MRC Les Etchemins — Local investment fund and local solidarity fund
QC, Canada
Investment loans for business growth and development in MRC
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- MRC des Etchemins
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds local d’investissement and Fonds local de solidarité offer complementary loans up to $150,000 and $100,000 respectively, targeted at businesses within the MRC region to support various projects such as startups, business acquisitions, and expansions. Eligible activities include working capital needs, capital expenditures, and professional fees directly related to the realization of the project.
grant_single_labels|projects
The eligible projects for this grant focus on enhancing business operations and facilitating growth within the MRC territory. These initiatives provide financial support for startups, business acquisitions, and expansion plans to drive economic development.
- Startup projects.
- Business succession or acquisition.
- Business improvement and transformation.
- Contract financing.
- Business growth and expansion.
grant_single_labels|admissibility
This grant is available to companies operating within specific parameters.
- The company must be located within the territory of the MRC.
- The company must either be a for-profit business or a social economy enterprise.
grant_eligibility_criteria|who_can_apply
Eligible applicants for the Fonds local d’investissement et Fonds local de solidarité include any business located within the territory of the MRC and social economy enterprises.
grant_eligibility_criteria|eligible_expenses
The grant covers various expenses essential for the establishment and growth of the business.
- Working capital needs related to existing company's expenses for a maximum of two years corresponding to the year of project implementation and the following year.
- Capital expenditures such as land, building, equipment, machinery, rolling stock, incorporation fees, and all other similar expenses, excluding goodwill.
- Acquisitions of technologies, software, packaged software, patents, and all other similar expenses excluding R&D activities.
- Professional fees strictly and directly related to the realization of the company’s project.
grant_eligibility_criteria|zone
This grant is available to companies located within a specific regional territory as determined by the funding body. Eligible locations are focused to promote local economic development.
- All companies operating within the territory of the MRC (Municipalité régionale de comté).
grant_single_labels|register
Here are the steps to submit an application for the Fonds local d’investissement et Fonds local de solidarité:
- Step 1: Review Eligibility and Criteria
- Ensure your business or project falls under an eligible category such as a startup, business acquisition, or expansion.
- Verify that your expenses align with the eligible expenses outlined in the grant criteria.
- Step 2: Gather Necessary Documentation
- Prepare a detailed business plan outlining your project’s objectives, timeline, and financial projections.
- Collect all relevant financial documents, including previous financial statements and cash flow projections.
- Compile any necessary professional documentation, such as quotes for proposed expenses or contracts.
- Step 3: Complete Application Form
- Fill out the application form provided by the MRC for this specific grant.
- Ensure all fields are accurately completed, including contact details and project specifics.
- Step 4: Pay Application Fee
- Submit the $150 application fee, as required, to process your application.
- Step 5: Submit Application
- Email your complete application and supporting documents to pogauthier@mrcetchemins.qc.ca.
- Ensure any additional requirements specific to your type of project or business are included.
- Step 6: Confirmation of Submission
- Await confirmation of receipt from the grant provider.
- Follow up with the contact provided if you do not receive confirmation within a reasonable timeframe.
grant_single_labels|otherInfo
Applicants should be aware of the following additional details regarding this grant:
- The loan may require a guarantee depending on the risk associated with the project.
- Interest rates are determined based on the project's assessed risk level.
- The total combined financial aids from provincial and federal governments, as well as organizations, must not exceed 80% of eligible expenses for social economy enterprises and 50% for other enterprises.
- An application fee of $150 is required upon submission of the application.
grant_single_labels|contact
pogauthier@mrcetchemins.qc.ca
Apply to this program
Boost Your Business with Strategic Financial Support
This grant offers significant financial assistance aimed at fostering economic development by supporting various business projects, including startups and expansions. It provides flexible loan options tailored to complement other financial resources, ensuring accessible funding for eligible enterprises.
In-Depth Exploration of the Grant and Its Strategic Benefits
The Fonds local d’investissement et Fonds local de solidarité grant is a crucial financial tool for businesses situated within the territory of the Municipalité Régionale de Comté (MRC). Designed to catalyze business activities, this grant supports a wide range of projects, including the startup phase, business acquisition or succession, significant company transformations, contract financing, and expansion endeavors, with a clear focus on facilitating growth and ensuring sustainability.
Companies eligible for this grant include not only those operating within the territorial confines of the MRC but also enterprises that adhere to the principles of social economy. This dual eligibility criterion underscores the grant's commitment to enhancing both economic vitality and social responsibility, which are foundational to Canada's regional development strategies. By providing financial backing through loans that can reach up to $150,000 with the Fonds local d’investissement and $100,000 through the Fonds local de solidarité, the grant plays a pivotal role in offering substantial support that is crucial for both small and medium businesses aiming for comprehensive growth in diverse aspects of their operations.
The grant's financial structure is particularly beneficial because it operates as a complementary loan to existing financing options, which means businesses that have already secured funds from other governmental or organizational sources can further augment their financial capabilities using this grant. With a maximum amortization period of 10 years, the grant offers a favorable interest structure dependent on the project-specific risk assessment, allowing companies to manage their repayments without jeopardizing cash flow or operational stability.
One crucial aspect of this grant is its emphasis on covering a variety of eligible expenses. It provides critical funding for working capital needs tied to ongoing business expenses over a specified time frame and supports capital expenditures, including land, buildings, equipment, machinery, and rolling stock. Moreover, the grant covers costs like incorporation fees and the acquisition of technology or software, reflecting its commitment to fostering innovation and operational efficiency within businesses. However, it excludes goodwill-related expenses, ensuring that the funds are directed toward tangible growth areas that yield measurable outcomes.
Applications for this grant require a careful demonstration of how the funds will be used strategically to fulfill the company's project objectives, focusing on areas that will enhance operational capacity, market position, and overall sustainability. By prioritizing projects that promise substantial growth and economic contribution, the grant ensures that its financial support translates into real-world economic benefits and community development.
The grant’s aim to cap combined financial aid from provincial, federal, and organizational sources to 50% for most businesses and 80% for social economy enterprises ensures a balanced allocation of public funds while fostering diverse funding partnerships. This strategic financial planning encourages businesses to seek diverse financing avenues, thus enhancing their financial management skills and reducing over-reliance on any single funding source.
In conclusion, the Fonds local d’investissement et Fonds local de solidarité grant positions itself as a significant financial instrument for driving business innovation and expansion in Canada's regions, accentuating sustainable development while fostering economic resilience. By leveraging this grant, businesses can not only achieve their immediate operational goals but also contribute to creating a robust, diversified economic landscape that benefits both communities and the wider economy.
