Le Fonds de développement économique LaPrade St-Maurice — Financing
grant_single|update January 24, 2025
Shawinigan, QC
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
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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|terms_and_conditions
This financing program offers tailored financing solutions aiming to support business start-ups, acquisitions, or growth projects, accompanied by technical support to suit diverse business needs.
- Loans available range from CAD 5,000 to CAD 100,000.
- Options for bridge financing to improve liquidity for scenarios such as grants, tax credits, and significant contracts.
- Financing options specifically designed for businesses eligible for refundable tax credits for Scientific Research and Experimental Development (SR&ED).
grant_single_labels|projects
This grant supports specific financial needs through tailored investments, mainly focused on business expansions and sustaining profitability within the service area. The eligible projects are centered on improving liquidity and financing innovative developmental activities.
- Business startups that allow the creation or maintenance of sustainable jobs.
- Acquisition projects that demonstrate potential for profitability.
- Expansion projects with a well-defined business plan and market study.
- Projects eligible for refundable tax credits related to scientific research and experimental development (SR&ED).
- Temporary financing needs for businesses awaiting grants or significant contract payments.
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
The grant is available to enterprises situated within the specific territories served by the Fonds LaPrade St-Maurice. This includes areas both in and around the city of Shawinigan.
- 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|apply
- 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