MRC des Chenaux — Local Investment Fund (FLI) and Solidarity Fund (FLS)
QC, Canada
Investment policy for supporting Quebec's economic development
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateSeptember 20, 2023
- grant_single|closingDateSeptember 20, 2023
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Manufacturing
- Arts, entertainment and recreation
grant_single|grantors
- MRC des Chenaux
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) in the MRC des Chenaux aim to support businesses with economic impact in Quebec through funding for start-ups, business succession, acquisitions, improvements, and expansions, offering up to $150,000 from the FLI and up to $100,000 from the FLS. Eligible activities include the start-up phase, entrepreneurial succession, business acquisition, improvement and transformation projects, business growth and expansion, and temporary financing.
grant_single_labels|projects
The Local Investment Fund (FLI) and the Solidarity Fund (FLS) focus on supporting various business ventures in the Quebec region. These funds are intended to finance projects promoting company initiation, growth, and sustainability through structured financial support.
- Démarrage: Funding for businesses in the early commercial phase until reaching profitability.
- Relève entrepreneuriale: Financial support for individuals or groups acquiring a significant portion (at least 25%) of an existing business.
- Acquisition d’entreprise: Financing for companies acquiring assets or shares of another business.
- Amélioration et transformation d’entreprise: Funding of projects aimed at improving productivity and implementing sustainable business practices.
- Croissance et expansion d’entreprise: Support for existing businesses expanding their market reach or operations.
- Financement temporaire: Temporary loans in anticipation of confirmed revenue sources.
- Redressement: Support for restructuring businesses that are experiencing non-critical financial challenges.
- Projets de prédémarrage (excluded): Only businesses in the commercialization phase are eligible.
grant_single_labels|admissibility
To be eligible for this grant, companies must meet the following criteria based on their legal status, location, and operational activities.
- Companies must be legally incorporated under the laws of Quebec or Canada.
- They must operate for profit or be collective enterprises (cooperatives and non-profit organizations) under the Social Economy Act with commercial activities.
- The company must operate on the territory of the MRC and have its head office in Quebec.
- The company must be registered in the Quebec Enterprise Register.
grant_eligibility_criteria|who_can_apply
Eligible applicants for the Fonds local d'investissement (FLI) and Fonds local de solidarité (FLS) in the MRC des Chenaux include for-profit businesses legally incorporated under the laws of Quebec or Canada, as well as collective enterprises such as cooperatives and non-profit organizations (OBNL) that engage in commercial activities. To qualify, the enterprises must operate within the territory of the MRC and have their headquarters in Quebec. Additionally, they must be registered with the Registre des entreprises du Québec. Certain conditions specific to social economy enterprises also apply, as detailed in Annex A, although the FLI can invest independently in cases where these conditions are not met.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain companies and industries due to their status or main activity. The restrictions aim to ensure that funds are directed toward sectors that align with the ethical and regulatory frameworks established by the funding bodies.
- Companies registered in the RENA (Registre des entreprises non admissibles aux contrats publics) or their subcontractors listed in RENA.
- Companies that have failed to meet their obligations in past financial assistance agreements within two years prior to the application.
- State-owned enterprises or companies controlled directly or indirectly by a government.
- Companies under the protection of bankruptcy or insolvency laws.
- Companies with ethical behavior issues that could harm the integrity or image of the government or municipality.
- Companies with non-responsible environmental practices under applicable legislation.
- Companies with a history of violating labor standards or human rights legislation.
- Companies involved in the production or distribution of armaments, or those related to fossil fuel production except for sustainable transition projects.
- Companies involved in gambling or betting industries, such as casinos and bingo halls.
- Companies engaging in violent games or sports, or those exploiting live creatures for combat or similar activities.
- Companies involved in sexual exploitation, such as erotic clubs or agencies.
- Companies focusing on real estate management or development.
- Enterprises in the tobacco or drug production and sales sectors.
- Retail or personal service businesses, except in specified exceptional cases with proven market need.
- Businesses of a sexual, religious, or political nature, or those within controversial sectors like astrology or armament.
grant_eligibility_criteria|eligible_expenses
The grant covers expenses related to the start-up, improvement, growth, and entrepreneurial succession of businesses.
- Additional working capital needs over existing operating expenses, necessary for the execution of the company's project for a maximum period of two (2) years.
- Capital expenditures directly related to the project such as the acquisition of technology, land, buildings, equipment, machinery, and rolling stock, as well as construction, expansion, renovation, land, and premises development.
- Professional fees necessary before the realization of the company's project, such as feasibility analysis, external audit, or impact study.
- Professional fees directly related to the implementation of the company's project, such as technology, equipment, and machinery implementation, as well as acquisition, construction, renovation, and development of land and premises.
- Acquisition costs of the company's ownership interests (voting shares or units) and assets for entrepreneurial succession projects.
- Professional fees directly related to the transaction and acquisition of the business, as well as the transfer of the company's management.
grant_eligibility_criteria|zone
This grant is available to companies located within a specific geographical region. Eligible companies must have their operations on the territory of the MRC des Chenaux.
- Companies operating within the MRC des Chenaux region.
grant_single_labels|criteria
The evaluation and selection of projects for the Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) grant are guided by specific criteria to ensure the viability and impactful nature of supported enterprises.
- Economic viability of the financed enterprise, demonstrated by the permanence of profitability, repayment capacity, and promising forecasts.
- Knowledge and experience of the promoters in their respective fields and in management capabilities.
- Environmental and societal impacts, focusing on sustainable business practices that improve socio-economic and environmental conditions.
- Openness towards workers and the company's approach to labor relations.
- Ensuring that projects do not solely focus on subcontracting or privatizing operations that would result in simply transferring economic activities and jobs.
- Involvement of financial partners, such as financial institutions or the promoters' own investments, is highly desirable.
- Sustaining the funds' auto-financing by analyzing the impact on the funds' portfolio balance for potential investment opportunities.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Prepare the Application
- Complete the financial aid request form with all required details.
- Prepare a detailed business plan or project description, as requested.
- Include a detailed breakdown of project expenses.
- Compile a financial package for the project, confirming all other financial aid or funding connected to the project.
- Provide financial statements for the past three years, or interim statements if the former are older than six months or if the business is less than a year old.
- Prepare financial forecasts for the business.
- Include a declaration of compliance regarding francization or a copy of the francization certificate, if applicable.
- Attach a declaration of compliance regarding employment equity or a copy of the Employment Equity Access Program, if applicable.
- Include any other documents required by the MRC.
- Step 2: Submit the Application
- Ensure all information and documents required are compiled for submission.
- Submit the completed application and supporting documents to the MRC des Chenaux using the prescribed submission method.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Interest payments are mandatory on a monthly basis even if a capital repayment moratorium is in place.
- The Fonds local de solidarité (FLS) does not fund specific assets but rather supports investment projects as a whole.
- The MRC has the authority to refuse financial aid if an applicant fails to meet high integrity requirements expected from publicly funded beneficiaries.
- Pre-startup projects are excluded under the investment policy; only enterprises at the commercialization stage are eligible.
- Recovery of funds will involve all necessary legal mechanisms if obligations are not met by the borrower.
- Any modifications in the policy must be submitted to the Ministry and FLS-FTQ for approval, ensuring they don't compromise the joint investment and profitability mandates.
