MRC Domaine-du-Roy — Local Innovation and Growth Fund
- Open continuously
Overview
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.
At a glance
Funding available
- Reduce environmental footprint
- Maximum amount : 50,000 $
- Minimum amount : 500,000 $
- Up to 50% of project cost
- Open continuously
Eligible candidates
- All industries
- Le Domaine-du-Roy
- Saguenay–Lac-Saint-Jean
- Quebec
- For-profit business
- Social economy enterprise
- Non-financial cooperative
- All revenue ranges
- All organization sizes
- All groups
Next Steps
Activities funded
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.
Eligibility
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.
Additional information
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.