Thank you very much, Mr. Chair.
I wanted to follow up a little bit further, Monsieur Mayrand, on this question of seed funding and whatever amounts one guesses at. The fact of the matter is that for most local campaigns, the fundraising itself, which is part of the campaign activity, doesn't really get going until at least a couple of weeks in, in terms of when money starts rolling in.
So seed funding often might need to be more than, say, a ballpark $4,000. It might be prudent to have a fair bit more if you know the record in the riding is that you're able to raise a fair bit more.
Is it your reading of the bill that if an EDA were to seek a loan of, let's say, $20,000, you would actually need, say, 15 guarantors, or 16 guarantors, because the guarantors can't go above $1,200? Is that correct?