DEPS — Local Investment Fund

Who is eligible?

• For-profit businesses legally incorporated under the laws of Quebec or Canada.
• Collective enterprises such as cooperatives and non-profit organizations (OBNL) with commercial activities.
• Businesses operating within the MRC of Pierre-De Saurel with their headquarters in Quebec and registered in the Quebec Enterprise Register (REQ).
• Companies involved in sectors aligned with the priorities of the MRC, such as innovative local and regional development, economic diversification, development of transportation and sustainable projects.
• Entrepreneurs or groups of entrepreneurs aiming to assume significant ownership or leadership of an existing business for succession purposes.

Who is not eligible

• Businesses registered in the Register of Enterprises Not Eligible for Public Contracts (RENA).
• Entities that previously failed to meet obligations related to financial aid from the Ministry or regional county municipality within the last two years.
• State-owned enterprises or those directly or indirectly controlled by a government (municipal, provincial, or federal).
• Companies under the protection of the Companies' Creditors Arrangement Act or the Bankruptcy and Insolvency Act.
• Companies with unethical behavior that could tarnish the image of the government or regional municipality.
• Entities with irresponsible environmental conduct as per applicable laws.
• Companies with a history of non-compliance with labor standards or human rights legislation.
• Enterprises involved in the production or distribution of armaments.
• Involvement in operations related to fossil fuels such as oil and thermal coal, excluding those transitioning to a low-carbon economy.
• Organizations running gambling or betting activities, like casinos or bingo halls.
• Businesses engaged in violent games, combat sports involving living creatures, or racing activities.
• Entities engaged in sexual exploitation such as escort agencies or adult entertainment venues, and the production of pornography.
• Companies in real estate management and development, aside from certain tenant services or improvement projects.
• Businesses involved in the sale and services related to the consumption of tobacco or drugs, with certain exceptions for cannabis and industrial hemp under specific conditions.

Eligible expenses

• Need for additional working capital related to the company's project, determined on the basis of justified and reasonable expenses for a maximum period of two years.
• Capital expenditures strictly and directly related to the realization of the company's project, such as acquisition of technology, land, building, equipment, machinery, and mobile equipment, as well as construction, expansion, renovation, and development of the land and premises.
• Professional fees prior to the realization of the project's activities, such as feasibility analysis, external audit, or impact study.
• Professional fees strictly and directly related to the realization of the company's project, such as the implementation of technology, equipment, and machinery as well as acquisition, construction, renovation, and land and premises development.
• Expenses related to the acquisition of ownership titles of the company concerned (voting shares or units) and assets of the company concerned.
• Professional fees strictly and directly related to the transaction and acquisition of the business as well as the transmission of the company's management.

Eligible geographic areas

• Territory of the MRC de Pierre-De Saurel

• The maximum financial assistance available from the Local Investment Fund (FLI) is $250,000 per enterprise.
• Financial assistance is provided in the forms of loans, guarantees, or bonds, and not as non-repayable contributions.
• The interest rates on loans are determined based on a risk assessment and can vary depending on factors such as the nature of the project and the terms of the loan.
• The financial assistance under the FLI can only cover a portion of the project costs, and additional capital from other sources is strongly encouraged.
• The committee has the flexibility to make exceptions in investment proportions between the FLI and FLS if deemed necessary.
• The financial aid received must be used responsibly; any misuse might result in the termination of assistance and repayment demands.