Rouyn-Noranda — FLI-FLS – Entrepreneurial Succession QC Canada

Rouyn-Noranda — FLI-FLS – Entrepreneurial Succession

Rouyn-Noranda, QC, Canada
FLI-FLS funds projects and entrepreneurial succession in Rouyn-Noranda
grant_single_labels|summary
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grant_single_labels|terms_and_conditions
grant_single_labels|projects
grant_single_labels|admissibility
grant_single_labels|criteria
grant_single_labels|register
grant_single_labels|otherInfo
grant_single_labels|contact

grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|maxCount
  • grant_single|projectCostPercent
grant_single|deadlines
  • grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
  • Agriculture, forestry, fishing and hunting
  • Manufacturing
  • Arts, entertainment and recreation
  • Accommodation and food services
grant_single|grantors
  • City of Rouyn-Noranda
grant_single|status
grant_card_status|open

grant_single_labels|preview

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|terms_and_conditions

This grant provides structured financial support with specific modalities to aid the entrepreneurship succession in Rouyn-Noranda. The modalities focus on ensuring the financial viability and sustainability of business projects.
  • Funding is provided through term loans, which require a personal guarantee and feature a repayment schedule tailored to the business realities.
  • Moratoriums on capital repayment ranging from 12 to 36 months are available.
  • Interest rates are competitive, based on a base rate plus a risk premium, with the possibility of interest rate reductions between 0 to 1.5% for performance in sustainable development.
  • No investments are made in the form of repayable or non-repayable contributions considered as grants.
  • For start-up projects, a capital outlay of 20% of the total project cost is required.
  • For existing businesses, post-project net equity must reach 20%.
  • Applicants must secure financial participation from other partners, including a minimum involvement of a financial institution and promoter contributions.

grant_single_labels|projects

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.

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

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.

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