MRC Bécancour — Local Investment Fund (FLI) - “Developing business” component
grant_single|update January 24, 2025
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|terms_and_conditions
The MRC Bécancour Local Investment Fund (FLI) "Developing business" component offers structured financial support to help manufacturing enterprises grow. The terms are designed to provide a blend of favorable loan conditions and coordinated financial partnerships.
- Term loan structure offering up to 25% of total project costs, with a maximum loan amount of $75,000.
- Loan duration capped at a maximum of 84 months.
- First-year condition involves repayments of principal amounts only, with no interest charged (0%).
- For the second and third years, repayments consist of principal and interest at 50% of the prevailing interest rate.
- Subsequent years involve repayments of both principal and the full rate of interest.
- Funding complements other financial contributions from financial institutions, government bodies, and promoters' equity contributions.
grant_single_labels|projects
The "Developing business" component of the Local Investment Fund (FLI) supports investment-driven projects in the manufacturing sector. These projects are focused on enhancing operational capacities through capital expenditures.
- Acquisition and development of land and buildings to expand manufacturing capabilities.
- Purchase of equipment and rolling stock for production enhancement.
- Coverage of incorporation costs to formally establish manufacturing operations.
- Supporting working capital needs directly related to the manufacturing 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|apply
- 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.