La Vallée-du-Richelieu Agricultural Microcredit Fund

• The business must primarily engage in agricultural activities.
• The head office and the activities of the project must be located in the territory of the MRC de La Vallée-du-Richelieu.
• The business must be in pre-startup, startup, diversification, transformation, development, or business succession.
• The business must be a member in good standing of the Union des producteurs agricoles (UPA).
• The business must be registered with the MAPAQ and hold a ministerial identification number (NIM).
• The proposed project must not have already been completed and must meet eligible objectives such as the purchase of equipment or animals, payment for consulting services, transformation, distribution, or any other related activity accepted by the committee.
• A promoter contribution of at least 20% of the project is required, which can take the form of capital, equipment, fixed assets, or incorporation fees.

Who is eligible?

• Agricultural businesses with their headquarters and activities located in the Vallée-du-Richelieu MRC

Who is not eligible

• Companies whose main activities are not related to agriculture.
• Enterprises whose head office and activities are located outside the territory of the MRC de la Vallée-du-Richelieu.
• Businesses seeking funding for the acquisition of quotas or other production shares.
• Enterprises that are not members in good standing of the local UPA union.
• Companies that do not have a ministerial identification number (NIM) as an agricultural producer.

Eligible expenses

• Purchase of equipment or animals.
• Consulting service fees.
• Costs related to planting or preparing the land.
• Expenses for processing, distribution, or marketing.
• Acquisition of technologies, software, software packages, or patents (excluding R&D activities).
• Purchase or improvement of land, buildings, equipment, machinery, rolling stock, as well as the construction, expansion, renovation, or development of land or premises.
• Working capital needs for the first year of operation (strictly related to activities).
• For business transfer projects: acquisition of ownership rights or assets of the targeted company, as well as professional fees directly related to the transaction and the transfer of management.

Eligible geographic areas

• Companies headquartered and operating within the territory of the MRC de La Vallée-du-Richelieu.

• Feasibility of the project.
• Applicant's implementation capacity.
• Expected outcomes after the project.
• Leverage effect of the loan.
• Prospect of sustainable development and integration of technologies.

• The fund requires a 20% equity contribution from the applicant, which may take various forms such as capital, equipment, fixed assets, or incorporation fees.
• Only two loans are awarded per year for a period of five years, based on a fixed fund capital.
• The fund is managed in collaboration with the local UPA union and Farm Credit Canada, along with the MRCVR.
• Applicants must be a member in good standing of the local UPA union and possess a ministerial identification number (NIM) confirming agricultural producer status.