How much funding can be received?

Funds up to 25% of admissible expenses, capped at $75000 per project.

What is the deadline to apply?

The deadline to apply is not specified.

MRC Bécancour — Local Investment Fund (FLI) - “Developing business” component

Q: What are MRC Bécancour — Local Investment Fund (FLI) - “Developing business” component's eligibility criterias?

Company must have been in operation for two years or more. Investment project must range between $50,000 and $300,000. Company must be registered in the Quebec business register (REQ).

QC, Canada

Development loans for Quebec manufacturing businesses

grant_single|update January 24, 2025

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Loans and Capital investments

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Manufacturing

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MRC Bécancour

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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.

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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.

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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.

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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.

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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.

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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.

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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.