Rouyn-Noranda — FLI-FLS – Entrepreneurial Succession
- Open continuously
Overview
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.
At a glance
Funding available
- Increase performance through digital transformation
- Reduce environmental footprint
- Renovate or expand facilities
- Maximum amount : 250,000 $
- Up to 5% of project cost
- Open continuously
Eligible candidates
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Arts, entertainment and recreation
- Accommodation and food services
- Rouyn-Noranda
- Abitibi-Témiscamingue
- Quebec
- For-profit business
- Social economy enterprise
- Non-financial cooperative
- All revenue ranges
- All organization sizes
- Rural or Northern Residents
- Startups
Next steps
Activities funded
The Rouyn-Noranda FLI-FLS grant supports entrepreneurial succession and business projects in specific sectors to promote sustainable growth and economic development. Eligible activities focus on various aspects of business operations, from starting new ventures to improving and expanding existing enterprises.
- Starting up businesses in alignment with Rouyn-Noranda's economic priorities.
- Improving and transforming existing business operations.
- Expanding current business ventures for increased reach and productivity.
- Acquiring existing businesses as part of entrepreneurial succession.
- Developing projects within primary, tertiary, local services, rural, tourism, manufacturing, and sustainable sectors.
- Utilizing funds for working capital, acquisition of technology, equipment, and professional services.
Eligibility
Who is eligible?
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.
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.
Eligible geographic areas
The FLI-FLS grant is specifically available to companies whose operations are located within the territory of Rouyn-Noranda. This geographical focus aligns with the development goals of the Rouyn-Noranda local economic ecosystem.
- Companies operating within the territory of Rouyn-Noranda.
Additional information
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.
Contacts
Frequently Asked Questions about the Rouyn-Noranda — FLI-FLS – Entrepreneurial Succession Program
What is the Rouyn-Noranda — FLI-FLS – Entrepreneurial Succession?
How much funding can be received?
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What expenses are eligible under Rouyn-Noranda — FLI-FLS – Entrepreneurial Succession?
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Where is the Rouyn-Noranda — FLI-FLS – Entrepreneurial Succession available?
Is the Rouyn-Noranda — FLI-FLS – Entrepreneurial Succession a grant, loan, or tax credit?
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