MRC Bellechasse — New promoter funds (FNP)

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.

Who is eligible?

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.

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.

Eligible geographic areas

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.

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%.