How much funding can be received?

The FLI/FLS Joint Investment Policy provides financial support for Quebec-based businesses to foster economic development and job preservation, with a maximum funding of up to $150,000 from FLI for eligible activities such as business startups, expansions, improvements, transitions, and acquisitions. Eligible projects must align with the economic sustainability and enhancement goals of the MRC, and funding is available to legally constituted for-profit, cooperative, and social economy businesses located in the MRC territory.

grant_single_labels|terms_and_conditions

The MRC Caniapiscau — Joint FLI/FLS investment offers adaptable financing modalities aimed at supporting various business projects within the MRC territory. These modalities are designed to accommodate diverse project needs while ensuring the prudent use of resources.

Investments are typically offered as term loans, with or without collateral, and may include options for revenue royalties or equity participation under specific conditions.
The maximum investment from the FLS in a single enterprise is set at $100,000, while the FLI investments cannot exceed 50% of qualified project expenditures, with particular allowances for social economy businesses.
The FLI can provide up to $150,000 to any single beneficiary within a twelve-month period, with a cumulative limit of $300,000 in outstanding repayable financial aids for any single business.
Interest rates are determined by a risk-based approach, incorporating factors like risk premium and loan term, and can be reduced with the provision of a first mortgage on tangible assets.
Capital repayments can be adjusted to the cash flow of businesses, especially in cases of succession and expansion projects, with a theoretical maximum repayment term of 10 years.
A maximum repayment moratorium of 12 months is available, with extended terms possible under certain project types for both FLS and FLI.
Early repayment of loans is allowed under specified conditions in the loan agreement.

grant_single_labels|projects

The MRC Caniapiscau Joint FLI/FLS investment grant supports a variety of business activities focused on starting, expanding, and enhancing company operations. Eligible projects must align with the goal of promoting sustainable economic development within the region.

Startup projects for companies in the commercialization phase.
Entrepreneurial succession projects acquiring significant equity in existing companies.
Business acquisition projects for existing companies or management buyouts.
Projects aimed at business improvement and transformation, including productivity and digital transformation.
Projects focused on business growth and expansion, including developing new products or services.
Temporary financing for short-term cash flow needs in anticipation of confirmed revenue sources.
Business turnaround and restructuring projects under certain conditions.

grant_single_labels|admissibility

Eligibility for this grant is determined by specific requirements related to the company's legal status, location, and operational focus.

Companies must be registered and legally constituted under the laws of the government of Québec or Canada.
Eligible entities include both for-profit enterprises and collective enterprises (such as cooperatives and non-profit organizations with merchant activities) as defined under the Social Economy Act.
The company must be operating within the territory of the MRC and have its head office located in Québec.
The company must be registered with the Québec Business Register (REQ).

grant_eligibility_criteria|who_can_apply

Eligible applicants for the FLI/FLS investment policy include legally constituted for-profit businesses under the laws of Quebec or Canada, as well as collective enterprises such as cooperatives and non-profit organizations as defined by the Social Economy Act. Additionally, businesses must operate within the MRC territory and have their headquarters in Quebec. They must be registered with the Quebec Business Registry (REQ).

grant_eligibility_criteria|who_cannot_apply

This grant excludes certain applicants based on their status or involvement in specific industries. These restrictions ensure alignment with the intended economic and social impact goals.

Applicants registered in the Register of enterprises ineligible for public contracts (RENA).
Entities with recent financial non-compliance with governmental directives.
State-owned enterprises or those indirectly controlled by any level of government.
Businesses under protection from bankruptcy or insolvency proceedings.
Companies with unethical practices potentially tarnishing the government's image.
Entities with poor environmental responsibility records.
Businesses with a history of violating labor standards or human rights legislation.
Industries involving armament production or distribution.
Companies engaged in fossil fuel-related activities, except those transitioning to low-carbon models.
Gambling and betting enterprises.
Businesses involved in activities like violent gaming or animal combat sports.
Enterprises in the sex industry, including erotic bars and escort agencies.
Real estate management and development activities, with some exceptions.
Businesses focused on tobacco or drug-related products, with specified exclusions for pharmaceutical-grade cannabis and industrial hemp.

grant_eligibility_criteria|eligible_expenses

The grant covers specific expenses related to the start-up, improvement, transformation, growth, and expansion of businesses, as well as entrepreneurial succession projects.

The need for additional working capital compared to current operating expenses, necessary for the realization of the project's business, for a maximum period of two (2) years corresponding to the year of project realization and the following year, and determined based on justified and reasonable expenses.
Capital expenditures strictly and directly related to the realization of the business project, such as the acquisition of technology, land, buildings, equipment, machinery, and rolling stock, as well as construction, expansion, renovation, and development of the land and premises.
Professional fees prior to the realization of the business project, such as feasibility analysis, external audit, or impact study.
Professional fees strictly and directly related to the realization of the business project, such as the implementation of technology, equipment, and machinery, as well as acquisition, construction, renovation, and development of land and premises.
Expenses for the acquisition of ownership titles of the targeted company (voting shares or units) and assets of the targeted company in the case of entrepreneurial succession projects.
Professional fees strictly and directly related to the transaction and acquisition of the company as well as the transfer of company management in entrepreneurial succession projects.

grant_eligibility_criteria|zone

This grant is available to companies operating within specific geographical areas as designated by the regional authorities. Eligible companies must have their base in these areas to align with the development objectives of their corresponding Municipal Regional County (MRC).

Businesses operating within the territory of the MRC Caniapiscau.
Companies with headquarters based in the province of Quebec, Canada.

grant_single_labels|criteria

The selection of projects for this grant focuses on specific investment criteria to ensure alignment with the economic, environmental, and operational sustainability goals.

Economic viability of the funded enterprise, ensuring profitability and repayment capability.
The knowledge and experience of the promoters, including relevant industry and management skills.
Environmental and societal impacts of the enterprise, emphasizing sustainable business practices.
Openness towards workers and labor relations approach.
Non-reliance on subcontracting or privatization of operations that would displace economic activities and jobs.
Involvement of other financial partners, such as financial institutions and promoter's equity.
Sustainability of the local funds, ensuring balanced portfolio management.

grant_single_labels|register

Here are the steps to submit an application for this grant:

Step 1: Determine Eligibility
Verify that your business is legally constituted under Quebec or Canadian laws and operates within the MRC territory.
Ensure your business is not part of the excluded categories, such as state-controlled enterprises or those in specified non-eligible industries.
Step 2: Prepare Required Documentation
Complete the financial assistance application form with accurate details.
Prepare a detailed business plan or project description meeting grant criteria.
Compile financial statements for the last three years and interim statements if over six months old.
Create projected financial statements to demonstrate future viability.
Gather any required certifications, such as francisation or equality in employment, if applicable.
Ensure the project aligns with MRC priorities and includes a detailed financial breakdown and funding sources.
Step 3: Submit the Application
Submit the application to the MRC once all required documents are compiled.
Ensure submission is within the application period and confirm that all documentation is complete and accurate.
Step 4: Application Review
The MRC will process and analyze the application for eligibility and completeness.
Await decision from the MRC and prepare for potential follow-ups or requests for additional information.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:

A committee named "CIC" (comité d’investissement commun) is responsible for managing and deciding on investment requests.
The CIC is authorized to request exemptions from the board of directors for deviations from the standard investment framework.
Modifications to policy require submission to both the MEIE and Fonds locaux de solidarité FTQ, s.e.c.
The investment strategy emphasizes the sustainability and balance of the funds.
Investments are typically made in the form of term loans and cannot be in the form of grants.
Legal expenses related to securing guarantees are borne by the promoters.

Apply to this program

Enhancing Economic Growth through Strategic Investment

The Politique d’investissement commune FLI/FLS is designed to fund enterprises that bolster the economic vitality of Quebec by supporting local businesses in development, expansion, and job creation. It stands as a crucial financial tool ensuring sustainable economic activities on the MRC territories, drawing on partnerships and shared investment between FLI and FLS.

Understanding the FLI/FLS Joint Investment Policy and Its Benefits

The Politique d’investissement commune FLI/FLS serves as a pivotal funding initiative within Quebec, strategically aimed at energizing local economies by investing in projects of substantial economic and social impact. Uniquely focused on fostering entrepreneurial spirit, this policy extends beyond mere financial assistance; it is committed to nurturing business ventures from inception through growth stages, supporting startups, expansions, and even transitions in business ownership. The dual fund approach, combining Fonds local d'investissement (FLI) and Fonds local de solidarité (FLS), enables flexible yet rigorous financial backing, where both funds typically operate in partnership, sharing the investment load according to pre-set agreements. However, adaptability is maintained by allowing exceptions, where either fund can independently shoulder more or all of an investment if need be, particularly when high-risk factors are involved.

This policy not only supports businesses with a focus on economic sustainability but also mandates environmental and societal dividends, propelling enterprises to adopt sustainable business practices that benefit their communities as well as the environment. Such progress is backed by strict criteria that ensure each funded enterprise shows robust economic viability, a competent management team, and a clear path to sustainable success. Additionally, it fosters inclusivity in the workplace and pledges not to promote off-shoring or subcontracting solely for cost-cutting local jobs.

Eligible enterprises under this policy include legally established for-profit entities in Quebec, as well as non-profit organizations classified under the social economy category. Crucially, these businesses must align with MRC's prioritized sectors and demonstrate a significant potential to boost regional development. This focus on social economy enterprises ensures that the policy is not just growth-centric but also integrates community-oriented goals that provide long-lasting socio-economic benefits. To discourage disproportionate reliance on funds and to maintain fiscal balance, the policy lays down stringent limits on investment amounts and stipulates investment ceilings based on project types and cost structures. Furthermore, the inclusion of diverse financial instruments such as term loans, and potential acquisition of capital or bonds, reflects the policy's broad-ranging support tailored to meet different enterprise needs.

The policy’s strategic framework incorporates rigorous risk assessments to determine the appropriate return rates and loan terms, ensuring financial prudence and sustainability. The partnership structure between FLI and FLS not only spreads financial risks but also enhances credibility, thereby attracting more investors and cooperative financial institutions to participate in funding. By adopting a cooperative approach, the policy maximizes resources and optimizes the economic inputs needed to sustain regional business environments.

Overall, the Politique d’investissement commune FLI/FLS stands out as an essential mechanism in Quebec’s economic development landscape. It fosters a resilient entrepreneurial climate, equips businesses to traverse the challenges of market volatility, and ensures that economic progress coincides with social responsibility. By leveraging local economic actors' strengths through structured yet flexible investment solutions, this policy supports Quebec's MRC territories in realizing their full economic potential.