MRC Bécancour — Local solidarity funds (FLS)
grant_single|update January 24, 2025
QC, Canada
Local Solidarity Fund loans for eligible Quebec businesses
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Manufacturing
- Retail trade
- Accommodation and food services
- Other services (except public administration)
- Public administration
grant_single|grantors
- MRC Bécancour
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds locaux de solidarité (FLS) offers loans ranging from $5,000 to $100,000 to new, developing, and acquiring businesses within eligible sectors such as manufacturing, commercial services, tourism, and agri-food. The funding aims to support financial needs related to operational working capital and additional capital requirements for the first year of development projects.
grant_single_labels|terms_and_conditions
This grant offers financial support in the form of loans to facilitate the growth and development of eligible businesses. The financial assistance is structured to complement other funding sources and requires promoter contribution.
- Term loan ranging from $5,000 to $100,000.
- Loan duration is a maximum of 84 months.
- Funding is complementary with other financial partners, such as financial institutions and government organizations.
- A promoter's financial contribution of at least 10% of the project cost is required.
- Eligible expenses include working capital needs related to business operations and additional working capital needs calculated for the first year following a development project.
grant_single_labels|projects
This grant serves to support businesses in various sectors by providing financial assistance for operational growth and strategic development projects. Eligible projects are those aligned with developing or acquiring businesses across Canada's manufacturing, commercial, service, and tourism sectors.
- Projects supporting the development of new manufacturing technologies or facilities.
- Initiatives aimed at expanding commercial business operations or entering new markets.
- Strategic service sector projects focused on enhancing service delivery or customer outreach.
- Tourism industry ventures aimed at improving tourist facilities or services.
- Acquisition of existing businesses to promote local economic growth.
grant_single_labels|admissibility
The eligibility for the grant requires meeting specific financial and registration criteria, as well as demonstrating project commitment.
- The applicant must have financial forecasts that demonstrate profitability.
- A marketing plan must be provided.
- The business must be registered in the Quebec business registry.
- The promoter must provide a minimum down payment of 10% of the project cost.
grant_eligibility_criteria|who_can_apply
The Fonds locaux de solidarité (FLS) provides loans for new businesses, businesses in development, and businesses to be acquired within the sectors of agriculture, commerce, manufacturing, services, and tourism in Quebec. Notably, primary agricultural sectors and general contractors in construction are not eligible. Companies must demonstrate financial forecasts indicating profitability, have a marketing plan, be registered with the Quebec enterprise register, and the promoter must contribute a minimum of 10% of the project's cost.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain industries and types of companies based on their primary sector activities. The goal is to focus financial aid on key sectors as specified in the grant guidelines.
- Companies in the primary agricultural sector.
- General construction entrepreneurs.
grant_eligibility_criteria|eligible_expenses
The grant covers eligible expenses related to working capital needs for business operations and additional working capital needs for the first year following a development project.
- Working capital needs related to business operations.
- Additional working capital needs calculated for the first year following a development project.
grant_single_labels|apply
Here are the steps to submit an application for this grant:
- Step 1: Verify Eligibility
- Ensure your business is within the eligible sectors: manufacturier, agroalimentaire, touristique, commercial, and service.
- Confirm that your business activities do not fall within non-eligible sectors like primary agriculture and general construction contracting.
- Step 2: Prepare Documentation
- Compile financial forecasts demonstrating potential profitability.
- Prepare a comprehensive marketing plan.
- Obtain documentation proving your business registration with the Quebec enterprise register.
- Ensure you have a minimum 10% personal investment of the total project cost available.
- Step 3: Develop Project Proposal
- Outline the project's objectives, needs for working capital, and development plans.
- Ensure the proposal includes a detailed explanation of how the funds will augment existing financial support from other partners.
- Step 4: Application Submission
- Contact the appropriate representative from the Fonds locaux de solidarité for submission details.
- Submit all required documents and the completed application form as directed.
- Step 5: Confirmation of Receipt
- Wait for a confirmation of your application submission from the funding body.
- Note the date and any application reference number provided for your records.
grant_single_labels|otherInfo
Additional key details for the Fonds locaux de solidarité (FLS) include the following:
- The loan is designed to be complementary to other financial partnerships, which may include traditional financial institutions or governmental bodies.
- A minimum personal financial commitment from the promoter is obligatory, indicating substantial involvement from the entrepreneur in the project.
- The loan supports operational working capital needs pertinent to business activities and expansion within the first year.