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
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grant_card_status|open
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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|projects
This grant supports the realization of business projects, acquisition or creation of a first company, and relevant training for entrepreneurs. Eligible projects aim to encourage entrepreneurship and assist entrepreneurs in establishing their ventures.
- Feasibility or preparatory studies for creating an eligible business project.
- Diversification and introduction of new products and services in an existing business.
- Creation or acquisition of a first legally constituted business or becoming the majority owner of an existing business.
- Training relevant to the implementation of a business project for beneficiaries of financial contribution under the category of creating or acquiring a first business.
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 managed by Développement Économique Bellechasse (DÉB), which may imply a regional focus on Bellechasse, Québec. However, no explicit geographical restrictions are provided in the information given.
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%.
Apply to this program
Unlocking Opportunities for Young Entrepreneurs
The "Fonds nouveaux promoteurs" (FNP) grant offers non-interest financial support in the form of medium-term credits to young entrepreneurs looking to start or acquire their first business. Designed to foster entrepreneurship in Quebec, this initiative provides critical resources to young Canadians striving to build or expand their enterprises.
Detailed Insights into the "Fonds nouveaux promoteurs" Grant Program
The "Fonds nouveaux promoteurs" grant is a strategic initiative aimed at bolstering young entrepreneurship in Quebec, designed for individuals under the age of 40 who are either establishing or acquiring their first business. Recipients must comply with a set of comprehensive eligibility criteria, which include being a Canadian citizen or permanent resident of Quebec, possessing relevant experience or training for their project, and committing to full-time work in their new enterprise. This initiative not only targets the creation of personal employment but also supports projects that are instrumental to the economic ecosystem of the Bellechasse region.
Projects eligible for the FNP grant are categorized under three essential facets: realization of business projects, creation or acquisition of a first business, and entrepreneur training. The first facet supports the initial phases such as feasibility studies or preparatory studies necessary for establishing a robust business framework. It recognizes the importance of detailed planning and rewards projects with a well-structured business plan that forecasts viability over the initial two years of operation. Moreover, these projects should promise the creation of at least two permanent positions, underlining the grant's contribution to regional job creation.
Financially, the FNP grant covers up to 75% of eligible expenses for business project realization and 25% for starting or acquiring a first business, while ensuring that the applicant contributes a financial stake of at least 10% of eligible project costs. This requirement ensures the applicant’s commitment and risk-sharing in the venture, while the assistance itself is non-repayable and offered at zero interest, providing significant financial relief to young entrepreneurs tackling the challenges of new business ownership.
In addition to financial backing, eligible projects should show evidence of essential financial support as demonstrated by a commitment from a financial institution, which adds a layer of security and credibility to the application process. This aspect of the grant requires applicants to present a solid financial plan that not only secures the necessary capital but also indicates financial sustainability and growth potential.
The entrepreneur training aspect of the grant underscores the importance of continuous education and skill enhancement. For those receiving financial assistance under the creation or acquisition category, the grant allocates funds for entrepreneur training, with an emphasis on enhancing specific skills relevant to the business's needs. This facet is crucial for strategic growth and innovation, enabling entrepreneurs to adapt rapidly to market demands and technological advancements.
Ultimately, the FNP grant stands as a pivotal support mechanism to nurture upcoming young entrepreneurs and innovative business initiatives. It aligns with economic development goals by fostering new business ventures that not only spur growth but also ensure sustainable economic contributions to the region. This financial tool is a testament to Quebec's commitment to fostering a vibrant, resilient entrepreneurial ecosystem characterized by innovation, opportunity, and equitable growth.
