MRC Caniapiscau — Joint FLI/FLS investment

Who is eligible?

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).

Who is not eligible

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.

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.

Eligible geographic areas

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.

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.

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.

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.