MRC La Matapédia — FLI-FLS QC Canada

MRC La Matapédia — FLI-FLS

QC, Canada
Local Investment Funds for economic development in La Matapédia
grant_single_labels|summary
grant_single_labels|preview
grant_single_labels|projects
grant_single_labels|admissibility
grant_single_labels|criteria
grant_single_labels|register
grant_single_labels|otherInfo

grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|fromMinToMax
  • grant_single|projectCostPercent
grant_single|deadlines
  • grant_single|openingDateApril 01, 2023
  • grant_single|closingDateApril 01, 2023
  • grant_single|grantStatusClosed
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
  • Manufacturing
  • Professional, scientific and technical services
  • Health care and social assistance
  • Other services (except public administration)
  • Public administration
grant_single|grantors
  • MRC La Matapédia
grant_single|status
grant_card_status|open

grant_single_labels|preview

The Fonds Local d'Investissement (FLI) and Fonds Local de Solidarité (FLS) program provides financial support to new and existing businesses to aid their development and job creation within the MRC of La Matapédia, with a maximum funding limit of up to $150,000 from the FLI and $100,000 from the FLS. Eligible activities include business start-ups, entrepreneurial succession, business acquisitions, improvements, expansions, and temporary financing, with specific conditions concerning the project's economic impact and sustainability.

grant_single_labels|projects

This grant program is designed to financially support various business stages and developmental endeavors in the MRC de La Matapédia. Eligible projects focus on the growth, improvement, and sustainability of business activities, ensuring long-term viability and contribution to the local economy.
  • Startup phase from the beginning of commercialization to reaching profitability.
  • Entrepreneurial succession involving the acquisition of a significant ownership stake in an existing business.
  • Business acquisitions by another entity, accompanied by corporate guarantees.
  • Projects aimed at improving productivity, digital transformation, and implementing sustainable organizational practices.
  • Business growth and expansion projects, including new products or services, export plans, and subsidiary establishment.
  • Bridge financing awaiting confirmed revenue sources.
  • Turnaround initiatives for businesses facing non-critical crises but with strong management and creditor support.

grant_single_labels|admissibility

The eligibility criteria for companies to apply for this grant are as follows:
  • Companies must be legally constituted under the laws of the Government of Quebec or Canada.
  • Enterprises must be for-profit entities or collective enterprises such as cooperatives and non-profit organizations (OBNL) with commercial activities as defined by the social economy legislation.
  • The head office of the company must be located in Quebec, and they must conduct business within the MRC de La Matapédia. Exceptions may be made for companies generating economic returns and employment in La Matapédia even if headquartered outside the region.
  • Applicants must be registered with the Quebec Business Register (REQ).

grant_eligibility_criteria|who_can_apply

This grant targets legally constituted for-profit enterprises and collective enterprises, including cooperatives and non-profit organizations operating within the MRC of La Matapédia in Quebec. Specific eligibility criteria apply based on the type of business and its activities.
  • For-profit enterprises legally constituted under Quebec or Canadian law, with their head office in Quebec and actively doing business in the MRC of La Matapédia.
  • Collective enterprises (cooperatives and non-profit organizations) with commercial activities, particularly those defined as social economy enterprises under Quebec law.
  • Non-profit organizations engaged in the social economy and adhering to specified conditions, including operating in the market economy, having completed their start-up phase, and demonstrating a majority of permanent (non-subsidized) jobs.
  • Enterprises based outside the MRC are eligible if they generate economic impact and jobs within the MRC of La Matapédia.
  • Exclusions apply to entities on the public contracts non-eligibility list, state-controlled enterprises, those in insolvency, and those with negative ethical or environmental records.

grant_eligibility_criteria|who_cannot_apply

This grant excludes certain companies and industries due to their status or main activity. The restrictions aim to ensure that funds are directed toward strategic sectors aligned with the grant's objectives.
  • Companies listed in the Register of companies ineligible for public contracts (RENA).
  • Businesses with unfulfilled obligations from previous financial aid from the Ministry or regional county municipality within two years prior to the application.
  • State-owned enterprises or those controlled by a government.
  • Companies under creditor protection or bankruptcy proceedings.
  • Organizations with ethical issues that might damage the integrity and probity of the government or municipality.
  • Businesses exhibiting irresponsible environmental behavior.
  • Companies with a history of violating labor standards or human rights legislation.
  • Industries involved in the production or distribution of weapons.
  • Businesses focused on fossil fuel exploration, extraction, or production, unless transitioning to a low-carbon economy.
  • Entities engaged in gambling or betting activities.
  • Operations in violent sports or activities involving combat with living creatures.
  • Sectors related to sexual exploitation or production of pornography.
  • Real estate management and development, outside of specific service-oriented projects for tenants or residents.
  • Activities related to tobacco or drug consumption, except certain cannabis-related interventions.
  • Local bars, video clubs, and arcades.
  • Franchise operations like Tim Horton or McDonald’s.
  • Flea markets.
  • Domestic animal breeding.
  • Financial services.
  • Private daycares and family home care services.
  • Travel agencies or websites.
  • Home product distribution.
  • Businesses offering tattooing and piercing services.

grant_eligibility_criteria|eligible_expenses

The grant supports eligible expenses directly tied to the realization and success of specific projects under the Fonds Local d’Investissement (FLI).
  • Capital expenditures strictly and directly related to the project's realization such as acquisition of land, building, equipment, machinery, rolling stock, and costs related to construction, expansion, renovation, and arrangement of land and premises.
  • Incorporation fees and other similar expenses, excluding goodwill expenses.
  • Acquisition of technologies, software, hardware, patents, and other similar spending, excluding research and development activities.
  • Additional working capital requirements necessary for the project's realization for a maximum period of two years, limited to justified and reasonable expenses.
  • Professional fees before the project's realization, meaning feasibility analysis, external audits, or impact studies.
  • Professional fees strictly and directly associated with the project's realization such as technology implementation, and acquisition-related costs or consultations.
  • For entrepreneurial succession projects, expenditures on acquiring ownership titles or assets and professional fees directly linked to the acquisition transaction and leadership transition.

grant_eligibility_criteria|zone

This grant is specific to the geographical territory managed by the MRC of La Matapédia. Companies must demonstrate economic benefits generated in this area to qualify for funding through this grant.
  • Territory of the MRC of La Matapédia.
  • Businesses with economic impacts and employment within La Matapédia.

grant_single_labels|criteria

The evaluation and selection of projects under this grant are based on specific criteria to ensure the viability and impact of the proposed projects.
  • Economic viability of the financed company, demonstrated through a business plan and financial forecasts indicating profitability and repayment capacity.
  • Economic benefits in terms of job creation and maintenance within the serviced territories.
  • Knowledge and experience of the promoters, highlighting their expertise in the relevant domain and management capabilities.
  • Environmental and societal impact, focusing on practices that improve the socio-economic and environmental footprint of the territory.
  • Openness to workers and the company's approach to labor relations.
  • Participation of other financial partners, including the involvement of financial institutions and the promoters' equity contribution.
  • Sustainability of the funds, with a focus on the self-financing ability of the local funds to maintain and support the portfolio balance.

grant_single_labels|register

Here are the steps to submit an application for this grant:
  • Step 1: Initial Eligibility Check
  • Ensure your business meets the eligibility criteria as listed in the FLI/FLS policy.
  • Verify that your project aligns with the sectors and types of projects supported by the funds.
  • Step 2: Prepare Documentation
  • Complete the application form with details about your business and the project.
  • Prepare financial documents, including the last three years of financial statements and interim statements if applicable.
  • Develop a detailed business plan or project description, including expected outcomes and financial projections for 3-4 years.
  • Gather any additional required documents, such as declarations of compliance with francisation and employment equality, if applicable.
  • Step 3: Application Submission
  • Submit your complete application package to the appropriate MRC office overseeing the fund.
  • Ensure all required documents are included and properly formatted as per guidelines.
  • Step 4: Application Review
  • The MRC's investment committee reviews your application for alignment with fund objectives and completeness.
  • Await notification from the MRC regarding the status of your application.
  • Step 5: Follow-up
  • If additional information is required, respond promptly with the requested documentation or clarification.
  • After approval, engage with the MRC to finalize the funding contract and other formalities.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:
  • The Fonds Local d’Investissement (FLI) and Fonds local de solidarité (FLS) require that any investment must be under a single loan contract with a combined total amount and a weighted interest rate.
  • Projects funded are subject to risk assessment, which determines the interest rate based on a fixed risk premium added to the base rate of Caisse centrale Desjardins, with a minimum of 4.00%.
  • Interest rates can vary depending on the guarantee provided; for example, a secured loan by a first-rank mortgage can have a reduced interest rate.
  • When combining funds from different sources, financial aid from governments of Quebec, Canada, and the MRC cannot exceed 50% of eligible expenses, except for social economy projects where it can reach up to 80%.
  • If a project is considered financially risky for one of the funds, the participation of the other fund may be adjusted.
  • The policy's entry into force and allowable modifications require mutual agreement and compliance with defined frameworks to ensure joint investment and profitability.
  • Administrative fees of 1.50% of the original financing amount apply, with additional fees for reassessment or alteration of initial terms.

Apply to this program