MRC Abitibi-Ouest — Local Investment Funds

The Local Investment Funds offer financial support through reimbursable aid to promote economic development and employment in the MRC Abitibi-Ouest region. The funding modalities are designed to provide flexibility and encouragement for businesses in need of financial support.

• Maximum financial aid of $250,000.
• Reimbursable financial aid with a potential grace period of up to 12 months for capital repayment.
• Monthly interest payments are required during the grace period.
• Early repayment of the loan is allowed at any time, without notice or penalty.

Eligibility for this grant is determined by specific criteria related to the legal status, location, and activities of the applicant.

• The applicant must be a for-profit enterprise legally constituted under the laws of the Government of Quebec or Canada.
• The business must operate within the territory of the MRC d’Abitibi-Ouest.
• The head office of the business must be located in Quebec.
• The business must be registered with the Registre des entreprises du Québec (REQ).
• Collective enterprises, such as cooperatives and non-profit organizations with market activities as defined by the Social Economy Act, are also eligible.

Who is eligible?

The "Fonds locaux" are accessible to for-profit businesses legally constituted under the laws of the Government of Quebec or Canada, conducting business in the MRC d'Abitibi-Ouest area, and having their head office in Quebec, provided they are registered with the Quebec Enterprise Register (REQ). Additionally, collective enterprises such as cooperatives and non-profit organizations (NPOs) with commercial activities, as defined under the Law on Social Economy (RLRQ, chapter E 1.1.1), are also eligible, though they must meet conditions specified in annex "A" of the investment policy.

Eligible geographic areas

This grant is focused on supporting businesses located within a specific regional jurisdiction. Eligible companies must be operating on the territory specified by the funding organization.

• Companies operating on the territory of the MRC of Abitibi-Ouest.
• Businesses with headquarters in Quebec.

Here are additional relevant details for this grant:

• The financial assistance provided is a repayable loan.
• The possibility of a capital repayment moratorium is offered, although interest remains payable monthly.
• It is possible to repay the loan fully or partially at any time without penalty or prior notice.
• A minimum equity requirement of 15% is stipulated for both new projects and existing businesses, with a typical requirement of 20%.
• A dedicated application form is required, which should be completed with assistance from their development advisors.
• Development advisors are available to assist entrepreneurs throughout their project stages.
• Contact information for development advisors is provided for those seeking further information about the program.