How much funding can be received?

There is no informations about how much funding can be received.

What is the deadline to apply?

The deadline to apply is not specified.

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)

What are Lac-Mégantic Economic Assistance Fund (FAELM)'s eligibility criterias?

Businesses located in the municipality of Lac-Mégantic or the Granit RCM Projects contributing to local economic growth

Lac-Mégantic Economic Assistance Fund (FAELM)

Last Update: July 22, 2025

Lac-Mégantic, QC

Supports economic development and job creation in Lac-Mégantic

Lac-Mégantic Economic Assistance Fund (FAELM) at a glance

Eligible Funding

No Condition

Timeline

Archived

Financing Type

Grant and Funding

Eligible Industries

Manufacturing
Accommodation and food services
Other services (except public administration)
Public administration

Grant Providers

Ministère de l'économie, de l'innovation et de l'énergie du Québec (MEIE)

Status

Archived

Overview of the Lac-Mégantic Economic Assistance Fund (FAELM) program

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.

Financing terms and conditions

Financial assistance totaling $3 million was distributed between April 1, 2018, and March 31, 2022.
15 projects were supported, including 11 with businesses, representing total project value of $12.84 million.
Partner investments accounted for 76% of overall project costs.
The financial leverage effect of the fund was 3.2, with a public spending return ratio exceeding 1.89.

Eligible projects & activities

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 criteria of the Lac-Mégantic Economic Assistance Fund (FAELM) program

The applicant organization must be located in the municipality of Lac-Mégantic or the surrounding area.
The project must contribute to the economic development of Lac-Mégantic or its region.
The applicant can be a business or organization seeking financial support for an initiative aligned with the program's objectives.

Who is eligible?

Businesses located in Lac-Mégantic
Organizations operating in Lac-Mégantic

Eligible geographic areas

Municipality of Lac-Mégantic
MRC du Granit

Eligibility criteria of the Lac-Mégantic Economic Assistance Fund (FAELM) program

Relevance of the project to the economic needs of Lac-Mégantic and the surrounding region.
Ability of the project to generate investments and mobilize partners.
Potential for the project to create or maintain jobs.
Demonstrated value added and utility for stakeholders.
Compliance with established program guidelines and sound management practices.

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.