MRC Rouyn-Noranda — FLI Succession QC Canada

MRC Rouyn-Noranda — FLI Succession

Rouyn-Noranda, QC, Canada
Funding tools for enterprise growth in Rouyn-Noranda
grant_single_labels|summary
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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
  • Other services (except public administration)
  • Public administration
grant_single|grantors
  • MRC 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|projects

The grant focuses on supporting various business initiatives in Rouyn-Noranda through financial tools designed to assist start-ups, expansions, and business successions. The eligible projects for funding embrace entrepreneurship, facilitate business continuity, and enhance community economic development.
  • Start-up projects for enterprises in their commercialization phase operational for less than two years.
  • Improvement and transformation projects for existing businesses aiming at productivity enhancements and digital transformations.
  • Growth and expansion projects for businesses established for at least two years, focusing on scaling operations.
  • Entrepreneurial succession projects seeking significant ownership acquisition of existing businesses to ensure continuity and leadership transition.
  • Structuring projects in key primary, manufacturing, tourism, and tertiary sectors that foster local economic development.

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 targeted at businesses operating within the specified geographical area of Rouyn-Noranda. To align with the funding objectives, companies must be situated in this region to be eligible.
  • Businesses operating within the territory of Rouyn-Noranda.

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

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