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ID Gatineau — Local Fund
Gatineau, QC
Financial aid for business development and expansion in Gatineau
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- ID Gatineau
grant_single|status
grant_card_status|open
grant_single_labels|preview
The ID Gatineau — Local Fund offers a maximum funding of $300,000, aimed at supporting the start-up, expansion, and entrepreneurial succession of businesses. Eligible activities include commercial projects, business improvement and transformation, as well as entrepreneurial succession and acquisition.
grant_single_labels|terms_and_conditions
- The maximum amount of investment through the FLS for a single enterprise or company group is capped at $100,000.
- Investments by the FLI cannot exceed 50% of eligible project expenses, and a maximum of $150,000 in any 12-month period for the same beneficiary. The cumulative amount that remains refundable cannot exceed $300,000.
- For social economy enterprises, the FLI can cover up to 80% of eligible project expenses.
- Investments under the FLI must not result in more than 50% of the total project cost being covered by combined government financial assistance, which includes direct or indirect aid from Quebec and Canadian government entities and tax credits. For social economy enterprises, this can be up to 80%.
- Investments are offered in the form of term loans, with or without security or personal guarantees, typically repayable over seven years, with a possibility for a ten-year extension for certain situations.
- Interest rates are determined based on the risk assessment of the project, with annual evaluations and potential for interim adjustments.
- Startup projects require a minimum promoter equity of 20%, which can be reduced to 15% under certain conditions, while existing enterprises must maintain a 20% equity post-project.
- A repayment moratorium on principal may be granted for up to 12 months, with interest payment resuming after the period, subject to extensions for certain project types.
- Though typically no project guarantees are required, the CIC may impose security interests based on the assessed risk.
- Enterprises may prepay their loans in full or in part at any time, subject to contractual conditions.
- Recovery actions will be pursued in case of borrower default, with costs shared proportionately between FLI and FLS.
grant_single_labels|projects
- Démarrage d'entreprise, mesurant la phase entre le début de la commercialisation et l'atteinte du seuil de rentabilité.
- Relève entrepreneuriale, pour des individus ou groupes possédant au moins 25 % de la valeur d'une entreprise pour en prendre la direction.
- Acquisition d'entreprise, incluant l'achat des actifs ou des actions existantes.
- Amélioration et transformation des entreprises, appuyant des projets d'amélioration de la productivité et de transformation numérique.
- Croissance et expansion d'entreprises, favorisant la commercialisation de nouveaux produits ou services, projets d'expansion ou l'implantation de nouvelles filiales.
- Financement temporaire, par exemple, à court terme en attente de revenus confirmés.
- Redressement, pour les entreprises en crise non cruciale, s'appuyant sur un management fort et un plan de redressement viable.
grant_single_labels|admissibility
- Businesses must be legally constituted for-profit enterprises under Quebec or Canada laws.
- Collective enterprises like cooperatives and non-profit organizations with commercial activities are eligible.
- The business must operate within the territory of the City of Gatineau and have its head office in Quebec.
- It must be registered with the Quebec Business Registry (Registre des entreprises du Québec - REQ).
- For the Fonds local de Solidarité (FLS), social economy enterprises must meet conditions outlined in Annex A.
grant_eligibility_criteria|who_can_apply
- Legally incorporated for-profit companies under the laws of Quebec or Canada
- Collective enterprises (cooperatives and non-profit organizations) engaged in commercial activities
grant_eligibility_criteria|who_cannot_apply
- Companies registered in the Register of enterprises ineligible for public contracts (RENA).
- Enterprises that have not met their obligations with previous financial aids from the Ministry or the City of Gatineau in the last two years.
- State-owned enterprises or those controlled directly or indirectly by the government.
- Companies under the protection of the Companies' Creditors Arrangement Act or the Bankruptcy and Insolvency Act.
- Enterprises with unethical behaviors negatively affecting the government's or municipality's image.
- Companies with irresponsible environmental practices.
- Businesses with a history of violating labor or human rights legislations.
- Organizations involved in armament production or distribution.
- Fossil fuel-related exploration, extraction, drilling, production, and refining, barring transition to low-carbon economy activities.
- Gambling and gaming operations, like casinos and bingo halls.
- Activities relating to violent games or combative sports involving living beings.
- Businesses engaged in sexual exploitation or related services.
- Real estate management and development industries.
- Companies dealing in tobacco or drug-related products, with specific exceptions for certain cannabis and industrial hemp-related activities.
grant_eligibility_criteria|eligible_expenses
- Additional working capital requirements for a period of up to two years for the realization of the enterprise's project.
- Capital expenditures directly related to the realization of the enterprise's project, such as acquisition of technology, land, buildings, equipment, machinery, and rolling stock, as well as construction, expansion, renovation, development of land and premises.
- Professional fees incurred prior to the realization of the enterprise's project, such as feasibility analysis, external audit, or impact study.
- Professional fees directly and strictly related to the realization of the enterprise's project, such as implementation of technology, equipment, and machinery, as well as acquisition, construction, renovation, and development of land and premises.
- Acquisition costs of property titles of the targeted company (voting shares or parts) and assets of the targeted company.
- Professional fees directly related to the transaction and acquisition of the enterprise, as well as the transmission of company management.
grant_eligibility_criteria|zone
- Territory of the City of Gatineau
- Headquartered in Quebec
grant_single_labels|criteria
- The robustness and credibility of the business model, including aspects such as value proposition, market segments, distribution channels, client relations, key resources, activities, partners, revenue streams, costs, and environmental impact.
- The economic viability of the financed project, ensuring the project's potential for sustainable profitability and repayment capacity.
- The knowledge and experience of the promoters, focusing on relevant domain expertise and managerial capabilities.
- The environmental and societal benefits, with a preference for projects that improve the socio-economic and environmental landscape of Gatineau through sustainable business practices.
- The openness and approach to worker relations within the company.
- The avoidance of projects that solely result in subcontracting or privatization without creating new economic activities or employment.
- The involvement of other financial partners, encouraging partnerships with financial institutions and requiring promoter contributions as part of the project funding.
- The capacity of the project to ensure the longevity and self-sustainability of the funds.
grant_single_labels|register
- Step 1: Collect Required DocumentsComplete the financial aid application form and ensure it is dated and signed.
- Prepare a detailed business plan or project description as requested in the financial aid application.
- Provide a detailed breakdown of expenses related to the project.
- Compile a financial structure for the project and confirm any other financial aid or funding related to the project.
- Submit financial statements for the last three years.
- Include interim financial statements if the financial statements are older than six months or if the company is less than a year old.
- Prepare future financial statements as forecasts.
- If applicable, provide a declaration confirming compliance with francization requirements or a copy of the francization certificate.
- If applicable, submit a declaration confirming compliance with employment equity or a copy of the Employment Equity Access Program.
- Include any other required documents.
- Step 2: Submit ApplicationEnsure all gathered documents and forms are completed accurately.
- Submit the application to Investissement et Développement Gatineau at their specified location: 25, rue Laurier, 7e étage, Gatineau (Québec) J8X 4C8 via mail or fax (phone: 819 595-8002 / fax: 819 595-2727).
- Step 3: Review and Decision ProcessThe application will be analyzed by Investissement et Développement Gatineau according to thorough criteria.
- Ensure to provide any additional information or documents if requested during the evaluation process.
grant_single_labels|otherInfo
- The "Fonds locaux" are tools designed to accelerate business projects across the territory, proactively supporting initiatives.
- The financial aid from the "Fonds locaux" is essential for securing other funding sources, such as traditional bank loans or other capital infusions.
- The FLI/FLS partnership involves a singular loan contract indicating the total loan amount and a weighted interest rate, which may differ for each fund.
- Under certain conditions, the FLI or FLS can invest independently, deviating from the usual joint investment strategy if a case is deemed too risky.
- In cases where the risk associated with an investment dossier is too high for one of the funds, the other fund may assume a greater share.
- The administrative fees related to the investment are to be kept at a minimum by the representative of the City of Gatineau.
- Legal costs associated with the realization of the investment are borne by the promoters.
- Investments through the "Fonds locaux" are managed by Investissement et Développement Gatineau on behalf of the City of Gatineau.
- The consignment of investments is conducted under the oversight of a communal investment committee (CIC).
grant_single_labels|contact
819 595-8002
