Refundable taxes

P.S. DEV reserves the right to exclude other expenses at its discretion.

• Project cost between $20,000 and $250,000
• Loan of $10,000 to $40,000 (determined by DEV, depending on availability of funds)
• Financing rate of 2% (during the project operation period up to a maximum of 60 months)
• 60 months amortization
• Maximum moratorium of 24 months on capital
• If the company terminates the project (voluntarily or involuntarily) before the term of the loan, the capital balance will be due and will bear interest at the rate of 5%

To apply, the contractor must send the application form below, accompanied by the required documentation (project’s financial forecasts, completion schedule and, if applicable, partnership agreement) to the following address: ngagnon@developpementvs.com.

For more information on the Convertible Loan – Tourism Development, please contact Mme Angélique L’Écuyer, Commissioner for tourism development, by email at alecuyer@developpementvs.com or by phone at 450 424-2262, ext. 3239.