MRC Bécancour — Local solidarity funds (FLS)

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.

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.

Who is eligible?

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.

Who is not eligible

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.

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.

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.