archived
Lac-Mégantic Economic Assistance Fund (FAELM)
Supports economic development and job creation in Lac-Mégantic
Last Update: March 4, 2026
Funding available
Varies by project
Timeline
- Archived
Location
Lac-Megantic, Estrie, Quebec, Canada
Overview
The Lac-Mégantic Economic Assistance Fund (FAELM) provided up to $3 million in financial support to stimulate investment, entrepreneurship, and economic revitalization in the municipality of Lac-Mégantic between April 2018 and March 2022. Eligible activities included business development, project support, job creation and retention, and initiatives to enhance the local tourism offering.
/100
Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- Attract or retain talent
Eligible Funding
- Varies by project
Timeline
- Archived
Eligible candidates
Eligible Industries
- Manufacturing
- Accommodation and food services
- Other services (except public administration)
- Public administration
Location
- Lac-Megantic
- Estrie
- Quebec
Legal structures
- For-profit business
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- All groups
Next Steps
1
Determine your project
2
Validate your eligibility
Activities funded
- Support for business projects led by companies in Lac-Mégantic.
- Development and launch of new businesses in the region.
- Implementation of projects that increase company revenue and productivity.
- Initiatives contributing to job creation and retention in the local economy.
- Development of the tourism sector, such as hotel construction.
Eligibility
Who is eligible?
- Businesses located in Lac-Mégantic
- Organizations operating in Lac-Mégantic
Eligible geographic areas
- Municipality of Lac-Mégantic
- MRC du Granit
Additional information
- An evaluation confirmed the program's efficiency and effectiveness in supporting key projects and investment in Lac-Mégantic.
- The fund demonstrated strong leverage, with partners contributing 76% of total project costs.
- Beneficiaries and partners generally expressed satisfaction with the program's governance and results.
- The conclusion of the program was scheduled for 2023, with recommendations for optimizing future interventions in economically vulnerable regions.
Contacts
Frequently Asked Questions about the Lac-Mégantic Economic Assistance Fund (FAELM) Program
Here are answers to the most common questions about the Lac-Mégantic Economic Assistance Fund (FAELM). This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.
What is the Lac-Mégantic Economic Assistance Fund (FAELM)?
The Lac-Mégantic Economic Assistance Fund (FAELM) provided up to $3 million in financial support to stimulate investment, entrepreneurship, and economic revitalization in the municipality of Lac-Mégantic between April 2018 and March 2022. Eligible activities included business development, project support, job creation and retention, and initiatives to enhance the local tourism offering.
Who is eligible for the Lac-Mégantic Economic Assistance Fund (FAELM) program?
To be eligible for the Lac-Mégantic Economic Assistance Fund (FAELM) program, you must:
Businesses located in the municipality of Lac-Mégantic or the Granit RCM
Projects contributing to local economic growth
What expenses are eligible under Lac-Mégantic Economic Assistance Fund (FAELM)?
Support for business projects led by companies in Lac-Mégantic.
Development and launch of new businesses in the region.
Implementation of projects that increase company revenue and productivity.
Initiatives contributing to job creation and retention in the local economy.
Development of the tourism sector, such as hotel construction.
Who can I contact for more information about the Lac-Mégantic Economic Assistance Fund (FAELM)?
You can contact Ministère de l'économie, de l'innovation et de l'énergie du Québec (MEIE) by email at evaluation@economie.gouv.qc.ca.
Where is the Lac-Mégantic Economic Assistance Fund (FAELM) available?
The Lac-Mégantic Economic Assistance Fund (FAELM) program is available Estrie, Quebec.
Is the Lac-Mégantic Economic Assistance Fund (FAELM) a grant, loan, or tax credit?
Lac-Mégantic Economic Assistance Fund (FAELM) is a Grant and Funding
Who are the financial supporters of the Lac-Mégantic Economic Assistance Fund (FAELM)?
Lac-Mégantic Economic Assistance Fund (FAELM) is funded by Ministère de l'économie, de l'innovation et de l'énergie du Québec (MEIE)