How much funding can be received?

The LES OUTILS DE FINANCEMENT DU CLD RN program offers a maximum funding amount of up to $250,000, aimed at supporting the initiation, expansion, improvement, transformation, and successful succession of businesses within Rouyn-Noranda. Eligible activities span across the primary, dynamic tertiary, local services, rural, tourism, manufacturing, and sustainable development sectors on the condition that they are aligned with Rouyn-Noranda's economic development priorities.

grant_single_labels|projects

The grant supports projects aimed at fostering business development in various sectors within Rouyn-Noranda. The eligible projects focus on entrepreneurship, business improvement, growth, and succession planning.

Startup projects for businesses less than two years old in the commercialization phase.
Improvement and transformation projects for businesses at least one year old, focusing on productivity enhancement and digital transformation.
Growth and expansion projects for businesses at least two years old.
Entrepreneurial succession projects to acquire significant shares or assets in established businesses.
Projects supported by professional fees directly related to project realization, such as technological implementation or acquisition-related transactions.

grant_single_labels|admissibility

Eligibility for this grant is determined by specific requirements related to the applicant's profile and proposed activities.

The business must be located in Rouyn-Noranda and have its head office in Quebec.
The business must be a for-profit enterprise or a collective enterprise such as a cooperative or NPO.
Businesses must operate within priority sectors as defined by Rouyn-Noranda's economic development plan: primary sectors, leading tertiary sectors, local services, rural sectors, tourism, manufacturing, and sustainable development/circular economy sectors.
The company should demonstrate economic viability, including profitability, repayment capability, and good prospects.
The promoters must have relevant knowledge and experience in the targeted field, as well as management skills.
The business must adopt sustainable practices to generate positive environmental and societal impacts.
Participation from other financial partners, including at least one financial institution and contributions from promoters, is highly desirable.
For startups, the business must be in operation for less than two years and in the commercialization phase.
For improvement, transformation, or expansion projects, the business must be operational for at least one or two years, respectively.
For transfer projects, entrepreneurs must aim to acquire at least 25% of the company or the fair value of its assets.
Applicants must be at least 18 years old and work full-time in the business.
The applicant must provide a financial package including a minimum equity contribution.
Funding should be essential for the success of the project.

grant_eligibility_criteria|who_can_apply

The Fonds locaux d’investissement (FLI) et de solidarité (FLS) from CLD Rouyn-Noranda are available to for-profit businesses and collective enterprises (cooperatives and non-profits) operating on the territory of Rouyn-Noranda, with headquarters in Quebec. Eligible sectors include primary, tertiary motor, proximity services, rural, tourism, manufacturing, and sustainable development and circular economy sectors. New businesses must have been in operation for less than two years and be in the commercialization phase. Existing businesses seeking improvement and transformation assistance must have been operating for at least one year. Businesses applying for growth and expansion funds must have been operational for at least two years.

grant_eligibility_criteria|eligible_expenses

The grant covers specific expenses directly related to the project's execution and operational needs.

Supplementary working capital necessary for the project realization for a maximum of two years, based on justified and reasonable expenses.
Capital expenditures directly and strictly related to the project, such as acquisition of technologies, land, buildings, equipment, machinery, and rolling stock, and the construction, expansion, renovation, and development of land and premises.
Professional fees prior to the project's realization, including feasibility analysis, external audit, or impact study.
Professional fees strictly and directly related to the project's realization, such as the implementation of technologies, equipment, or machinery, acquisition, construction, renovation, and development of land and premises.
Acquisition of property titles (voting shares or units) and assets of the targeted company.
Professional fees directly related to the transaction and acquisition of the company and the transition of its management.

grant_eligibility_criteria|zone

This grant is available to companies located in a specific geographical area as determined by the funding organization. The eligible locations are designed to align with regional economic development priorities.

Companies operating on the territory of Rouyn-Noranda.
Enterprises with their head office located in Québec.

grant_single_labels|criteria

The evaluation and selection of projects for the FLI-FLS and related funding mechanisms are based on specific investment criteria to ensure alignment with the fund's objectives.

Viability of the enterprise: Project must demonstrate potential for profitability and repayment capacity.
Knowledge and experience: Proponents must show relevant experience and management skills in the target domain.
Environmental and societal impacts: The business should promote sustainable practices.
Involvement of financial partners: Additional capital from other sources, including a financial institution's involvement, is encouraged.

grant_single_labels|register

Here are the steps to submit an application for this grant:

Step 1: Preliminary Consultation
Contact one of the CLD Rouyn-Noranda advisors at 819 762-0142 or via email at info@cldrn.ca for initial consultation.
Schedule an appointment, which can also be done directly online.
Step 2: Documentation Preparation
Complete the financial assistance application form, ensuring it is dated and signed.
Prepare a business plan if the project is a startup.
Prepare a financial breakdown of the project.
Gather financial statements and financial forecasts.
Collect any other documents required by the CLD Rouyn-Noranda.
Step 3: Application Submission
Submit all prepared documents and forms to the CLD Rouyn-Noranda.
Ensure all contact details are correct for follow-up communication.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:

The FLI-FLS offers loans with repayment schedules tailored to the business's realities, including potential moratoriums on capital repayment ranging from 12 to 36 months.
The interest rate is competitive, combining a base rate with a risk premium, and could be reduced by up to 1.5% if the business demonstrates sustainable development performance.
A minimum equity requirement of 20% for existing businesses post-project and a 20% equity contribution for startups are mandated.
A fee of 1% for file analysis is deducted at the source when utilising the Fonds projets structurants (FPS).
The FLI Relève and FPS offer flexible terms, including interest-free loan options and part of the FPS loan potentially convertible into a non-repayable grant.
Personal guarantees might be required for loans.
The loan review process is managed entirely by the CLD Rouyn-Noranda.

grant_single_labels|contact

info@cldrn.ca

819

Apply to this program

Empowering Entrepreneurial Growth in Rouyn-Noranda

The CLD Rouyn-Noranda offers the Fonds locaux d’investissement (FLI) et de solidarité (FLS) to support local businesses with financing options aimed at enhancing business growth and sustainability. These funds are designed to promote entrepreneurship by facilitating startup, expansion, transformation, and succession planning within the region.

Exploring the Comprehensive Financial Support Offered by FLI and FLS

The Fonds locaux d’investissement (FLI) and Fonds locaux de solidarité (FLS) provided by CLD Rouyn-Noranda are vital financial instruments intended to boost the economic landscape of the Rouyn-Noranda region. They provide essential capital to businesses with promising projects, encouraging a robust entrepreneurial spirit and sustainable job creation. Eligible businesses may receive up to $250,000, which can be utilized for various developmental stages, including startup, expansion, or digital transformation initiatives.

This financial support is aimed at enhancing the operational capabilities of businesses within specified sectors deemed as priorities by the city’s economic development plan—ranging from primary, tertiary, to sustainable development sectors. By prioritizing these areas, the program ensures alignment with the city’s broader economic goals and the nurturing of sectors that can deliver lasting socio-economic impacts.

Eligible expenses under the FLI-FLS initiatives include capital acquisitions, technological advancements, and professional services integral to the implementation and success of business projects. By assisting with these crucial expenditures, the funds aim to alleviate financial burdens, enabling businesses to focus on innovation, market expansion, and efficiency improvements.

Moreover, CLD Rouyn-Noranda emphasizes investing in viable projects led by knowledgeable promoters with industry-relevant experience, thereby increasing the chances of success. This focus not only provides financial backing but also supports the strategic involvement of other financial partners, creating a multifaceted approach to business growth and stability.

The program’s flexibility is underscored by its competitive interest rates, with potential reductions linked to the sustainability performance of the business. Such incentives encourage recipients to integrate sustainable practices, thus reinforcing their commitments to environmentally-conscious operations.

Additionally, specific mechanisms like the Fonds projets structurants (FPS) complement the FLI initiatives by offering further financial support for strategic projects that align with economic objectives. This includes provisions for partial loan forgiveness, contingent upon compliance with predefined criteria, offering businesses the chance to improve their financial standings post-investment.

The plethora of services and support structures offered under the FLI-FLS and its associated funds positions CLD Rouyn-Noranda as a pivotal contributor to the economic vitality of the region. Projects funded through these programs not only reflect immediate entrepreneurial pursuits but also signify long-term commitments to developing a diversified and resilient local economy. By supporting a wide array of industries and business models, these funds contribute to a sustainable growth trajectory, fostering innovation and economic well-being across the Rouyn-Noranda community.