MRC Domaine-du-Roy — Local Investment Fund (LIF) QC Canada

MRC Domaine-du-Roy — Local Investment Fund (LIF)

QC, Canada
Local Investment Fund for business project development
grant_single_labels|summary
grant_single_labels|preview
grant_single_labels|projects
grant_single_labels|admissibility
grant_single_labels|criteria
grant_single_labels|register
grant_single_labels|otherInfo

grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|maxCount
  • grant_single|projectCostPercent
grant_single|deadlines
  • grant_single|openingDateOctober 11, 2023
  • grant_single|grantStatusClosed
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
  • Agriculture, forestry, fishing and hunting
  • Utilities
  • Information and cultural industries
  • Finance and insurance
  • Professional, scientific and technical services
  • Administrative and support, waste management and remediation services
  • Other services (except public administration)
  • Public administration
grant_single|grantors
  • MRC Domaine-du-Roy
grant_single|status
grant_card_status|open

grant_single_labels|preview

The FONDS LOCAL D’INVESTISSEMENT (FLI) program provides financial assistance up to $100,000 to businesses for the purpose of supporting viable enterprises, financing start-ups, expansion, improvements, and entrepreneurial succession within the MRC Domaine-du-Roy territory. Eligible activities include start-up operations, business transformation, expansion projects, and entrepreneurial succession, with a focus on creating or maintaining jobs and fostering economic development.

grant_single_labels|projects

The grant supports business projects that aim at creating, supporting, improving, and growing businesses while fostering entrepreneurship within the specified region. The eligible projects or activities focus on providing working capital and necessary capital investments linked to various stages of business development.
  • Business start-up projects for companies operating in Quebec for under two years, supporting the commercialization phase with a focus on operational and commercial activities.
  • Improvement and transformation projects of existing businesses to enhance productivity, digital transformation, and sustainable organizational practices.
  • Growth and expansion projects for businesses active in Quebec for at least two years, focusing on investment in business expansion.
  • Entrepreneurial succession projects involving the acquisition of a significant interest in existing businesses to ensure business continuity.

grant_single_labels|admissibility

The eligibility criteria for the FONDS LOCAL D’INVESTISSEMENT grant are outlined according to organizational structure, geographic requirements, and certain operational thresholds.
  • The company must be a for-profit entity legally constituted under the laws of Quebec or Canada, or a social enterprise (cooperatives and non-profits) with commercial activities as per the Loi sur l’économie sociale.
  • The business must operate within the territory of the MRC Domaine-du-Roy and have its head office in Quebec.
  • The company must be registered in the Registre des entreprises du Québec (REQ).
  • The business must have economic viability, demonstrating profitability permanence, repayment ability, and good future prospects.
  • The promoters of the business must have relevant experience and knowledge in their industry, as well as management skills.
  • Projects must have positive environmental and societal impacts and should employ sustainable business practices.
  • Other financial partners' contributions, including a minimum involvement from a financial institution and promoters' equity, are highly desirable.

grant_eligibility_criteria|who_can_apply

The FONDS LOCAL D’INVESTISSEMENT (FLI) is designed to support local businesses in the Domaine-du-Roy region through financial assistance that complements private and other governmental financing sources. The grant aims to foster entrepreneurship and support various business development initiatives while focusing on creating and maintaining jobs in the region.
  • Businesses must be legally constituted as for-profit entities under Quebec or Canadian law, or as collective enterprises (cooperatives and NPOs) with commercial activities according to the Social Economy Act.
  • Eligible businesses must operate in the Domaine-du-Roy area and have their head office in Quebec, registered with Quebec's enterprise register (REQ).
  • Priority is given to businesses in the primary and secondary sectors, as well as high-value tertiary sectors such as telecommunications, electric energy, financial intermediaries, business services, robotics, software design and manufacturing, recycling, environmental services, industrial and scientific services, and industrial design services.
  • Applicants must not be registered in the Register of Not Eligible Businesses for Public Contracts (RENA) or have failed obligations related to previous financial assistance in the last two years.
  • State-controlled enterprises, those under creditor protection, those with ethical concerns, or those with a history of non-compliance with labor or human rights laws are excluded.
  • Businesses in certain sectors, unless they obtain a prior waiver, including armament production, fossil fuel activities, gambling, violent gaming, exploitation of living beings through sports or racing, sexual exploitation activities, property development, tobacco, and non-eligible cannabis-related activities, are not eligible.

grant_eligibility_criteria|who_cannot_apply

This grant excludes certain companies and industries due to their status or main activity. The restrictions ensure that funds are aimed at businesses that align with the grant's economic development objectives.
  • Companies registered in the Registre des entreprises non admissibles aux contrats publics (RENA), including ineligible subcontractors.
  • Businesses that failed to meet their obligations after a formal notice by the MEIE or MRC within the last two years.
  • State-owned enterprises or those controlled directly or indirectly by a governmental entity.
  • Companies under the protection of the Companies' Creditors Arrangement Act or Bankruptcy and Insolvency Act.
  • Businesses with unethical practices that could tarnish the government's or MRC's reputation.
  • Companies with poor environmental responsibility records according to applicable legislation.
  • Businesses with a history of non-compliance with labor laws or human rights legislation.
  • Industries involved in arms production or distribution.
  • Companies active in fossil fuel-related activities except those transitioning to a low-carbon economy.
  • Organizations involved in gambling, such as casinos or gambling terminals.
  • Enterprises involved in violent gaming or animal-involving combat sports.
  • Businesses involved in sexual exploitation activities like erotic bars or pornographic production.
  • Real estate management and development businesses, unless providing tenant services.
  • Companies dealing with the production, sale, and services related to tobacco or drugs, with exceptions for certain cannabis and hemp-related activities.
  • Entities seeking funding for pre-start-up phases or direct individual financing (except some succession projects).

grant_eligibility_criteria|eligible_expenses

The grant covers specific expenses necessary for the successful execution of various approved business projects.
  • The need for additional working capital for up to two years, specifically for justified and reasonable expenses related to the project.
  • Capital expenditures directly and strictly linked to the realization of the business project, including acquisition of technology, land, buildings, equipment, machinery, and rolling stock, as well as construction, expansion, renovation, and site or facility improvements.
  • Professional fees prior to project realization, such as feasibility analysis, external audit, or impact study.
  • Professional fees directly related to the realization of the business project, such as technology implementation, equipment and machinery installation, and acquisition, construction, renovation, or development of sites and facilities.
  • For entrepreneurial succession projects, expenses related to the acquisition of company property titles (voting shares or stakes) and business assets.
  • Professional fees directly associated with the transaction, acquisition, and transfer of business management and ownership.

grant_eligibility_criteria|zone

This grant is aimed at supporting businesses located in specific geographical areas to enhance regional economic development. Companies must be situated within these areas to qualify.
  • The business must be located on the territory of the MRC Domaine-du-Roy.
  • The company must have its head office in Quebec.

grant_single_labels|criteria

The evaluation and selection of projects for the FLI grant are focused on criteria that ensure the financial support complements existing resources and contributes to broader economic and employment objectives.
  • Economic viability of the financed company, demonstrating sustainability, repayment capacity, and positive outlooks.
  • Knowledge and experience of the promoters, including relevant domain expertise and management skills.
  • Environmental and societal benefits, with emphasis on sustainable business practices.
  • Openness towards workers and positive labor relations.
  • Involvement of additional financial partners and private capital to leverage funding.

grant_single_labels|register

Here are the steps to submit an application for this grant:
  • Step 1: Review Eligibility Criteria
  • Ensure your enterprise meets the criteria such as being legally constituted under Québec or Canadian laws and operating in the territory of the MRC.
  • Verify that your project aligns with one of the eligible categories such as business start-up, improvement, expansion, or entrepreneurship succession.
  • Step 2: Gather Required Documents
  • Complete the financial aid application form, making sure it is dated and signed.
  • Prepare a detailed business plan or project description as required in the application.
  • Provide a detailed breakdown of project expenses.
  • Assemble the financial framework of the project and confirm any other financial aid or project-related financing.
  • Include financial statements for the past three years, interim financial statements if recent ones are over six months old, or if it's a new company, provide interim statements.
  • Prepare projected financial statements.
  • Submit declarations of compliance with francization and employment equality, or the relevant certifications if applicable.
  • Include any other documents requested by the MRC.
  • Step 3: Submission of the Application
  • Submit all completed forms and documents to the MRC Domaine-du-Roy for review and processing.
  • Step 4: Await Confirmation
  • Wait for confirmation that your application has been received.
  • Keep a copy of your submission and confirmation for your records.
  • Step 5: Attend to Follow-up
  • Respond promptly to any requests for additional information or clarification from the MRC during the evaluation process.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:
  • The maximum investment by the FLI is $100,000, not to exceed 50% of eligible expenses, with exceptions for social economy enterprises.
  • Investments are mainly provided as term loans with flexible terms, including the possibility of a participatory loan involving net profit or sales royalties.
  • The interest rate includes a base rate of 2%, a risk premium depending on the loan type, and an amortization premium if the term exceeds 60 months.
  • A funding moratorium may be granted, with terms depending on the project's nature, allowing for deferred payments.
  • Projects must begin within the political framework, with provisions for exceptions requiring MEIE approval.
  • Cumulative public financial aid (including FLI) cannot exceed 50% of the project's cost, with special consideration for social economy enterprises.

Apply to this program