MRC Bécancour — Local investment fund (FLI) - “new business” component
QC, Canada
Investment loan for Quebec manufacturing startups under two years
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
<p>The Fonds local d’investissement (FLI) - "nouvelle entreprise" program provides term loans of up to 25% of the project cost, with a maximum of $75,000, to support new manufacturing businesses operating for less than two years. Eligible activities include capital expenses such as land, buildings, equipment, rolling stock, and working capital needs related to business operations.</p>
grant_single_labels|terms_and_conditions
This grant provides a structured financial assistance package designed to support new manufacturing enterprises as they embark on their business ventures. The financing modalities are strategically structured to facilitate the growth of young businesses with advantageous terms.
- Term loan with a maximum of 25% of the project cost, capped at $75,000.
- Loan duration extends to a maximum of 84 months.
- The first year offers a moratorium on the principal with zero percent interest.
- During the second and third years, repayments include principal installments still at zero percent interest.
- In subsequent years, the loan repayments include principal and interest.
- The financial assistance is meant to be complementary to other financial contributions, including those from financial institutions and government bodies, alongside the promoter’s own investment.
grant_single_labels|projects
This fund is designated to support new manufacturing enterprises with their capital investment needs. Eligible projects typically involve setting up and enhancing operations to build and grow their manufacturing base.
- Acquisition of land for establishing manufacturing facilities.
- Construction or renovation of manufacturing buildings.
- Purchase of manufacturing equipment and machinery.
- Investment in rolling stock essential for manufacturing operations.
- Costs associated with business incorporation in Quebec.
- Provision for working capital necessary for the early operational phase.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements that a company must meet.
- The company must be operating for less than 2 years.
- The company must be registered with the Quebec Business Register (REQ).
- The investment project must be between $20,000 and $300,000.
grant_eligibility_criteria|who_can_apply
This grant is available for new businesses in the manufacturing sector that have been operational for less than 2 years and meet specific registration and investment criteria.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain companies and industries due to their status or main activity. The restrictions ensure funds are directed toward the targeted sectors of interest.
- Companies in the primary agricultural sector.
- Businesses operating in the traditional tertiary sector, including retail and service industries.
- Companies in the tourism industry.
- Non-profit organizations.
grant_eligibility_criteria|eligible_expenses
The grant covers specific capital expenses and operating fund needs related to company operations.
- Capital expenses: land, building, equipment, rolling stock, and incorporation fees (excluding goodwill).
- Working capital needs related to the company's operations.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Verify Eligibility
- Ensure the business is in the manufacturing sector and is under two years old.
- Confirm the business is registered in the Quebec Enterprise Register (REQ).
- Validate that the proposed investment is between $20,000 and $300,000.
- Step 2: Develop Project Proposal
- Prepare a detailed project plan including objectives, scope, and expected outcomes.
- Outline the capital expenses and working capital needs related to business operations.
- Collect documentation to demonstrate financial needs and other partner contributions.
- Step 3: Gather Required Documents
- Compile requisite documents such as financial statements, proof of REQ registration, and evidence of other financial partnerships.
- Include any legal documents related to business establishment and operation.
- Step 4: Complete Application Form
- Access the application form through the fund provider's website or contact their office for guidance on obtaining it.
- Fill out the application form meticulously, providing all necessary details about the project and business.
- Step 5: Submit Application
- Ensure all documents and the application form are complete and accurate.
- Submit the application as instructed by the fund provider, either online, via mail, or in person.
- Step 6: Confirmation and Follow-up
- Await confirmation of receipt from the fund provider.
- Track application status regularly and be available for any follow-up queries or additional information requests from the provider.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The financial aid is complementary, requiring contributions from other financial partners and a promoter's equity share.
- There is an interest-free period during the first three years, with repayments starting with principal only.
- Gaining a partnership with other financial entities or governmental bodies is necessary to utilize this loan.
