)
MRC Bellechasse — Local Investment Fund & Local Solidarity Fund (FLI and FLS)
QC, Canada
Financial support for business development in Bellechasse
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
- grant_single|allIndustries
grant_single|grantors
- MRC de Bellechasse
grant_single|status
grant_card_status|open
grant_single_labels|preview
The MRC de Bellechasse's Development Économique Bellechasse administers financial assistance programs to support private and social economy businesses through initiatives such as start-ups, expansion, and acquisition, with funding options including conventional loans or participatory loans that can reach up to $100,000, alongside a potential 49% equity participation for improving financial structure. Eligible expenses cover capital expenses like land and equipment, acquisition of technology, and working capital for high-growth businesses, market expansion, or productivity improvement.
grant_single_labels|terms_and_conditions
The MRC Bellechasse Local Investment Fund & Local Solidarity Fund (FLI and FLS) offers a variety of financing modalities designed to enhance business growth through strategic financial support. These modalities aim to provide flexibility and financial leverage for qualified businesses.
- Available financing can take the form of conventional loans or participative loans with royalties or options to purchase shares.
- Alternative financial support includes loan guarantees, bond acquisition, or capital participation, excluding grants, interest holidays, capital holidays, sponsorships, and donations.
- Equity participation by Développement Économique Bellechasse (DÉB) can be pursued, not exceeding 49% of share capital and C$100,000, with an obligatory buy-back clause.
- The buy-back price must be set to ensure a profit for DÉB, at least equal to the Bank of Canada's prime rate.
- Equity buy-back must occur within five years, with possible extended terms under exceptional circumstances.
- Prudent management controls are imposed, including stipulations on dividend payments, executive compensation, and major financial decisions.
- Maximum repayment term for loans is set at seven years.
grant_single_labels|projects
The eligible projects for this grant are focused on supporting private enterprises and social economy initiatives within the Bellechasse territory. These projects are aimed at fostering business viability and economic growth through financial support in various business stages.
- Projects involving the start-up of new businesses.
- Business expansion efforts.
- Acquisition of existing businesses.
- Business succession planning and execution.
- Consolidation activities for existing businesses to strengthen their financial footing.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the nature of the business and the type of financial support requested.
- The business must be located within the territory served by Développement Économique Bellechasse (DÉB).
- The business can be a private entity or a social economy enterprise.
- The project must be related to starting up, expanding, acquiring, or consolidating a business.
- For working capital financing, the business should either be undergoing rapid growth, introducing a new product to local or external markets, or aiming to enhance productivity while maintaining current employment levels.
grant_eligibility_criteria|who_can_apply
Eligible applicants for the Fonds Local d'Investissement and Fonds Local de Solidarité (FLI and FLS) include private businesses and social economy enterprises located within the territory served by Développement Économique Bellechasse (DÉB). These funds are available to support projects related to business start-up, expansion, acquisition, succession, and consolidation. Entrepreneurs and enterprises looking to develop viable businesses, create and support employment, and contribute to the economic development of the Bellechasse region are encouraged to apply.
grant_eligibility_criteria|eligible_expenses
The grant covers specific expenses associated with capital investments, technology acquisition, and working capital needs for project implementation.
- Capital expenses such as land, buildings, equipment, machinery, rolling stock, incorporation fees, and other similar acquisitions.
- Acquisition of technologies, software or software packages, patents, and other related expenditures excluding research and development activities.
- Working capital needs directly tied to the company's operations during the first year of operation. Additionally, companies over two years old may have eligible working capital needs if they are experiencing rapid growth, introducing new products, or aiming to improve productivity while maintaining existing employment.
grant_eligibility_criteria|zone
This grant is available to companies located within the territory served by Développement Économique Bellechasse (DÉB). Businesses in this region are supported to encourage local economic development and entrepreneurship.
- Territory served by Développement Économique Bellechasse (DÉB).
grant_single_labels|register
- Step 1: Obtain Grant Information
- Visit the Développement Économique Bellechasse website or contact their office to gather detailed information about the Fonds Local d'Investissement & Fonds Local de Solidarité.
- Review the objectives, eligible expenses, and nature of financial aid provided.
- Step 2: Verify Eligibility
- Ensure your business or project aligns with the eligibility criteria set by the program, focusing on areas such as project location, nature of expenses, and type of business activities.
- Step 3: Prepare Required Documentation
- Compile necessary documentation to support your application, which might include business plans, financial statements, projections, and proof of incorporation.
- Ensure documentation aligns with the financial aid format such as loans or capital investments.
- Step 4: Complete Application Form
- Fill out the official application form provided by Développement Économique Bellechasse, ensuring all information is accurate and complete.
- Step 5: Submit Application
- Submit your complete application package to Développement Économique Bellechasse according to their submission guidelines, which may include online, mail, or in-person options.
- Ensure submission is done before the deadline and that all required documents are included.
- Step 6: Confirmation and Follow-Up
- Await confirmation of receipt, which may come via email or postal mail.
- Prepare for potential follow-ups or requests for additional information from the grant administrators.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The financial assistance granted cannot be in the form of grants, interest holidays, principal holidays, sponsorships, or donations.
- Participation in a company's share capital cannot exceed 49% and must not exceed $100,000.
- A share buy-back clause must be in place allowing a profit at least equal to the Bank of Canada’s prime rate at the time of issuance.
- The buy-back of all shares must occur within five years, or within deadlines agreed upon in exceptional cases.
- Developing Economic Bellechasse (DÉB) reserves the right to sell the shares to a third party if the company cannot present an acceptable buy-back plan.
- Specific controls by DÉB regarding dividends, remuneration, and decisions affecting the company’s financial health must be accepted by the company.
- Loans must be repaid within a maximum of seven years after signing.
