MRC Bécancour - Local Investment Fund (FLI) - “General” component
QC, Canada
Investment loans for new, developing, or acquiring businesses
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Manufacturing
- Retail trade
- Accommodation and food services
- Other services (except public administration)
- Public administration
grant_single|grantors
- MRC Bécancour
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds local d’investissement (FLI) - volet "général" provides term loans ranging from $5,000 to $75,000 to support new, developing, or acquiring businesses in the manufacturing, agri-food, tourism, commercial, and service sectors in Quebec. The program aims to cover working capital needs for the first year of operation or following development projects, requiring financial forecasts, a marketing plan, and a 10% project cost investment.
grant_single_labels|terms_and_conditions
This local investment fund offers strategic financing solutions tailored to support emerging businesses in specific sectors. The provided loan terms facilitate business growth and are designed to complement other financial assistance.
- Term loan ranging from $5,000 to $75,000.
- Maximum loan duration of 84 months.
- Loans require complementary funding from other financial partners or government entities.
- A promoter's contribution of at least 10% of the project cost is mandatory.
- Eligible funds cover working capital needs for the first year of operation and additional needs for development projects.
grant_single_labels|projects
The Local Investment Fund (FLI) "General" component offers financial support for projects across a diverse range of industries. Eligible initiatives are geared towards the growth and development of new or existing businesses.
- Financing for startup enterprises to cover initial operational costs.
- Support for developing businesses requiring additional working capital.
- Funding for business acquisitions aimed at expansion and increased market presence.
- Facilitating projects in the manufacturing, commercial, service, agro-food, and tourism sectors.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the financial projections, registration status, and project funding of the applicant.
- The company must provide financial forecasts that demonstrate profitability.
- The company must have a marketing plan in place.
- The company must be registered in the Registre des entreprises du Québec (REQ).
- The company must provide a contribution of 10% of the project cost as a down payment.
grant_eligibility_criteria|who_can_apply
This grant is designed to support new businesses, developing businesses, and businesses seeking acquisition across various sectors.- Financial forecasts demonstrating profitability.- A marketing plan.- The business must be registered with the Quebec Enterprise Register (REQ).- A minimum personal investment of 10% of the project cost.- Available for sectors including manufacturing, agri-food, tourism, commercial, and service industries, excluding primary agriculture and general construction contractors.- The loan serves as a complementary financial assistance alongside other financial partners.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain companies and industries based on their primary sector of activity. The restrictions ensure that funding is allocated to strategic industries that align with economic development goals.
- Businesses involved in primary agricultural activities.
- General construction contractors.
grant_eligibility_criteria|eligible_expenses
The grant is designated to cover specific working capital needs related to the operation and growth of the business in its first year.
- Working capital needs concerning business operations for the first year of operation.
- Additional working capital needs calculated for the first year following a development project.
grant_eligibility_criteria|zone
This grant is specific to companies within a particular area in Quebec. The eligible locations are tailored to promote local economic growth.
- Businesses registered and operating in the MRC Bécancour region in Quebec.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Verify Eligibility
- Ensure your business operates in an eligible sector such as manufacturing, agri-food, tourism, commercial, or service.
- Confirm that your business is registered with the Quebec Enterprise Registrar (REQ).
- Ensure you have a financial forecast demonstrating profitability and a marketing plan.
- Prepare a 10% equity contribution towards your project costs.
- Step 2: Prepare Required Documentation
- Draft a detailed project proposal outlining the objectives, expected outcomes, and required funding.
- Prepare financial statements and forecasts that demonstrate the financial viability of your business.
- Compile documents detailing your marketing strategy and the market need for your project.
- Step 3: Partner Engagement
- Engage with potential financial partners, such as financial institutions or government organizations, to secure complementary funding.
- Obtain letters of support or commitment from these partners.
- Step 4: Submit Application
- Prepare and complete the application form with all necessary information and documents.
- Submit your application directly to the grant provider, following their specified procedures.
- Step 5: Confirmation of Submission
- Ensure you receive a confirmation of receipt from the grant provider.
- Retain records of your submission for future reference.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The loan must be complemented by other financial partners, such as financial institutions or governmental organizations.
- Applicants must provide a financial forecast demonstrating profitability to be eligible for the loan.
- The loan is available to complement a promoter's personal investment in the project.
- The business must be registered in the Quebec Enterprise Register (REQ).
- A personal investment of 10% of the project cost is required from the promoter.
Apply to this program
Unlocking Business Growth with the Local Investment Fund
The Local Investment Fund (FLI) provides essential financial support ranging from $5,000 to $75,000 to new, developing, and prospective businesses. This initiative is tailored to cater to diverse sectors, including manufacturing, agribusiness, tourism, commercial, and services to stimulate economic growth and development.
Comprehensive Overview of the Local Investment Fund and Its Benefits
The Local Investment Fund (FLI) "general" component serves as a significant financial tool, primarily targeting businesses that are in their nascent stages, in the process of development, or in the transition of ownership. By offering loans varying from $5,000 to $75,000, the FLI empowers entrepreneurs and business owners to actualize their business visions while meeting specific financial needs associated with various operational phases. Notably, it prioritizes non-primary agricultural sectors, along with those in manufacturing, tourism, commercial, and service industries.Business ventures seeking to leverage this fund should be registered under the Quebec Enterprises Register (REQ), emphasizing the importance of compliance and operational legitimacy. Further, to ensure financial prudence and project viability, applicants are required to demonstrate sound financial projections that reflect potential profitability and to contribute a minimum of 10% of the project’s total cost as a show of commitment and risk-sharing.The loan structure provides a term spread over a maximum duration of 84 months, offering flexibility and enabling businesses to maintain operational liquidity without undue financial strain. Importantly, the FLI is structured as supplementary financial assistance, necessitating cooperative financing arrangements with other financial entities and partners, such as government bodies and financial institutions. This collaborative financial model not only nurtures a network of shared fiscal responsibility but also expands the funding horizon for the involved enterprises.Eligible expenses under the FLI primarily cater to working capital needs that are integral to sustaining initial operational activities and expansion initiatives during the first year. This strategic allocation underscores the fund's role in ensuring businesses can stabilize their financial foundation and manage cash flows effectively during critical growth phases.The Local Investment Fund aspires to bolster regional economic platforms by focusing on sectors that are pivotal to local and national economic landscapes. By channeling financial resources into these industries, FLI promotes not only entrepreneurial endeavors but also sectoral innovation and competitiveness. Such initiatives stand to elevate market standards, enhance service delivery, and broaden job opportunities—culminating in socioeconomic advancements that resonate beyond immediate business gains.Ultimately, participation in the FLI program signifies a commitment to regional economic empowerment and innovation. It sets the stage for businesses to pivot towards long-term sustainability and resilience in a dynamic economic environment. For entrepreneurs and business owners, this means securing an opportunity not just for growth, but for invaluable contributions to the Canadian economic narrative and community wellbeing.
