Le Fonds de développement économique LaPrade St-Maurice — Financing
Shawinigan, QC, Canada
Custom financing and support for businesses in St-Maurice
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Le Fonds de développement économique LaPrade St-Maurice
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds LaPrade offers tailored financing for businesses, whether for startup, acquisition, or growth projects, with investment possibilities ranging from $5,000 to $100,000. Eligible activities include the creation or maintenance of sustainable jobs, and projects must focus on non-competitive products or services within the serviced territory.
grant_single_labels|projects
This grant supports various business activities to stimulate economic growth and sustainability. Eligible projects focus on non-competitive product or service ideas within the specified region.
- Business startups and new ventures.
- Business acquisitions for expansion or growth.
- Projects that demonstrate job creation or the maintenance of existing jobs.
- Research and development activities qualifying for tax credits.
- Projects needing temporary (bridge) financing for liquidity improvement.
- Initiatives ineligible for traditional financial institution funding but have potential for profitability.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the business's profile and proposed activities.
- The business must present a good credit history.
- The business must be managed by an efficient and competent team.
- The business must demonstrate relevant knowledge and experience in the operated field.
- The business must contribute to the creation or maintenance of sustainable jobs.
- A business plan demonstrating good potential for profitability must be submitted.
- The business must have approached a financial institution.
- The business must be located within the territory served by the Fonds LaPrade.
grant_eligibility_criteria|who_can_apply
Eligible companies for this grant include those with a good credit history, efficient management teams, relevant domain knowledge and experience, those creating or maintaining sustainable employment, with potential profitability business plans, have engaged financial institutions, and are located within the specified territorial limits of the LaPrade Fund service area.
grant_eligibility_criteria|eligible_expenses
The grant covers specific expenses directly related to the proposed project's realization, including essential setup and operational costs.
- Expenses for buildings and infrastructure development.
- Costs associated with purchasing necessary equipment.
- Inventory acquisition for project initiation.
- Financial projections for the first 12 months, including revenues and expenses.
- Costs for conducting a market study or summarizing initial client engagements.
grant_eligibility_criteria|zone
This grant is available to companies located within the designated areas served by the funding body. The eligible locations are outlined to support economic development within the former federal county of St-Maurice.
- City of Shawinigan
- Notre-Dame-du-Mont-Carmel
- Saint-Étienne-des-Grès
- Saint-Boniface
- Saint-Mathieu-du-Parc
- Saint-Élie-de-Caxton
- Charette
- Saint-Paulin
- Sainte-Angèle-de-Prémont
- Sainte-Ursule
- Saint-Justin
- Saint-Édouard-de-Maskinongé
- Saint-Alexis-des-Monts
grant_single_labels|criteria
The evaluation and selection of projects for the Fonds LaPrade grant require the project to meet certain predefined criteria, giving special attention to the non-competition of the proposed product or service within the geographic area served.
- Focus on a non-competing product or service in the area served by Fonds LaPrade.
- Inclusion of a comprehensive business plan with market study or client contact summary.
- Detailed financial structure including historical financial statements and projected results for 12 months.
- Estimates for all major project-related expenses.
- Timeline for project implementation.
- Identification and contact details of all partners involved in the project.
- Curriculum vitae of all individuals responsible for the project.
grant_single_labels|register
- Step 1: Determine Eligibility
- Ensure your business meets all eligibility criteria, including location requirements and having a viable business plan.
- Step 2: Prepare Business Plan
- Include a market study or client contact summary in your business plan.
- Detail the financial structure, including a starting balance sheet.
- Include historical financial statements and projected financials for 12 months.
- Provide estimates for major project expenses (buildings, equipment, etc.).
- Outline the project timeline and schedule.
- Identify all partners, providing names and contact details.
- Include CVs of all project leaders.
- Step 3: Contact Financial Institutions
- Make arrangements or inquiries with financial institutions as part of your financing plan.
- Step 4: Submit Application
- Send your complete business plan and application to Fonds LaPrade.
- Ensure that you follow any specific submission guidelines provided by the Fonds LaPrade.
- Step 5: Wait for Review
- Understand that your application will be analyzed and reviewed by the board of administrators.
- The board meets once a month to make final decisions based on the investment policy.
- Step 6: Receive Decision
- Await notification from the Fonds LaPrade regarding the decision on your application.
grant_single_labels|otherInfo
Here are additional relevant details for applicants to consider:
- All applications are reviewed by a board of nine volunteers actively involved in regional economic development.
- Decisions on funding are made monthly after analysis by this board.
- Confidentiality and professionalism in handling of application is assured by the organization.
- The office is open Monday to Wednesday, with appointments possible outside regular hours on request.
- The organization offers onsite visits to meet applicants if needed.
- Technical support tailored to business needs is available in addition to funding.
- Bridging loans are available to improve liquidity during temporary financial situations.
- The organization can also provide funding for refundable tax credits, particularly for Scientific Research and Experimental Development (SR&ED).
- Contact details and office hours are provided for further inquiries or appointments.
grant_single_labels|contact
info@fondslaprade.ca
819 537-5107
Apply to this program
Tailored Funding Solutions for Your Business Growth
The Fonds LaPrade offers personalized financing options to support businesses at various stages, from startup to growth and acquisition efforts. Its goal is to not only provide financial aid but also offer technical support tailored to the specific needs of enterprises within its service area.
Unlocking Opportunities with the Fonds LaPrade
The Fonds LaPrade is a versatile investment fund dedicated to fostering economic growth in the former federal county of St-Maurice, Quebec. By offering tailored financial support, the fund plays a pivotal role in aiding businesses aiming for development and expansion. The funding opportunities range between $5,000 and $100,000 in the form of loans, designed to meet the varied needs of businesses seeking to innovate or strengthen their market presence. This comprehensive approach not only includes access to capital but also encompasses technical support to ensure project success, effectively bridging the gap between ambition and execution.
Strategically positioned to support sustainable job creation and retention, the Fonds LaPrade evaluates applicant businesses based on their credit history and management competence. This ensures that only enterprises demonstrating sound understanding and expertise in their respective industries are supported. The evaluation process is meticulous, involving a detailed business plan that outlines market studies, financial structures, and execution strategies. Such stringent standards guarantee that the fund’s resources are allocated to projects with a high potential for profitability and longevity.
A unique aspect of the Fonds LaPrade is its commitment to projects offering non-competitive services or products within the service area, thereby enhancing the economic landscape without compromising existing businesses. The fund operates under the governance of a dedicated board of administration comprised of volunteers with deep ties to the regional economic development community, ensuring decisions are made with a comprehensive understanding of local needs and potential impacts.
The fund’s tailored financing is further complemented by its comprehensive understanding of fiscal incentives like the Scientific Research and Experimental Development (SR&ED) tax credits. Such understanding enhances the accessibility of funding to businesses that might not traditionally engage with research and development incentives. Through careful strategic alignment with these external fiscal measures, the Fonds LaPrade amplifies its impact, optimizing financial accessibility for eligible businesses.
This financial support supports significant transactional phases, whether through bridge financing or permanent credit facilities, facilitating liquidity improvements necessary for operational scaling or strategic acquisitions. Additionally, partnerships with financial institutions attest to the fund's commitment to a collaborative approach in fostering business resilience and growth.
Ultimately, the Fonds LaPrade stands as a vital catalyst in the regional economic landscape, bolstering businesses through a combination of financial resources and strategic support. By nurturing a proactive environment for economic development, the fund contributes significantly to the sustainable prosperity of the region, encouraging diversified economic growth while maintaining a firm footing in local traditions and community values.
For businesses located in the specified areas of the former federal county of St-Maurice, the opportunity provided by the Fonds LaPrade is both pivotal and empowering. By aligning financial support with technical innovation and strategic project management, this fund is not merely a financial lifeline but a transformational partner in fostering enduring business success.
