MRC Domaine-du-Roy — Local Innovation and Growth Fund

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.

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.

Who is eligible?

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.

Who is not eligible

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.

Eligible expenses

The grant specifies certain restrictions but does not elaborate explicitly on the eligible expenses in detail.

Eligible geographic areas

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.

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.

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.