MRC Bécancour — Local Investment Fund (FLI) - “Developing business” component
QC, Canada
Development loans for Quebec manufacturing businesses
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
- Manufacturing
grant_single|grantors
- MRC Bécancour
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds local d’investissement (FLI) – "entreprise en développement" provides term loans for investment projects in the manufacturing sector, with a maximum funding of $75,000 for eligible activities such as the acquisition of capital assets and working capital needs tied strictly to business operations. The program is designed to support manufacturing enterprises in Québec that have been operational for at least two years, with projects ranging from $50,000 to $300,000.
grant_single_labels|projects
This grant supports investment projects within the manufacturing sector aiming at the acquisition and development of capital assets. Eligible activities are focused on expanding operational capabilities and strengthening the business infrastructure.
- Acquisition and development of land or buildings.
- Purchase of equipment and machinery.
- Procurement of rolling stock essential for operational needs.
- Coverage of incorporation expenses.
- Provision for working capital strictly related to business operations.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the company's status and the proposed project's financial structure.
- The company must have been in operation for two years or more.
- The proposed investment project must be valued between $50,000 and $300,000.
- The company must be registered in the Quebec Enterprise Register (REQ).
- The company must contribute at least 10% of the project's total cost as equity.
grant_eligibility_criteria|who_can_apply
The Fonds local d’investissement (FLI) - entreprise en développement is open to businesses that have been operating for at least two years within the manufacturing sector in Quebec. Eligible companies can apply for a term loan, provided they meet the following conditions:
- The project must involve an investment between CAD 50,000 and CAD 300,000.
- The company must be registered in the Quebec Business Register (REQ).
- The applicant must provide at least 10% of the project's cost as equity.
grant_eligibility_criteria|who_cannot_apply
This grant is not available for companies operating in certain sectors or types of industries. The restrictions ensure the funds are awarded to businesses in strategic sectors that meet the grant's objectives.
- Companies in the traditional tertiary sector, including retail and services.
- Businesses in the tourism industry.
- Companies in the agri-food sector.
- Primary agricultural businesses.
grant_eligibility_criteria|eligible_expenses
The grant covers specific capital expenses critical to the development of the business.
- Capital expenditures: land, buildings, equipment, and rolling stock.
- Incorporation fees.
- Working capital strictly related to the operations of the business.
grant_single_labels|register
- Step 1: Determine Eligibility
- Ensure your business falls within the eligible sectors: manufacturing.
- Verify that your business has been operational for a minimum of two years.
- Confirm that the project investment is between $50,000 and $300,000.
- Check that your business is registered with the Quebec Business Register (REQ).
- Ensure you have at least 10% of the project cost available as equity.
- Step 2: Prepare Necessary Documentation
- Compile project details including objectives, budget, and timeline.
- Gather financial statements and business plans.
- Prepare documents demonstrating financial support from other partners.
- Step 3: Complete Application Form
- Fill out the application form provided by the funding body.
- Attach all required documentation and references.
- Step 4: Submit the Application
- Submit the completed application form and documents according to the instructions provided by the funding body.
- Ensure submission is before the deadline.
- Step 5: Follow Up
- Contact the funding body for confirmation of receipt or any additional requirements.
- Keep records of submission and correspondence.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The loan includes a benefit of interest-free payments in the first year.
- Interest applies in the subsequent years, starting at a reduced rate of 50% of the current interest rate in the second and third years.
- The financial support from this fund must be complemented by other financial partners.
- The term for repayment is a maximum of 84 months.
- A portion of the project's cost must be covered upfront by the applicant, specifically at least 10% of the project cost as the promoter's equity.
Apply to this program
Invest in Your Manufacturing Business with the FLI Grant
The Fonds local d’investissement (FLI) provides a unique opportunity for manufacturing enterprises in Québec to secure financial support for development projects. With a maximum loan amount of $75,000 and favorable repayment conditions, this grant facilitates substantial investments in infrastructure and equipment, paving the way for business growth.
Understanding the FLI "Entreprise en Développement" Grant
This grant is specifically designed to bolster the manufacturing sector by providing essential financial resources to businesses that are poised for growth. To be eligible for this support, companies must demonstrate a minimum of two years of operation and have a substantive project requiring an investment between $50,000 and $300,000. The grant mandates that the enterprises contribute a minimum of 10% of the project cost from their own funds, ensuring that they have a vested interest in the success of their project. This arrangement not only empowers businesses financially but also encourages responsible fiscal management and investment foresight.
The nature of the aid offered through the FLI grant is a term loan, covering up to 25% of the project cost, with a ceiling of $75,000. This financial structure is particularly advantageous as it provides zero interest in the first year, followed by reduced interest rates for the second and third years, before settling into full interest payments thereafter. This phased financial obligation allows businesses to focus on growth and on optimizing their investments during the critical early stages of project implementation. The loan's tenure of up to 84 months also provides a manageable timeline for companies to generate returns from their investments.
Only certain expenses qualify for coverage under this program, specifically capital expenses such as land acquisition, building construction or purchase, equipment, and rolling stock. Also included are costs associated with incorporation, excluding goodwill, and working capital needs directly related to the enterprise’s operations. This ensures that the funds are invested in tangible and actionable resources that will significantly contribute to the business’s scalability and operational capacity.
The grant's focus on complementary funding means that businesses must seek additional financial partners, such as banking institutions or governmental organizations, to cover other project costs. This collaborative approach not only diversifies the financial base of the project but also indicates a broader commitment and confidence in the project's potential from multiple stakeholders.
Ultimately, the FLI grant is a catalyst for robust development within the manufacturing sector in Québec, promoting both innovation and sustainability. By offering financial assistance coupled with a structured repayment plan, this grant not only helps bridge the funding gap faced by many growing businesses but also supports them in establishing a more substantial market presence. Enterprises that successfully leverage this grant can anticipate enhanced productivity, improved competitive standing, and a stronger contribution to regional economic development.
