MRC Les Basques — Local Investment Fund (FLI) / Local Solidarity Fund (FLS) QC Canada

MRC Les Basques — Local Investment Fund (FLI) / Local Solidarity Fund (FLS)

QC, Canada
Entrepreneurial support and financial aid for businesses
grant_single_labels|summary
grant_single_labels|preview
grant_single_labels|projects
grant_single_labels|admissibility
grant_single_labels|criteria
grant_single_labels|register
grant_single_labels|otherInfo

grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|maxCount
  • grant_single|projectCostPercent
grant_single|deadlines
  • grant_single|closingDateDecember 03, 2024
grant_single|financingType
Grant and Funding
Loans and Capital investments
grant_single|eligibleIndustries
  • Retail trade
  • Information and cultural industries
  • Professional, scientific and technical services
  • Health care and social assistance
  • Other services (except public administration)
  • Public administration
grant_single|grantors
  • MRC Les Basques
grant_single|status
grant_card_status|open

grant_single_labels|preview

The grant program provides financial support to businesses with a maximum funding amount of $150,000 available, aiming to assist with business start-ups, expansions, entrepreneurial succession, and improvements in productivity. Eligible activities include acquiring necessary technology, equipment, engaging in organizational improvements, and fostering sustainable business practices within the MRC des Basques.

grant_single_labels|projects

The Fonds d’aide aux entreprises and Fonds local d’investissement grant supports various entrepreneurial projects aimed at fostering the creation and growth of businesses. These projects range from business startups to expansions and transformations, emphasizing on creating viable enterprises and supporting local economic development.
  • Startup or launch of new businesses.
  • Business acquisition or entrepreneurial succession projects.
  • Improvement and transformation projects to enhance productivity or implement sustainable practices.
  • Business growth and expansion initiatives.
  • Temporary financial support for short-term financial gaps.
  • Restructuring or turnaround projects for businesses facing financial difficulties.

grant_single_labels|admissibility

Eligibility for this grant is determined by specific criteria related to the enterprise's structure, location, and operational status on the territory of the MRC des Basques.
  • The enterprise must be a for-profit legally constituted entity under the laws of Quebec or Canada, or a collective enterprise (cooperatives and non-profit organizations with commercial activities) compliant with the Social Economy Act.
  • It must operate within the territory of the MRC des Basques and have its headquarters in Quebec.
  • The enterprise must be registered with the Quebec Enterprise Registrar (REQ).
  • The enterprise must be in the commercialization stage for projects of start-up, growth, or expansion.
  • It should adhere to ethical practices, not be involved with illegal activities or those negatively impacting public morals or safety.
  • Enterprises involved in exclusive subcontracting or privatization efforts that only displace economic activities are ineligible.
  • The applicant must not be included in the Registry of non-eligible enterprises for public contracts (RENA).
  • Applicants must contribute a financial commitment such as a minimum 20% equity for start-ups or maintain 20% equity for existing businesses after project implementation.

grant_eligibility_criteria|who_can_apply

Eligible applicants for the CLD des Basques grant include individuals or entities who are looking to start, consolidate, acquire, or ensure business succession in the MRC des Basques region. This can include newly established companies or experienced entrepreneurs wanting to take over existing businesses. Additionally, projects must be located within the MRC des Basques territory and should demonstrate a clear benefit to the local economic development and job creation.

grant_eligibility_criteria|who_cannot_apply

This grant excludes certain companies and industries due to their status or main activity. The restrictions aim to ensure that funds are directed toward strategic sectors aligned with the grant's objectives.
  • Companies registered in the Register of businesses not eligible for public contracts (RENA).
  • Corporations that have failed previous financial obligations with the Ministry or regional county municipality.
  • State-owned enterprises or companies controlled by a government (municipal, provincial, or federal).
  • Companies under protection of the Companies' Creditors Arrangement Act or the Bankruptcy and Insolvency Act.
  • Enterprises with unethical behavior impacting governmental or municipal integrity.
  • Businesses with poor environmental responsibility or human rights practices.
  • Entities involved in the production or distribution of armaments.
  • Activities related to fossil fuels such as oil and thermal coal exploration, extraction, drilling, production, refining except for transitions to a low-carbon economy.
  • Gambling or betting operations, including casinos and bingo halls.
  • Businesses involved in violent games, combat sports involving live species, racetracks or similar activities.
  • Any form of sexual exploitation, such as erotic bars or production of pornographic material.
  • Real estate management and development, except for service development projects for tenants or residents.
  • Production, sale, and services related to tobacco or drugs with certain exceptions for the FLI related to pharmaceutically approved cannabis or industrial hemp.

grant_eligibility_criteria|eligible_expenses

The eligible expenses for the grant from the Fonds local d'investissement (FLI) include specific costs essential to business operations, growth, and entrepreneurship projects.
  • Additional working capital necessary for project realization over two years.
  • Capital expenses directly related to the project, such as acquisition of technology, land, buildings, equipment, machinery and rolling stock, and construction or renovation costs.
  • Professional fees for project feasibility analysis, external audits, or impact studies.
  • Professional fees directly related to the implementation of technology, equipment, and machinery as well as property acquisition, construction, renovation, and layout.
  • Expenses related to the purchase of voting shares or company assets for entrepreneurial transition (relève entrepreneuriale).
  • Professional fees directly related to business acquisition and management transition.

grant_eligibility_criteria|zone

This grant is available exclusively to companies operating within the MRC des Basques in Quebec, Canada. The eligible locations are specified to focus on fostering economic development within this region.
  • Companies operating within the territory of the MRC des Basques.
  • Businesses with a headquarters located in Quebec.

grant_single_labels|criteria

The evaluation and selection of projects for the Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) are based on detailed investment criteria to ensure alignment with strategic economic and social goals.
  • The economic viability of the funded enterprise, ensuring profitability and repayment capability.
  • The knowledge and experience of the promoters, with emphasis on relevant management and domain-specific expertise.
  • Environmental and societal impact, focusing on sustainable business practices.
  • Openness towards workers, including progressive labor relations and workplace policies.
  • The involvement of other financial partners to ensure diversified investment sources.
  • The project must align with long-term sustainability and self-financing of the funds.

grant_single_labels|register

Here are the steps to submit an application for this grant provided by CLD des Basques:
  • Step 1: Initial Consultation and Project Assessment
  • Contact the CLD des Basques office to discuss your project.
  • Schedule an appointment with a consultant to assess eligibility for the grant.
  • Step 2: Prepare Required Documentation
  • Complete the application form with details of your business project.
  • Prepare a comprehensive business plan including vision, market analysis, and financial forecasts.
  • Compile supporting documents such as proof of registration, financial statements, and any existing funding commitments.
  • Step 3: Application Submission
  • Submit the completed application package to the CLD des Basques office either in person or through their prescribed online submission platform, if available.
  • Ensure the application is submitted before any set deadlines to be considered for the funding cycle.
  • Step 4: Follow-Up and Review
  • After submission, await feedback from the CLD regarding the review process and potential requests for additional information.
  • Respond promptly to any inquiries or additional documentation requests made by the CLD during the assessment phase.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:
  • The Fonds local d’investissement (FLI) and the Fonds local de solidarité (FLS) can collaborate on funding projects, which may sometimes involve an adjusted participation ratio based on investment risk and fund availability.
  • There’s a cap of $100,000 on investments from the FLS in the same company or group of companies, while the FLI can provide a maximum cumulative loan balance of $300,000.
  • An enterprise's equity should be 20% post-investment to ensure project feasibility and promote financial stability.
  • Agricultural credit institutions like BDC and FAC can be involved as private contributors under certain conditions.
  • Certain sectors like real estate management and activities related to gambling, sexual exploitation, and fossil fuels are excluded from funding, except under specific transition circumstances.
  • The interest rate on investments is subject to a calculated risk premium and compliance with set standards for loan guarantees.
  • Both funds, FLI and FLS, require submitting comprehensive financial documents, including a business plan and financial history, alongside specific compliance statements for francization and employment equality if applicable.

Apply to this program