MRC Domaine-du-Roy — Local Innovation and Growth Fund
QC, Canada
Fonds offers growth loans for innovative business development
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grant_single|eligibleFinancing
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- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
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- MRC Domaine-du-Roy
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grant_card_status|open
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The grant provides financial assistance in the form of guaranteed and non-guaranteed loans, with a maximum funding amount of $50,000 per project, to support businesses with high growth and innovation potential, particularly within the Domaine-du-Roy and industry forestière sectors. The program's purpose is to foster economic diversification, job creation, and consolidation by supporting projects with significant community benefits and sustainability focus.
grant_single_labels|projects
This grant is intended to support projects that demonstrate strong potential for economic growth and innovation within specified sectors. Eligible projects should contribute to diversifying and strengthening the economic landscape of the territorial area through impactful activities.
- Implementation of projects that diversify the local economic offerings in the Domaine-du-Roy area.
- Projects that aim to create new jobs or consolidate existing employment within the territory.
- Development of projects with structural effects in priority sectors as established by the MRC action plan.
- Projects that are a part of a value chain creating substantial local benefits and job opportunities in the MRC territory.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements outlined to ensure alignment with the fund's mission and objectives.
- The business must have a major project that is economically viable and deemed eligible by the fund.
- The project needs to have a structuring effect on the territory and fit within a value chain, with benefits and job creation or maintenance primarily occurring in the MRC's territory.
- It must be in a priority sector established in the action plan set by the MRC.
- The business must agree to the loan modalities, including the commitment to use the funds solely for the project described in the application.
- They must demonstrate responsible behavior, notably concerning sustainable development.
- The business must comply with government standards related to labor, health and safety, environmental protection, and human rights.
- The business must allow the fund to disclose that financing was granted.
- If funding is limited, preference will be given to businesses employing innovative management and production strategies or those notably committed to sustainable development and environmental protection.
- Projects that provide significant benefits to the MRC community are favored.
- Businesses should be in sectors such as structural component manufacturing, non-structural and appearance component manufacturing, silviculture, and forest biomass recovery.
grant_eligibility_criteria|who_can_apply
This grant is available to private companies, social economy enterprises, and cooperatives seeking financial assistance in the form of loans for the development of projects with high potential on the territory of Domaine-du-Roy.
grant_eligibility_criteria|who_cannot_apply
Certain companies and projects are not eligible for this grant based on their status or potential conflicts. These restrictions ensure that funds are allocated to eligible and appropriate businesses that align with the grant's mission and objectives.
- Government bodies (federal, provincial, municipal) including Crown corporations and their affiliates.
- Companies involved in projects leading to conflicts of interest with the fund's decision-making or its representatives.
- Entities proposing projects focused on feasibility studies or ordinary operational expenses.
- Projects related to the acquisition of rolling stock or equipment.
grant_eligibility_criteria|eligible_expenses
The grant specifies certain restrictions but does not elaborate explicitly on the eligible expenses in detail.
grant_eligibility_criteria|zone
This grant is specifically available to companies operating within the territory of the MRC Domaine-du-Roy, which aligns with the fund's regional objectives for economic and community development.
- Enterprises within the MRC Domaine-du-Roy.
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- Step 1: Preliminary Assessment
- Review the eligibility criteria to confirm your project qualifies for the grant based on the mission and objectives.
- Ensure the project contributes to the development of the Domaine-du-Roy territory and aligns with a prioritized sector by the MRC.
- Step 2: Prepare Application
- Develop a comprehensive project proposal demonstrating economic viability, innovation, and substantial benefits to the MRC community.
- Prepare financial documentation, including a project budget detailing total costs and funding sources.
- Ensure the proposal includes an implementation plan discussing job creation or consolidation.
- Step 3: Secure Complementary Funding
- Explore and secure matching financial sources, such as a FLI loan, to meet the requirement of matching funds equal to the grant amount.
- Step 4: Submission of Application
- Compile all necessary documents, including the proposal, budget, evidence of matching funds, and proof of personal or collateral guarantee for private enterprises.
- Submit the complete application package to the Fonds Local d’Innovation et Croissance committee as per their instructions. Contact details or submission portal specifics are not provided in the context.
- Step 5: Await Feedback
- Wait for confirmation from the committee regarding the acceptance and review of your application.
- Be prepared to provide additional information or documentation if requested by the fund administrators.
grant_single_labels|otherInfo
Here are additional relevant details for the FONDS LOCAL D’INNOVATION ET CROISSANCE and FONDS DE DÉVELOPPEMENT DE L’INDUSTRIE FORESTIÈRE (FONDS RÉSOLU) grants:
- The loan must be combined with a matching FLI loan of an equivalent amount for the FONDS LOCAL D’INNOVATION ET CROISSANCE.
- A moratorium of two years on repayment of capital and interest is provided for the FONDS LOCAL D’INNOVATION ET CROISSANCE.
- The FONDS LOCAL D’INNOVATION ET CROISSANCE requires personal or joint guarantees or mortgages as security for the loans.
- Loans from the FONDS DE DÉVELOPPEMENT DE L’INDUSTRIE FORESTIÈRE (FONDS RÉSOLU) are non-guaranteed and tailored on a case-by-case basis for repayment terms and interest rates.
- A management fee equal to 5% of the invested funds is set aside for administrative management under the FONDS LOCAL D’INNOVATION ET CROISSANCE.
- Both funds utilize a risk premium added to a base interest rate to calculate total interest, which varies depending on the assessed risk level.
Apply to this program
An Opportunity for Financial Growth and Innovation
The Fonds Local d’Innovation et Croissance offers financial assistance in the form of guaranteed loans for high-potential businesses, enabling opportunities for growth and innovation, and supporting projects that contribute to the development of new commercial sectors. Aimed at diversifying offerings within the Domaine-du-Roy region, this grant also seeks to stimulate job creation and strengthen current employment.
Understanding the Impact and Opportunities of the Fonds Local d’Innovation et Croissance
The Fonds Local d’Innovation et Croissance is a pivotal financial tool designed to support the economic landscape of the Domaine-du-Roy by funding enterprises with promising potential. This fund plays a crucial role in fostering innovation and providing companies with the necessary resources to execute projects that align with the regional economic goals. With a mission focused on enhancing growth opportunities and pioneering new industries, the fund not only aids in the diversification of the local market but also fortifies employment stability in the area.
The structure of this financial assistance comes in the form of loans that are matched with FLI loans, with amounts up to $50,000. The loan mechanisms incorporate a grace period of two years for repayment of both principal and interest, which allows enterprises to gain a foothold and invest resources in the preliminary stages of project development. The requirement of co-financing through a personal or collective guarantee ensures sustainability and commitment from project leaders while offering flexibility because the loans are structured over a period of up to seven years. This combination of financial support and operational patience empowers businesses to innovate without the immediate financial burden.
The fund targets a wide array of eligible businesses, including private companies, social enterprises, and cooperatives, opening the gateway for diverse business types to benefit and contribute to the regional economic fabric. By mandating that initiatives must result in significant local impacts—such as employment creation or sector diversification—this financial instrument emphasizes projects of strategic significance, ensuring that the supported businesses are in prime alignment with the strategic focus areas identified by the MRC.
For businesses interested in applying, it is crucial to present projects that not only demonstrate an innovative and viable financial model but also exhibit a transformative effect on the region's economic landscape. The emphasis is on projects with a minimum investment of $500,000 that have a clear structuring effect on local supply chains or industry niches. Such initiatives are expected to operate within the priority sectors as outlined by the local action plans, reinforcing the territory's strategic economic development objectives.
Additionally, enterprises that can illustrate supplementary advantages, such as integrating sustainable practices and contributing positively to the local community, are given preference. This reflects a broader objective of the fund, which is to not only boost economic progress but to do so in a way that is environmentally and socially responsible. Furthermore, the fund remains versatile, making provisions for businesses that might utilize other available funding, allowing for comprehensive financial strategies that maximize viability and impact.
Overall, the Fonds Local d’Innovation et Croissance serves as a vital catalyst for economic amplification and sectorial innovation within the Domaine-du-Roy region. Providing designated financial resources as well as encouraging strategic projects with robust job creation goals, this fund exemplifies targeted investment in fostering sustainable regional development. By aligning funding objectives with the economic agenda of the MRC, this initiative is proactively establishing a foundation for a diverse, innovative, and resilient economic future in the region.
