MRC Bécancour — Local investment fund (FLI) - “new business” component

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.

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.

Who is eligible?

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.

Who is not eligible

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.

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.

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.