MRC des Chenaux — Local Investment Fund (FLI) and Solidarity Fund (FLS)

Who is eligible?

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.

Who is not eligible

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.

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.

Eligible geographic areas

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.

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.