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MRC Abitibi-Ouest — Local Investment Funds
QC, Canada
Investment fund for economic impact businesses in Abitibi-Ouest
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateJanuary 1, 2023
- grant_single|closingDateDecember 31, 2023
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- MRC Abitibi-Ouest
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds locaux d’investissement (FLI) and Fonds local de solidarité (FLS) provide up to $250,000 in repayable financial assistance to businesses with an economic impact in Quebec, aiming to support their development and job creation or preservation in the MRC of Abitibi-Ouest. Eligible activities include projects by for-profit businesses and collective enterprises with commercial activities operating and headquartered in Quebec.
grant_single_labels|terms_and_conditions
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.
grant_single_labels|projects
This grant focuses on boosting the economic impact of businesses operating within the MRC d’Abitibi-Ouest. Eligible projects are those that aim to develop the enterprise and contribute to job creation or retention in the region.
- Projects that enhance the growth and expansion of Quebec-based businesses.
- Initiatives that help preserve existing jobs within the company.
- Activities aimed at increasing the current operational capabilities of local businesses.
grant_single_labels|admissibility
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.
grant_eligibility_criteria|who_can_apply
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.
grant_eligibility_criteria|zone
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.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Consult with a Development Advisor
- Contact a development advisor for guidance on the application process and to discuss your project's eligibility.
- Request assistance with completing the necessary forms and understanding the requirements.
- Step 2: Complete the Application Form
- Fill out the "Formulaire Demande d'aide financière Entreprise" with accurate and comprehensive details about your project.
- Ensure all sectors of the form are completed as instructed by your advisor.
- Step 3: Gather Supporting Documents
- Compile any necessary documents that support your application, such as business plans, financial statements, and proof of registration at Quebec's Enterprise Register (REQ).
- Step 4: Submit the Application
- Submit the completed application form and supporting documents to the appropriate department or advisor as directed.
- Ensure submission before any relevant deadlines.
- Step 5: Follow Up
- Confirm receipt of your application with the fund provider.
- Await further instructions or feedback regarding the status of your application.
grant_single_labels|otherInfo
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.
