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
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- 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
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grant_card_status|open
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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|projects
This financial aid supports entrepreneurial activities within the Bellechasse territory, focusing on business growth and economic development. Eligible projects include initiatives focused on starting, expanding, or acquiring businesses, thereby fostering employment and sustainable business practices.
- Business start-up initiatives.
- Expansion projects for existing businesses.
- Acquisition of existing businesses.
- Support for social economy enterprises in similar projects.
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 specifically oriented towards projects located within the geographical boundaries served by Développement Économique Bellechasse. The eligibility is focused on supporting entrepreneurship within this regional zone.
- 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.
Apply to this program
Financial Support for Bellechasse Entrepreneurs
This grant is designed to provide financial assistance to private enterprises and social economy businesses within the Bellechasse region. It aims to facilitate business creation, expansion, and operational stability, thereby boosting local economic development.
Detailed Overview of the Financial Assistance and Support Mechanisms
The MRC de Bellechasse, through Développement Économique Bellechasse (DÉB), offers a comprehensive financial assistance program to bolster business ventures in the region. This initiative, manifested through the Fonds Local d'Investissement (FLI) and Fonds Local de Solidarité (FLS), offers repayable contributions – essentially loans – to burgeoning and existing enterprises, as well as projects poised within the social economy sector. These local funds are designed as financial instruments that accelerate the fruition of business initiatives, fostering a robust entrepreneurial spirit across the territory.
Focused objectives of these funds include not only the genesis of new enterprises but also the expansion and consolidation of existing ones. This support extends to facilitating acquisitions and ensuring business continuity by assisting with succession. Furthermore, these financial tools are instrumental in fostering economic resilience by encouraging job creation and sustaining employment levels within Bellechasse, thereby contributing significantly to local economic vibrancy.
Eligible expenses under this scheme encompass a range of pivotal capital requirements such as land acquisition, construction, machinery, and technology procurements like software and patents. These targeted investments underscore the grant's emphasis on creating tangible assets that lay the groundwork for operational success and technological advancement. Additionally, the program caters to working capital needs, specifically for businesses experiencing rapid growth or entering new markets, thereby allowing them to manage client accounts and inventories effectively.
The nature of the financial aid extends beyond conventional loan provision. The FLI allows for varied financial interventions – including guarantees and equity participation while deliberately excluding grants or tax waivers, maintaining a focus on sustainable financial accountability and growth. A distinctive feature of this assistance is the participation in capital actions, albeit with a self-regulated limit of 49% and a maximum threshold of $100,000, enabling a strategic financial uplift while safeguarding equitable business ownership.
This structured approach ensures that Développement Économique Bellechasse not only supports ventures financially but also engages in governance oversight, promoting financial transparency and operational prudence. By providing this dual approach of financial and strategic support, the grant aligns the immediate financial exigencies of businesses with their long-term objectives, thus enhancing the economic fabric of the Bellechasse region.
The repayment terms are accommodating yet disciplined, with a maximum repayment tenure of seven years. This grants businesses the financial breathing space required to stabilize and grow before full repayment is required. Through this financial mechanism, the MRC de Bellechasse not only aims to invigorate the local economy but to also ensure that supported projects have a lasting, positive impact.
Ultimately, the MRC de Bellechasse's financial assistance program is a pivotal element in nurturing a thriving, sustainable economic environment. By supporting businesses in crucial phases of their lifecycle, the program significantly enhances the region's competitive edge, encouraging innovation, and strengthening the economic infrastructure of Bellechasse.
