$200 million to
support business owners with their growth and transformation
projects
MONTREAL, Jan. 12, 2021 /CNW Telbec/ - With the
participation of more than 245 private investors, National Bank
Private Investment has completed the initial capitalization of
$200 million for the National Bank
SME Growth Fund, L.P. (the "Fund"). This initial capital will allow
the Fund to support the economic recovery effort that is underway.
Businesses can now apply for financing to support their transfer,
growth and acquisition projects.
Announced in July 2020, the Fund
was created as part of an equal partnership with the Quebec government and will support
Quebec's economic recovery and the
digital transformation of its small and medium-sized enterprises.
It complements the bank financing available to businesses.
Submit your applications
National Bank Private Investment is ready to help businesses
achieve their goals. To be eligible, businesses must:
- Have assets of less than $200
million or a net worth of less than $100 million
- Request financing between $500,000 and $15 million
- Have a detailed business plan and project plan
- Have growth prospects
- Be a private company with an adequate capital structure
- Have been profitable in 2 of the last 3 years or have had
sustained and significant sales growth over this period
For more details on the eligibility criteria and exclusions,
please visit
https://www.nbc.ca/business/financing/financing-solutions/growth-equity.html#admissibilite.
To submit a project, please email
NBCprivateinvestment@nbc.ca.
Quote
"Since the beginning of the pandemic, National
Bank has been there for businesses. It's important for us to
continue to support them during this time of change. The SME Growth
Fund will allow us to offer concrete solutions to help them seize
new development opportunities. We're proud to be able to contribute
to the economic recovery and the vitality of the regions," said Luc
Ménard, Executive Vice-President, Managing Director and Head of
Private Investments at National Bank.
Link
National Bank Launches a Venture Capital and
Development Fund
About National Bank of Canada
With $332 billion in assets as at October 31, 2020, National Bank of
Canada, together with its
subsidiaries, forms one of Canada's leading integrated financial groups.
It has more than 26,500 employees in knowledge-intensive positions
and has been recognized numerous times as a top employer and for
its commitment to diversity. Its securities are listed on the
Toronto Stock Exchange (TSX: NA). Follow the Bank's activities
at nbc.ca or via social media such as
Facebook, LinkedIn and
Twitter.
SOURCE National Bank of Canada