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|grantStatusClosed
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 FLI/FLS investment policy enables support for a wide range of business activities. Eligible projects include those aimed at fostering growth, acquisition, and improvement within businesses located in the MRC des Chenaux.
- Démarrage (Startup): Supporting businesses from the beginning of their commercialization phase until they achieve profitability.
- Relève entrepreneuriale (Business Succession): Financing individuals or groups aiming to acquire significant ownership and leadership in an existing business.
- Acquisition d’entreprise (Business Acquisition): Funding the purchase of an existing business's assets or shares.
- Amélioration et transformation d’entreprise (Business Improvement and Transformation): Projects that improve productivity or digital transformation with sustainable practices.
- Croissance et expansion d’entreprise (Business Growth and Expansion): Supporting business growth through new products, services, or market expansion, including export projects.
- Financement temporaire (Temporary Financing): Short-term loans until a confirmed revenue source materializes.
- Redressement (Business Turnaround): Assisting companies in crisis with a strong management team, provided their market is stable and they have a recovery plan.
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 exclusively to businesses that operate within the specific region of the MRC des Chenaux as dictated by the guidelines set by the local funding authorities. Eligible businesses must have their operations within this region to qualify for funding.
- Companies located within the territory of the MRC des Chenaux.
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.
Apply to this program
Unlock Economic Growth with FLI and FLS Grants
The Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) grant program, administered by the MRC des Chenaux, is designed to bolster economic development across the region by supporting businesses and their initiatives. This investment policy fosters entrepreneurial spirit and economic vitality through targeted financial aid and guidance.
Detailed Insights into the FLI and FLS Grant Program
The FLI and FLS grant program, established under the governance of the MRC des Chenaux, is a robust financial framework aiming to stimulate economic activities within the MRC territory. The policy aims to enhance business stability, expansion, and innovation by providing essential financial support and technical guidance through these local funds. The FLI and FLS grants target multiple facets of business development, from fostering startups to supporting business expansion and encouraging the transmission of enterprises through succession. These initiatives are crucial in ensuring the continued economic growth and employment generation within the region.
The grants are structured to accommodate various business needs, offering flexibility in financing. They are available for early-stage ventures needing a boost to reach profitability, businesses seeking to adopt new technologies, and firms planning expansion or acquisition strategies. Specifically, they target projects that demonstrate economic viability, substantial promoter expertise, positive environmental and societal impacts, and openness to constructive workforce relations.
One significant advantage of the FLI and FLS grant program is its cooperative framework. Investments are made within a collaborative setup between the FLI and FLS, often pooled together to create a singular impactful financial intervention. This strategy is intended to maximize the reach and effectiveness of the funds, ensuring that funded projects align with the strategic economic goals of the MRC.
The program underscores the importance of creating a supportive ecosystem for businesses, leveraging local government and finance sector collaborations to boost company resourcefulness and innovation. By encouraging co-investment from other financial institutions and stakeholders, the grant aids in drawing additional resources into the region, hence enhancing the overall funding available to high-potential projects.
Moreover, the flexibility of this grant system allows selected businesses to benefit from various investment types, including term loans and participative financing, that can be customized to meet the specifics of project demands and business realities. This ensures that enterprises not only receive financial backing but also align with broader MRC and FTQ objectives for sustainable economic development.
The FLI and FLS policy enforces prudent financial management, requiring clear project viability and consistent financial forecasting. This accountability helps to secure the long-term sustainability of the funds and their continued relevance in economic development strategies. Beneficiaries of these funds must adhere to rigorous criteria meant to maintain the integrity and impact of the program.
In essence, the FLI and FLS grants are more than just financial instruments; they are strategic enablers crafted to empower local businesses to thrive, transform, and lead in creating a robust economic landscape in the MRC des Chenaux. By applying for these grants, companies contribute to a dynamic and sustainable economic future for the region, fostering a conducive environment for innovation and development.
