Rouyn-Noranda — FLI Succession
Rouyn-Noranda, QC, Canada
Funding tools for enterprise growth in Rouyn-Noranda
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
- Other services (except public administration)
- Public administration
grant_single|grantors
- City of Rouyn-Noranda
grant_single|status
grant_card_status|open
grant_single_labels|preview
The grant program offers funding up to $250,000 to support business projects and the creation and retention of sustainable jobs by financing business startups, expansion, improvements, acquisitions, and entrepreneurial succession in Rouyn-Noranda. Eligible activities include investments in primary sectors, key tertiary services, local services, rural, tourism, manufacturing, sustainable development, and the circular economy.
grant_single_labels|terms_and_conditions
This grant offers comprehensive financial support mechanisms tailored to assist in business development, growth, and succession planning. The funding modalities are designed to meet diverse entrepreneurial needs within the Rouyn-Noranda region.
- The grant provides loans up to $250,000 through the FLI-FLS for business startup, improvement, expansion, and succession initiatives.
- Loans require a personal guarantee and are subject to a repayment schedule tailored to the business's financial situation.
- Interest on loans is competitively based, with possible risk premiums and interest rate reductions for sustainable business performance.
- A 20% capital contribution is required for startup projects, whereas existing businesses must maintain 20% equity post-project implementation.
- To support entrepreneurial succession, the grant includes provision for up to $250,000 specifically for business acquisition and transition related costs.
- FLI Relève offers a $25,000 interest-free loan when combined with an equivalent or greater amount from the FLI-FLS Relève Entrepreneurial.
- The Fonds projets structurants (FPS) adds another layer with a $25,000 loan, potentially convertible to a non-repayable contribution under certain conditions.
- Applicable loans under FPS come with a five-year amortization period and a possible three-month principal payment moratorium.
grant_single_labels|projects
This grant offers financial tools to assist with business creation, growth, and entrepreneurial succession within Rouyn-Noranda. It funds various projects that support start-up initiatives, business improvements, and acquisitions.
- Launching new businesses within the first two years of operation.
- Enhancing the productivity and digital transformation of existing businesses.
- Supporting expansion projects for businesses with a history of at least two years.
- Financing the acquisition and succession planning for existing businesses.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the business's location, activity sector, and project stage.
- The business must operate within the Rouyn-Noranda territory and have its headquarters in Quebec.
- The sectors of activity must align with the priorities set by the City of Rouyn-Noranda, such as primary, motorized tertiary, local services, rural, tourism, manufacturing, sustainable development, and circular economy sectors.
- For startups, the business must have been active for less than two years and be in the commercialization phase.
- For improvement and transformation projects, the business must have been active for at least one year.
- For growth and expansion projects, the business must have been active for at least two years.
grant_eligibility_criteria|who_can_apply
This grant is designed for both for-profit enterprises and collective enterprises like cooperatives and non-profits operating within the Rouyn-Noranda territory and headquartered in Quebec. Applicants must be involved in sectors prioritized by the local economic development plan, including the primary, key tertiary, local services, rural, tourism, manufacturing, sustainable development, and circular economy sectors. Projects can relate to business startup, improvement and transformation, growth and expansion, and entrepreneurial succession. Enterprises in developmental stages with less than two years of operation can apply for startup funding if they are in the commercialization phase.
grant_eligibility_criteria|eligible_expenses
The grant covers expenses that are strictly and directly related to the success of the business project.
- Additional working capital needs required for the project's implementation within a maximum period of two years.
- Capital expenditures linked to the project's realization, such as acquiring technologies, land, buildings, equipment, machinery, and vehicles, as well as construction, expansion, renovation, and development of land and premises.
- Professional fees related to preliminary project activities, like feasibility analysis, external audit, or impact study.
- Professional fees directly linked to the project's realization, including the implementation of technologies, equipment, or machinery, as well as acquisition, construction, renovation, and development of land and premises.
- Acquisition costs of ownership titles (voting shares or parts) and assets of the targeted company.
- Professional fees directly related to the transaction and acquisition of the company and the transmission of business management.
grant_eligibility_criteria|zone
This grant is available for companies located in the specific geographical area as determined by the funding body, which aligns with its economic development strategy.
- Companies operating within the territory of Rouyn-Noranda.
- Businesses with their headquarters located in Quebec.
grant_single_labels|criteria
The evaluation and selection of projects for this grant are focused on ensuring economic viability, promoter experience, and sustainable practices among other factors.
- Economic viability of the financed business: The business plan must demonstrate profitability, repayment capacity, and a promising outlook.
- Knowledge and experience of the promoters: Promoters must show relevant domain knowledge and management skills.
- Environmental and societal impact: The business should focus on sustainable business practices.
- Participation of other financial partners: Contribution from other sources of capital, including at least one financial institution and the promoters' equity, is highly desirable.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Gather Required Documents
- Prepare a completed, dated, and signed financial assistance application form.
- Develop a business plan if the project involves a startup.
- Compile financial assembly documents for the project.
- Include financial statements and financial forecasts.
- Attach any other document that may be required by the CLD Rouyn-Noranda.
- Step 2: Consultation with a CLD Advisor
- Contact a CLD Rouyn-Noranda advisor by phone at 819 762-0142.
- Email inquiries to info@cldrn.ca.
- Schedule a meeting online or over the phone.
- Step 3: Submit the Application
- Follow the instructions provided by the CLD advisor for submitting the application.
- Ensure all required documents are submitted as per the advisor's instructions.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The financing is generally aimed to provide or ensure the necessary working capital for the success of the business project.
- The FLI-FLS funds are provided in the form of a term loan subject to personal surety, with repayment schedules adapted to the realities of the business.
- Interest rate reductions are possible based on the company's performance in sustainability, ranging from 0 to 1.5% of the interest rate.
- A moratorium on capital repayment, ranging from 12 to 36 months, is possible for loans provided under the FLI-FLS.
- For the FLI-FLS Relève Entrepreneuriale, acquiring at least 25% stake in an existing business is necessary to be considered a transfer of entrepreneurship.
grant_single_labels|contact
info@cldrn.ca
819
Apply to this program
Empower Your Business Ventures with CLD RN Financing Tools
Discovering the right financial backing can be pivotal for businesses aiming to start, expand, or undergo ownership transitions. LES OUTILS DE FINANCEMENT DU CLD RN offers a range of investment funds and financial supports designed to fortify businesses operating in Rouyn-Noranda with sustainable solutions and strategic growth opportunities.
In-depth Exploration of CLD RN's Financing Tools Impact
Located in the dynamic region of Rouyn-Noranda, LES OUTILS DE FINANCEMENT DU CLD RN is committed to fostering a thriving economic landscape by providing comprehensive financial tools such as the Fonds locaux d’investissement (FLI), Fonds locaux de solidarité (FLS), and Fonds projets structurants (FPS). These funds are focused on supporting businesses across various stages from startup to expansion, improvement, and strategic ownership transitions, ensuring that local enterprises are equipped with necessary financial means to thrive.
The FLI-FLS programs are tailored to encourage and enable businesses to secure essential working capital and strategic investments. With accessible funding reaching up to $250,000, businesses can leverage this support to streamline processes, adopt sustainable practices, and foster technological advancements. By prioritizing projects that align with Rouyn-Noranda’s economic development plan, these funds are channeling resources into sectors such as primary, tertiary engine services, rural, tourism, manufacturing, and sustainable development.
For new enterprises, particularly those under two years of operation, the FLI supports essential startup phases by covering necessary financial outlay involved in launching commercial operations. Existing businesses, on the other hand, can tap into these funds to enhance productivity and implement digital transformations, crucial for maintaining competitiveness in today’s rapidly evolving market.
Moreover, the tools offered by CLD RN are not just limited to financial aid. They encompass strategic support that includes feasibility studies, professional advisory services, and a potential reduction in interest rates based on performance in sustainable development initiatives. This encourages businesses to implement eco-friendly practices, reflecting a commitment to sustainable entrepreneurship that benefits both the economy and the community.
The Fonds projets structurants complements these efforts by providing a $25,000 loan that can partly convert to non-repayable contributions, offering entrepreneurs an even broader scope of financial support. This unique feature enriches Rouyn-Noranda’s entrepreneurial ecosystem, making it an attractive hub for business innovation and growth.
In addition to facilitating growth and stability, these funds play a crucial role in succession planning. The financing tools devised for entrepreneurial succession offer up to $250,000 to aid in seamless ownership transitions. This ensures not only the preservation of businesses within the community but also encourages new leadership to bring fresh perspectives and ideas to the fore.
The strategic design of these funds, along with a robust network of advisors at CLD RN, underscores their importance as more than just financial contributors. They are partners in development, vested in the long-term success and innovation of Rouyn-Noranda’s business landscape. Entrepreneurs and business owners are encouraged to leverage these opportunities, not just as a means of financial help, but to propel their enterprises towards groundbreaking accomplishments and sustainable growth.
Ultimately, LES OUTILS DE FINANCEMENT DU CLD RN is not just a financial pillar but a cornerstone of business innovation and sustainability in Rouyn-Noranda. By supporting diverse sectors and fostering a culture of sustainable practices and strategic growth, CLD RN ensures that the region continues to develop a strong, resilient, and future-ready economic foundation.