Rouyn-Noranda — Local Investment (FLI) and Solidarity (FLS) Funds

Eligibility for the Fonds locaux d’investissement (FLI) et de solidarité (FLS) is determined by specific requirements related to the type of projects and sectors the applicant operates within.

• The project must involve one of the following activities: startup, expansion, improvement and transformation of a business, acquisition of a business, or entrepreneurial succession (business transfer).
• The funding is available for cash flow related to the project, capital expenditures (such as equipment and buildings), and professional fees.
• Applicants must provide a minimum of 20% of the total project cost as a down payment.
• Eligible sectors include the primary sector, the tertiary motor sector, local services, rural sector, tourism sector, manufacturing sector, and sectors involved in sustainable development and circular economy.

Who is eligible?

Eligible applicants for the Fonds locaux d’investissement (FLI) et de solidarité (FLS) include businesses involved in starting up, expanding, improving and transforming existing enterprises, acquiring new businesses, and entrepreneurial succession (business transfer).

Eligible expenses

The grant funds various expenses directly related to business project realization and development.

• Working capital related to the project.
• Capital expenditures, including equipment and buildings.
• Professional fees.

Eligible geographic areas

This grant is available to companies specifically within the jurisdiction of the CLD Rouyn-Noranda, indicating a focus on regional development within that area.

• Businesses operating within the region of Rouyn-Noranda.

Here are additional relevant details for this grant:

• Financing is offered in the form of a term loan subject to a personal guarantee.
• Flexible repayment schedules are available that are adapted to the business's realities.
• Capital repayment vacations can range from 12 to 36 months, depending on the case.
• A 20% investment from the total project cost is required from the applicants.
• The interest rate is competitive, beginning with a base rate plus a risk premium, with possible interest rate reductions for sustainable development performance.
• The interest rate reduction for sustainable development performance can range between 0 and 1.5%.
• All applications are managed by the CLD Rouyn-Noranda, which also provides counseling support throughout the application process.
• An informative newsletter is available for ongoing updates and information on economic development and entrepreneurship in Rouyn-Noranda.