MRC Bellechasse — New promoter funds (FNP)
QC, Canada
Interest-free financial aid for young Quebec entrepreneurs
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 Fonds nouveaux promoteurs (FNP) offers financial contributions in the form of interest-free medium-term credits to support young Canadian entrepreneurs in Quebec with the start-up or acquisition of their first business, providing a maximum of $10,000 in funding for eligible activities such as feasibility studies, business creation, and entrepreneur training. The program aims to foster entrepreneurship by assisting projects that demonstrate viability, job creation, and financial necessity.
grant_single_labels|terms_and_conditions
This grant offers financial contributions under specific conditions aimed at new promoters establishing or acquiring their first business. Each project type is supported by tailored financial assistance to foster entrepreneurship growth.
- Financial contributions are provided as interest-free medium-term credit, typically spanning 5 to 7 years.
- The aid is granted in the form of a credit without personal or real guarantees.
- For business projects (Concrétisation de Projet d’Entreprise), up to 75% of eligible expenses can be covered, with a maximum grant of $3,000 per project.
- For starting or acquiring a first business, financial assistance can cover up to 25% of eligible expenses, with a maximum of $7,500; this could be exceptionally increased to $10,000 for key projects aligning with strategic objectives.
- Where there are two eligible promoters, the maximum financial aid is $10,000, while three or more promoters can receive up to $12,000.
- For entrepreneurial training, financial assistance is capped at $1,000 over two years for one promoter, and up to $2,000 if more than one promoter is involved.
- Combined financial assistance from provincial, federal, and local bodies cannot exceed 50% of eligible expenses.
- The financial aid calculation considers non-repayable aid at 100% of its value, whereas repayable aid is assessed at 30%.
grant_single_labels|projects
This grant focuses on promoting entrepreneurship by supporting business creation and expansion as well as offering training to new entrepreneurs. Eligible projects under this program are designed to ensure viable business ventures that contribute to job creation and regional economic development.
- Feasibility study or other preparatory studies aimed at the creation of an enterprise.
- Studies for the diversification and introduction of new products and services for existing businesses.
- Startup or acquisition of a first legally constituted company by a young entrepreneur.
- Training that is relevant and necessary for the new entrepreneur to successfully execute the project.
grant_single_labels|admissibility
To be eligible for financial assistance from the FNP, projects must meet the following criteria:
- Be based on a business plan covering the first two years of operation, demonstrating good viability possibilities.
- Create at least two permanent jobs or the equivalent in person-years within two years following the start of the project.
- Be partially funded by a financial contribution from the promoter, equivalent to 10% of eligible expenses. Transfers of assets are considered eligible as a contribution.
- Demonstrate to the satisfaction of Développement Économique Bellechasse (DÉB) that the requested financial assistance is essential for the project's realization, considering the personal financial situation of the promoter(s).
- Receive support from a financial institution.
grant_eligibility_criteria|who_can_apply
Eligible applicants for the Fonds nouveaux promoteurs (FNP) must be Canadian citizens or permanent residents of Quebec aged between 18 and 40 years old. Alternatively, if over 40, it must be their first business start-up or acquisition. They need to have relevant experience or training for their project, be the majority owner of the enterprise they are creating or acquiring, and commit to working full-time in the business. Furthermore, the intent should be to create full-time employment for the promoter or support a project that benefits the business landscape of the region.
grant_eligibility_criteria|eligible_expenses
The grant covers expenses that support the execution and development of eligible projects.
- Professional fees, expertise fees, and other expenses for consultants or specialists required for feasibility studies or preparatory studies.
- Expenses for the design and manufacturing of prototypes.
- Capital expenditures such as land, buildings, equipment, machinery, rolling stock, incorporation fees, excluding goodwill expenses.
- The acquisition of technologies, software, or any similar expenses.
- Working capital needs related strictly to the business's activities calculated for the first year of operation.
- Registration fees, cost of instructional materials, and other fees required for participation in approved training activities for the entrepreneur.
grant_eligibility_criteria|zone
This grant is available to young entrepreneurs or first-time business acquirers residing in Québec as specified by the funding body, Développement Économique Bellechasse.
- Applicants must be residents of Québec.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Determine Eligibility
- Verify personal eligibility based on citizenship, age, residency, and business ownership criteria.
- Ensure the business project meets the required criteria, such as job creation and financial contribution.
- Step 2: Develop Business Plan
- Prepare a detailed business plan covering at least the first two years of operation.
- Include financial projections demonstrating the necessity for financial assistance.
- Step 3: Obtain Financial Support
- Secure backing from a financial institution for the business project.
- Prepare documentation to show personal and external financial contributions.
- Step 4: Gather Required Documents
- Collect all necessary documents such as proof of citizenship, residency, ownership, and business plan.
- Include estimates for eligible expenditures and financial forecasts.
- Step 5: Submit Application
- Complete the official application form provided by Développement Économique Bellechasse (DÉB).
- Submit the application package to the designated contact at DÉB.
- Ensure the application is submitted before any related expenses are incurred.
- Step 6: Confirmation and Follow-up
- Await confirmation of receipt from Développement Économique Bellechasse (DÉB).
- Follow up if confirmation is not received within a reasonable timeframe.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The financial contribution is interest-free or at zero percent interest rate.
- The financial contribution is a medium-term credit, generally between 5 to 7 years, and is granted without personal or real guarantees.
- A single financial assistance can be granted to a candidate or their business throughout the entire program duration.
- Combined financial assistance from provincial and federal governments along with Développement Économique Bellechasse (DÉB) must not exceed fifty percent (50%) of eligible expenses.
- A non-repayable aid is considered at 100% of its value, while a repayable aid is considered at 30%.
