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
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.
grant_single_labels|projects
This grant supports new businesses in the manufacturing sector by providing financial assistance for various investment projects. It is designed to help entrepreneurs with capital investments and operational needs within the eligible sector.
- Purchase of land and construction of manufacturing facilities.
- Acquisition of new manufacturing equipment and machinery.
- Procurement of vehicles necessary for manufacturing operations.
- Covering costs associated with business incorporation and initial setup.
- Supporting working capital requirements linked to business operations.
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.
Apply to this program
Investment Fund Boost for New Manufacturing Enterprises
The Fonds local d’investissement (FLI) - "nouvelle entreprise" assists new manufacturing enterprises in Quebec by providing term loans to encourage capital investment. This program seeks to stimulate economic growth in the manufacturing sector by supporting businesses during their crucial early years of operation.
Detailed Insights into the Fonds local d’investissement Grant for New Enterprises
The Fonds local d’investissement (FLI) for new enterprises is a significant opportunity for burgeoning manufacturing businesses in Quebec. This funding initiative is structured to propel these enterprises by offering critical financial support that includes term loans covering up to 25% of the total project costs, capped at $75,000. Such funding is crucial for young organizations grappling with the high costs associated with business development, allowing them to focus on growing their operations without the immediate burden of financial constraints.
Specifically tailored for manufacturing enterprises, the FLI new enterprise component enhances the financial foundation necessary for businesses in the sector to scale operations effectively. The loan facility is available for capital expenditures directly related to building or expanding the business. Eligible expenses under this grant extend to covering costs associated with land acquisition, construction of buildings, purchase of equipment and machinery, and incorporation fees among others, although goodwill is not covered.
A key feature of this funding is the complementary nature of the assistance, meaning that the FLI program is intended to supplement existing financial structures. Businesses can leverage this grant alongside contributions from financial institutions or governmental organizations. By mandating that the funding works in conjunction with other financial inputs, it ensures a well-rounded financial strategy that promotes resilience and sustainable growth.
The terms of the loan are designed to provide flexibility and ease the early-stage cash flow challenges typically faced by new enterprises. In the first year, the grant offers a moratorium on both the capital and interest, with no repayments required. During the second and third years, repayments are restricted only to the capital, again with zero interest, thus alleviating the financial pressure on burgeoning businesses. This approach effectively empowers enterprises to reinforce their financial stability before full repayment terms, including interest, commence in subsequent years.
Moreover, the program encourages enterprises to lay down precise plans addressing how the borrowed capital will be utilized and how it aligns with long-term business goals. Such detailed planning ensures that recipients of the grant are focused on strategic growth plans that are sustainable and innovative, potentially paving the way for further expansion and increased market presence.
The FLI's commitment to fostering the development of the manufacturing sector represents a nod to its centrality in Quebec’s economic landscape. By incentivizing investment in this sector, the grant supports a foundational part of the regional economy, which is essential for job creation and technological advancement. The focus on manufacturing highlights the province's goal to strengthen its competitiveness and ensure the continuation of its industrial legacy with modern, adaptable practices.
In conclusion, the Fonds local d’investissement grant for new enterprises is a pivotal initiative aimed at nurturing the growth of emerging manufacturers in Quebec. It provides not only the financial means to kickstart their projects but also aligns them with broader economic goals that emphasize innovation and development. By leveraging this grant, enterprises can build a strong foundation for future success and contribute to the flourishing of Quebec’s manufacturing sector.
