MRC Les Etchemins — Local investment fund and local solidarity fund
Overview
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.
At a glance
Funding available
- Integrate new technologies
- Increasing community impact
- Develop strategic partnerships
- Maximum amount : 150,000 $
- Up to 80% of project cost
- Open continuously
Eligible candidates
- Construction
- Manufacturing
- Professional, scientific and technical services
- Educational services
- Health care and social assistance
- Arts, entertainment and recreation
- Accommodation and food services
- Other services (except public administration)
- Public administration
- Les Etchemins
- Chaudière-Appalaches
- Quebec
- For-profit business
- Social economy enterprise
- All revenue ranges
- All organization sizes
- Startups
Activities funded
This fund is designed to aid businesses within the MRC region by supporting a variety of growth and development initiatives. Eligible projects focus on business formation, acquisition, and enhancement activities.
- Business startup projects.
- Business succession or acquisition.
- Improvement and transformation of existing businesses.
- Contract financing.
- Business growth and expansion initiatives.
Documents Needed
- Application form
- Financial package / financial model
Eligibility
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.
Who is eligible?
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.
Who is not eligible
- Private companies in the financial sector are not eligible for the Signature innovation program.
- Cooperatives in the financial sector are not eligible for the Signature innovation program.
- Projects that do not take place on the territory of the MRC des Etchemins cannot apply to the FRR Volet 2 program.
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.
Ineligible Costs and Activities
- Goodwill (achalandage).
- Research and development activities.
- Private-sector financial companies.
- Financial-sector cooperatives.
Eligible geographic areas
This grant is available to companies located within the territory of the MRC Les Etchemins. Eligible locations focus on fostering regional economic development.
- Companies based within the MRC Les Etchemins region.
- Entities operating throughout the MRC Les Etchemins territory.
Selection criteria
- Projects must align with the territory’s priorities and comply with the FRR Volet 2 guidelines set out in the MRC des Etchemins intervention framework for territorial revitalization.
- For Signature innovation, the project must fit within one of the three stated themes: panoramic routes and exceptional viewpoints, soft mobility trail networks, or nature-based tourism and accommodation.
- For Signature innovation, the funding level may not exceed 50% of eligible expenses for private businesses and certain private non-profit applicants, and up to 80% for other eligible recipients.
- For the FRR Volet 2 program, the application must be submitted for a project located on the territory of the MRC des Etchemins and must respect the required minimum project cost thresholds.
How to apply
Preparation of the request
- Gather all relevant information about your business or organization, including financial details and project plans.
- Write a clear and concise description of the project, specifying the requirements set by the Local Investment Fund and the Local Solidarity Fund.
Gathering of necessary documents
- Gather the required supporting documents such as the business plan, recent financial statements, and any relevant documentation regarding capital or technologies.
- Prepare the documents related to eligible expenses, including working capital needs and capital expenditures.
Submission of the request
- Fill out the application form for the Local Investment Fund and the Local Solidarity Fund.
- Include the payment for the application fee of $150.
- Send the application and all required documents to the provided email address: pogauthier@mrcetchemins.qc.ca
Additional information
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.
