MRC Bécancour — Local investment fund (FLI) - “new business” component
Overview
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.
At a glance
Funding available
- Renovate your business/factory
- Maximum amount : 75,000 $
- Up to 25% of project cost
- Open continuously
Eligible candidates
- Manufacturing
- Bécancour
- Centre-du-Québec
- Quebec
- For-profit business
- Sole proprietorship
- All revenue ranges
- All organization sizes
- Startups
Activities funded
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.
Eligibility
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.
How to apply
Eligibility Check
- Confirm that your business operates in the manufacturing sector and meets the eligibility criteria.
- Ensure that the investment project is between $20,000 and $300,000.
Preparation of the documentation
- Prepare a detailed business plan including financial projections.
- Gather your business documents from the REQ (Register of Enterprises of Quebec).
- Assemble evidence of existing or potential additional funding.
Assembly of the request
- Write a complete request including project details, use of funds, and funding needs.
- Once again, attach all necessary supporting documents.
Submission of the request
- Submit the application to the responsible committee via the portal or the address indicated on the local investment fund's website.
- Ensure that the submission is complete and adhere to the submission deadlines.
Follow-up after submission
- Receive confirmation of receipt of your request from the responsible organization.
- Follow the instructions for any additional information required.
Additional information
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.
