How much funding can be received?

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|terms_and_conditions

This grant provides financial support in the form of secured loans to eligible businesses, aiming to promote innovation and growth. The conditions ensure that the funds are utilized effectively to achieve the desired development outcomes.

Loans are secured and cannot exceed $50,000 per business.
The loan must be combined with a Fund for Local Initiatives (FLI) loan for an amount equal to the granted sum.
The loan amortization period must not exceed seven years, including an initial two-year moratorium on principal and interest payments.
Loans must be guaranteed by a personal or joint guarantee deemed necessary by the MRC or by a mortgage.
For private enterprises, the financial aid granted cannot exceed 50% of the total cost of the supported project.
The interest rate is calculated with a base rate of 2%, plus a risk and amortization premium based on the project's risk level.

grant_single_labels|projects

The Local Innovation and Growth Fund is designed to financially assist projects that have a substantial impact on the Domaine-du-Roy region's economic landscape. It targets major investments with a focus on innovation and development of new sectors.

Major innovative projects with a minimum investment of $500,000 that contribute to new sector development.
Projects that diversify the region's offerings and have significant potential for job creation or consolidation.
Initiatives with a structural impact on the local area, aligned with the MRC's action plan priorities.

grant_single|admissibleProjectsExample

$ 50,000

Expansion of value-added wood processing facility

$ 50,000

Development of eco-friendly timber harvesting machinery

$ 50,000

Installation of a renewable energy biomass heating system

$ 50,000

Research and development of forest biomass recovery technology

$ 50,000

Creation of a cooperative for local forest product marketing

$ 50,000

Implementation of silviculture training for sustainable forestry

grant_single_labels|admissibility

Eligibility for this grant is determined by specific requirements related to the applicant's profile and proposed projects.

The applicant must be a private enterprise, social economy business, or cooperative.
The project must be major, economically viable, and innovative, with an investment of at least $500,000.
The project must have a significant impact on the territory of Domaine-du-Roy and align with the regional action plan's prioritized sectors.
The applicant must accept the loan's terms, including using funds solely for the project and adhering to sustainability practices and governmental regulations in areas like labor, health, safety, environment, and human rights.

grant_eligibility_criteria|who_can_apply

The MRC Domaine-du-Roy Local Innovation and Growth Fund is accessible to private businesses, social economy enterprises, and cooperatives looking to pursue financially viable and innovative projects within the specified territory. Applicants must demonstrate that their projects have a major impact, both economically and structurally, within the Domaine-du-Roy area, adhere to local development priorities, and commit to sustainable and responsible practices, as stipulated by the fund's criteria.

grant_eligibility_criteria|who_cannot_apply

Certain companies and industries are not eligible for the MRC Domaine-du-Roy Local Innovation and Growth Fund due to specific restrictions. These exclusions help ensure the funds are utilized for projects aligning with economic and community growth objectives.

Government entities at the federal, provincial, or municipal levels, including Crown corporations and those affiliated with them.
Companies where personal or business relationships may cause a conflict or the appearance of conflict in funding decisions.
Projects related to feasibility studies, covering routine operational expenses, or the acquisition of rolling stock.

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

The grant is specifically intended for businesses operating within the territory of the MRC Domaine-du-Roy in Canada, supporting regional projects that contribute to local economic development.

Companies located within the Domaine-du-Roy region.

grant_single_labels|criteria

The evaluation and selection of projects under the MRC Domaine-du-Roy Local Innovation and Growth Fund grant revolve around their potential for economic viability, innovation, and community impact, although no specific point scores are mentioned.

Economic viability and major nature of the project, with a minimum investment of $500,000.
Innovative character of the project.
Structuring effect for the territory, aligning with priority sectors established in the MRC's action plan.
Responsible behavior in terms of sustainable development.
Contribution to the creation or consolidation of jobs within the MRC territory.
Utilization of innovative management and production strategies.
Significant community benefits presented by the project.
Availability of other sources of funding.

grant_single_labels|register

Here are the steps to submit an application for this grant:

Step 1: Check Eligibility
Ensure your project is economically viable and aligns with the mission and objectives of the Local Innovation and Growth Fund.
Verify that your project fits within the prioritized sector established in the MRC’s action plan.
Step 2: Project Preparation
Prepare a major project proposal with a minimum investment of $500,000.
Ensure your project contributes structurally to the Domaine-du-Roy territory and primarily benefits the MRC area.
Agree to use funds only for the purposes described in the application and adhere to responsible practices.
Step 3: Assemble Documentation
Compile all necessary documents, including financial projections, proof of project impact, and innovation plans.
Prepare to demonstrate the project's contribution to job creation or consolidation.
Include personal or solidary surety for loan guarantees as required.
Step 4: Create an Application
Draft the application form, detailing your project’s scope, objectives, and expected outcomes.
Highlight the innovative nature and potential impact of your project on diversification and employment in the area.
Step 5: Submit Application
Submit the completed application to the MRC Domaine-du-Roy.
Ensure submission is before the stipulated deadline to be considered for funding.
Step 6: Await Confirmation
Receive confirmation of application receipt from the MRC Domaine-du-Roy.
Retain all correspondences for your records.

grant_single_labels|otherInfo

This grant involves several management and disbursement conditions that applicants should be aware of:

Loans granted require a combination with an FLI loan, matching the amount provided.
The amortization period for each loan is capped at 7 years, with an initial 2-year moratorium period on both principal and interest payments from the loan disbursement date.
A 5% administrative management fee is deducted from the funds invested for managing the loan process.
Loans must be secured with a personal or solidary guarantee or by mortgage as deemed necessary by the MRC.
Disbursement of loan amounts can be made in phases, contingent upon presentation of supporting documentation and project progress.
The basic interest rate for the loan is 2%, augmented by risk and amortization premiums based on the assessed loan risk level.
Public disclosure of granted funding is mandatory, as authorized by the applicant company.

Apply to this program

Empowering Local Enterprises through Financial Support

The MRC Domaine-du-Roy Local Innovation and Growth Fund offers financial assistance in the form of loans to private and social economy businesses with high development potential. The fund aims to foster innovation, create new employment opportunities, and strengthen existing jobs in the Domaine-du-Roy territory by supporting projects that can diversify the local economic landscape.

Detailed Insights on the Local Innovation and Growth Fund

The MRC Domaine-du-Roy Local Innovation and Growth Fund is a pivotal resource for businesses looking to innovate and expand within this Canadian region. This fund is specifically designed to support enterprises that present significant growth opportunities and exhibit a strong penchant for innovation. By providing loans of up to $50,000, this grant is intended to spark economic diversification and resilience in the local economy.

Eligible businesses include private companies and social economy enterprises, as well as cooperatives actively engaged in projects that can substantially contribute to the area's economic fabric. The fund mandates that the loan amount be matched with an equivalent loan from the FLI, magnifying the impact of the investment through synergized funding streams.

The financial support offered through this fund is not merely a lifeline but a strategic push towards economic vitality, with the loan structured to include a maximum amortization period of seven years. This period provides businesses with the necessary temporal cushion to implement and capitalize on their projects. Furthermore, a two-year moratorium on the repayment of both principal and interest allows businesses to focus on achieving their project milestones without the immediate pressure of financial repayment, thereby fostering a conducive environment for innovation.

From an eligibility perspective, projects seeking funding must align with the MRC’s strategic action plan and demonstrate substantial structural impact within the Dominion-du-Roy region. This includes initiatives that fall within a prioritized sector, highlighting the region's focused approach in nurturing specific industries. Additionally, projects need to showcase a responsible attitude towards sustainability and compliance with governmental expectations regarding labor, health, safety, and environmental regulations.

The fund's structure is inclusive, foreseeing the potential scenario where multiple enterprises qualify for the grant. In such cases, the fund prioritizes businesses that adopt innovative management and production strategies or have a strong commitment to sustainable development. Moreover, projects that provide significant communal benefits or have additional financial backers are likely to be favored, ensuring that the funds are allocated to projects with the highest potential community return.

To ensure that funds are dedicated to their intended purpose, the grant employs a robust mechanism for controlling disbursements. Businesses must provide documentation that verifies the use of funds before disbursements are made. This careful approach ensures that each dollar spent aids in the intended project outcomes.

Overall, the Local Innovation and Growth Fund is a strategic initiative aimed at enriching the economic landscape of Domaine-du-Roy by supporting innovation-led projects that promise not just immediate economic stimulation but also long-lasting community benefits. The fund embodies a vision of growth that is both sustainable and impactful, positioning Domaine-du-Roy as a leader in economic innovation.