How much funding can be received?

The Common Investment Policy of the Local Investment Fund of the MRC de Charlevoix-Est aims to financially support new and existing enterprises to foster job creation in the region, offering a maximum investment of $125,000 from the FLI. Eligible activities include business startups, equipment purchases, expansion projects, and business acquisitions, with a focus on economic sustainability and job creation.

grant_single_labels|terms_and_conditions

The Local Investment Fund (FLI) and Local Solidarity Fund (FLS) from MRC Charlevoix-Est offer structured financing modalities aimed at supporting diverse economic projects while ensuring financial sustainability and leveraging additional funding partners.

Investments are typically provided in the form of term loans, with or without collateral, often accompanied by tailored repayment schedules.
Maximum investment amounts are set at $125,000 for the FLI per beneficiary within twelve months, and $100,000 for the FLS per enterprise or associated group.
Financial support includes both tangible asset purchases such as land, buildings, and equipment, and intangible assets like technology acquisitions, provided the costs pertain strictly to eligible projects.
Interest rates on loans are determined based on risk assessment and may include a risk premium and amortization premium, adjustable for loan guarantees.
A funding requirement includes a minimum equity position of 20% for new projects and existing enterprises after project funding, with flexibility for specific cases like business succession.
Provision exists for a potential moratorium on principal repayment for up to 12 or, in certain cases, 24 months, to facilitate cash flow management.
Application of a 250 CAD fee for file opening and an additional follow-up fee amounting to 1.5% of the loan amount.
Financing may include temporary loans with a maximum duration of 18 months aimed at liquidity gaps, supported by confirmed future revenue.

grant_single_labels|projects

This grant provides financial support for business projects that aim to strengthen the local economy and create jobs in the Charlevoix-Est region. The eligible projects include various business development activities designed to promote entrepreneurship and economic growth.

Startup projects for new businesses.
Purchase or renewal of equipment for existing businesses.
Acquisition or takeover of an existing business.
Bridge financing for contracts awaiting confirmed revenue.
Expansion initiatives for increasing business capacity or product range.

grant_single_labels|admissibility

Eligibility for this grant requires businesses to meet specific criteria related to their legal status and operational framework.

The enterprise must be legally constituted and operate within the territory of the MRC of Charlevoix-Est with its head office in Quebec.
It must be registered with the Quebec Enterprise Register (REQ).
All legal forms of enterprises are eligible.
Only businesses that are not pre-startup projects are eligible; they must be at the commercialization stage.
For the ownership transition segment, individuals or groups acquiring at least 25% of a business's value and aiming for succession are eligible.
Social economy enterprises are eligible if they meet specified conditions, including democratic management and operation in a market economy context.
Businesses in the cannabis and industrial hemp industry are eligible, but only for specific legal and pharmaceutical-related operations.

grant_eligibility_criteria|who_can_apply

Eligible applicants for FLI Relève and other funds within the MRC de Charlevoix-Est grant must meet specified criteria related to legal establishment and operational scope.

Any legally constituted enterprise operating within the MRC de Charlevoix-Est and registered with the Quebec Enterprise Registrar, with a head office in Quebec.
For FLI Relève: entrepreneurs acquiring at least 25% of a company’s capital shares or equity and who intend to inject new leadership for the continuation of the business.
Enterprises that contribute to job creation and economic development in the area.
Individuals or groups wishing to take over an existing business.
Organizations operating in sectors aligned with MRC's action plan and priorities.
Enterprises demonstrating viable long-term strategic plans for growth, expansion, or modernization.

grant_eligibility_criteria|who_cannot_apply

The grant explicitly excludes certain types of companies and industries based on their activities, ethical considerations, and compliance with legal standards. These restrictions are in place to uphold community well-being and ethical investment practices.

Companies with more than 10% of sales derived from armaments production or sales.
Businesses involved in the tobacco industry.
Enterprises with irresponsible environmental practices that violate applicable legislation.
Companies with a history of non-compliance with labor standards or human rights legislation.
Interventions in recreational cannabis products.
Projects in the cannabis industry for non-Health Canada approved medical products or additional cannabis-derived products.
Any company whose products or services contradict peace, well-being, freedom, or public health.
Organizations that are not legally constituted or do not have their headquarters in the specified region.

grant_eligibility_criteria|eligible_expenses

The grant covers specific expenses related to capital expenditures, technological acquisitions, and operational funding for the first year.

Capital expenditures such as land, building, equipment, machinery, rolling stock, and incorporation fees, excluding goodwill expenses.
Acquisition of technologies, software or package software, patents, and similar expenses, excluding research and development activities.
Working capital needs strictly related to the company’s operations calculated for the first year of operation or the first year following an expansion project.

grant_eligibility_criteria|zone

This grant is intended for companies that are conducting their business activities within the specific geographical area of MRC de Charlevoix-Est. Ensuring that the company is located within the regional county municipality of Charlevoix-Est is crucial for eligibility.

Companies based in the territory of the Municipalité Régionale de Comté (MRC) de Charlevoix-Est.

grant_single_labels|criteria

The evaluation and selection of projects for this grant are based on specific criteria to ensure the alignment with the economic development and employment creation objectives of the Fonds locaux of the MRC de Charlevoix-Est.

Viability of the enterprise: The economic permanence of the project and its ability to generate future profits and repay loans.
Economic benefits in terms of job creation: Projects should demonstrate their ability to create and sustain employment within the region.
Knowledge and experience of the promoters: Promoters must show relevant expertise and managerial skills. Weaknesses should be mitigated through internal and external resources.
Employer-worker relationships: Positive rapport and sound labour relations are regarded in evaluating enterprises.
Reliance on subcontracting and privatization: The project should not aim solely to shift economic activities or jobs between entities.
Involvement of other financial partners: Strongly encouraged is the participation of other financial institutions and promoters' own financial contributions.
Sustainability of the funds: The project's impact on the fund's portfolio should facilitate balance and fund longevity.

grant_single_labels|register

Step 1: Preliminary Assessment
Identify if your project aligns with the mission and requirements outlined in the policy, such as project type and sector.
Ensure your business is legally constituted, has its headquarters in Quebec, and is registered with the Quebec Enterprise Register (REQ).
Step 2: Gather Required Documentation
Prepare a comprehensive business plan demonstrating economic viability and job creation potential.
Compile financial documents, including past financial statements and future projections.
Include documentation of other funding sources and support letters if applicable.
Step 3: Submit Application to MRC
Contact the economic development service of the MRC of Charlevoix-Est to initiate the application process.
Complete any forms provided and submit all required documentation.
Pay the non-refundable application fee of $250.
Step 4: Follow-up and Review
Await feedback from the investment committee regarding your application.
Respond promptly to any requests for additional information or clarification.
Step 5: Agreement and Funding
If approved, enter into a contract with the MRC outlining financial conditions and obligations.
Ensure compliance with all terms and conditions to receive disbursed funds.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:

The MRC, through its Mission développement Charlevoix (MDC), offers first-line technical services such as advisory services, consultation, strategic orientation, and professional aid for business plan development.
There is an emphasis on supporting the local entrepreneurial spirit by encouraging viable business creation and growth.
All projects are subject to an evaluation to determine the type and level of financial intervention possible.
The MRC respects a partnership agreement with Fonds locaux de solidarité FTQ, s.e.c., influencing how investments are made jointly between the funds.
The local investment funds act as a financial lever to secure other funding sources, like conventional loans or other capital infusions.
There are provisions for exemptions if investment criteria cannot be met, provided there is a justified agreement between stakeholders.
Candidates must adhere to several compliance and reporting requirements post-funding to maintain transparency and accountability.
Specific conditions apply for projects in the cannabis and hemp industry, permissible only under certain circumstances.
The policy undergoes annual reviews to incorporate necessary updates or changes in agreement with the Fonds locaux de solidarité FTQ, s.e.c.