MRC Arthabaska - Local Investment Fund (FLI)
QC, Canada
Financial and technical support for business growth and startups
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Manufacturing
- Professional, scientific and technical services
grant_single|grantors
- MRC Arthabaska
grant_single|status
grant_card_status|open
grant_single_labels|preview
This grant program is designed to assist the startup, acquisition, or expansion of manufacturing or business service companies through term financing, offering loans up to $40,000 at a competitive rate. Eligible activities include projects that generate employment in the Arthabaska region, provided the company is not operating in a highly competitive sector.
grant_single_labels|projects
This grant focuses on supporting the launch, acquisition, or expansion of manufacturing or business service companies. Eligible projects must generate employment and fall within specific sectors as outlined.
- Start-up of new manufacturing businesses within the designated region.
- Expansion projects for existing companies in the manufacturing or business services sectors.
- Acquisition of existing businesses in the manufacturing or business services sectors, provided they contribute to economic growth.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the company's location, sector, and project objectives.
- The company must be a for-profit entity located in the MRC d'Arthabaska.
- The company should be in the manufacturing or business services sector, excluding those in highly competitive sectors.
- The company must be in its start-up phase or undergoing expansion.
- A financial contribution from the company is required.
- The project must aim to generate employment.
- The loan must not be used for operational expenses, debt financing, repayment of loans, or funding of projects already completed.
grant_eligibility_criteria|who_can_apply
The grant is targeted at for-profit businesses located in the MRC of Arthabaska that are either in a startup or expansion phase.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain companies due to their sectoral focus and financial practices. The restrictions ensure that funding supports suitable industries and viable projects.
- Companies in high-competition sectors within manufacturing or business services.
- Businesses seeking loans for operational costs or existing debt repayment.
- Firms intending to finance already completed projects.
grant_eligibility_criteria|eligible_expenses
The grant is designed to support capital expenses specifically aimed at launching or expanding business operations.
- Purchase of equipment necessary for business startup or expansion.
- Costs related to the acquisition of new technology or software essential for operations.
- Expenses for modifications or renovations of facilities to support business growth.
- Expenditures for professional services that aid in the completion or enhancement of the business plan.
grant_eligibility_criteria|zone
This grant is specifically available for companies located within a particular regional municipality in Canada. Eligibility is confined to ensure support is given to local economic development.
- Businesses situated in the MRC of Arthabaska.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Determine Eligibility
- Ensure that your business is a for-profit entity located in the MRC of Arthabaska.
- Confirm that your business is in the startup or expansion phase within the manufacturing or business services sector.
- Step 2: Prepare Business Plan
- Develop a comprehensive business plan highlighting the new business venture or expansion project.
- Ensure the project details how it will generate employment and meet other grant conditions.
- Step 3: Prepare Financial Projections
- Create detailed financial projections for the upcoming years.
- Outline the necessary funding amount and how it will be utilized.
- Step 4: Application Submission
- Compile all necessary documentation, including the business plan and financial projections.
- Contact the designated grant authority for submission guidelines and requirements.
- Submit the completed application and all required documents as instructed by the authority.
- Step 5: Await Approval
- Receive confirmation of application receipt from the grant authority.
- Monitor communications for any requests for additional information or clarification.
- Receive notification of approval status once the application has been reviewed.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The loan must not be used for operational expenses, refinancing existing debts, or funding completed projects.
- Applicants may be required to provide additional documentation or fulfill specific conditions upon review of their application.
- The provided support includes technical assistance with business plan development and ongoing monitoring and support throughout the loan term.
Apply to this program
An Opportunity to Launch or Expand Your Business
This grant program is designed to support the launch, acquisition, or expansion of manufacturing or business service enterprises through term financing. It targets companies located in the MRC of Arthabaska aiming to generate employment and navigate manageable competition landscapes.
Understanding the Grant: Key Features and Opportunities
The program focuses on empowering new and expanding manufacturing and business service companies by offering both financial and technical support designed to promote economic development within the MRC of Arthabaska. It provides a term financing option, available for up to five years, that is designed to be competitive with market rates. This financial assistance ranges from $5,000 to $40,000, and in cases of business expansion, the program may offer amounts exceeding this range to bolster their growth projections.
The financial support is complemented by a comprehensive technical assistance offering, guiding businesses in crafting effective business plans and providing critical follow-up and mentorship throughout the loan period. This support aims to increase the stability and success rates of ventures by offering strategic oversight and development resources.
Eligibility criteria demand that businesses demonstrate a clear commitment to employment generation and that ventures are positioned within low-competition sectors to foster sustainability and market viability. The grant is attentive to ensuring that funds are used strategically for forward-moving initiatives, such as infrastructure development or new operational expansions, rather than simply servicing existing debts or operational costs. This restriction is essential in maximizing the grant’s impact towards fostering long-term growth and innovation.
Furthermore, each application undergoes a rigorous evaluation process where additional criteria may be introduced to ensure that candidates not only meet basic requirements but also align with broader economic development goals in the region. Recipients are expected to maximize the strategic use of these funds, showcasing potential for significant workforce development and enhanced service or manufacturing capabilities within Arthabaska.
Businesses that find themselves eligible have the opportunity to leverage this funding to strategically position themselves for success by transitioning through phases of start-up or expansion with the added security of financial backing and expert guidance. Through this dual-support mechanism, businesses are well-positioned to create lasting impacts on the local economy by innovating and scaling in a constructively competitive manner.
This grant underscores a commitment to enriching the local economy, envisioning business growth as part of a sustainable, job-creating ecosystem. The program not only seeks to fill immediate capital needs but also aims to lay the groundwork for sustained economic health in the area by prioritizing projects with long-term potential over short-term expediency.
This strategic approach positions the grant program as a pivotal resource for businesses striving to elevate their operations to meet modern challenges with resilience and adaptability. By participating in this program, companies can harness available resources to drive impactful change, contributing significantly to the community's prosperity and embracing innovative market opportunities.
