How much funding can be received?

The Local Investment Fund (FLI) from MRC Domaine-du-Roy aims to facilitate access to capital and accelerate business projects to support development and employment within the region, offering funding of up to a maximum of $100,000 per project. Eligible activities include starting new businesses, expanding existing ones, improving productivity and digital transformation, as well as fostering entrepreneurial successions.

grant_single_labels|terms_and_conditions

The MRC Domaine-du-Roy Local Investment Fund (LIF) provides targeted financial support to foster the development and expansion of local enterprises. The financing modalities are designed to enhance capital access and leverage additional investments efficiently.

Maximum investment of $100,000 per project and up to $150,000 per beneficiary within a twelve-month period, with a total cumulative ceiling of $300,000 in repayable financial assistance.
Coverage of up to 50% of eligible project costs for traditional enterprises, and up to 80% for social economy enterprises.
Provision of term loans with flexible repayment schedules, which may include secured or unsecured options, profitability-based participation, or equity stake considerations.
Offer of loan guarantees to support additional financing from other sources.
Interest rate calculated with a base rate of 2%, plus risk and amortization premiums, adaptable to the term of the loan.
Moratorium options on principal repayment available up to 24 months for start-up projects and up to 36 months for entrepreneurial succession projects, considering the project's nature.
Encouragement of early repayment without penalties, subject to fulfillment of loan agreement conditions.
Combining government funding should not exceed a specified percentage of total project costs: 50% for general business and 80% for social economy enterprises.

grant_single_labels|projects

The MRC Domaine-du-Roy Local Investment Fund (LIF) supports projects that foster business development and economic growth in the MRC Domaine-du-Roy area. Eligible projects aim to enhance the business operational capacity, facilitate market expansion, and drive entrepreneurial succession.

Business Start-up: Financial support for businesses operational in Quebec for less than two years, focusing on launching commercial operations.
Business Improvement and Transformation: Initiatives aimed at increasing productivity, digital transformation, and implementing sustainable practices in businesses operational for at least one year in Quebec.
Business Growth and Expansion: Projects supporting the expansion and growth of businesses operational in Quebec for at least two years.
Entrepreneurial Succession: Supporting new entrepreneurs or groups acquiring at least a 25% stake in an existing business to ensure continuity and sustainability.

grant_single_labels|admissibility

Eligibility for the MRC Domaine-du-Roy Local Investment Fund (LIF) is determined by specific requirements related to the applicant's legal status, location, and business activities.

The applicant must be a for-profit business legally constituted under the laws of Quebec or Canada, or a collective enterprise (cooperatives and non-profit organizations) with commercial activities under the Law on the Social Economy (RLRQ, chapter E 1.1.1).
The business must operate within the territory of the MRC Domaine-du-Roy and have its head office in Quebec.
The business must be registered with the Quebec Enterprise Register (REQ).
Sectors prioritized include the primary, secondary, and certain high-value tertiary sectors like telecommunications, electricity, business services, robotics, software design and manufacturing, recycling, environment, industrial and scientific services laboratories, and industrial design services.
The business must demonstrate economic viability with the potential for profitability, repayment capacity, and positive future outlooks.
Promoters must possess relevant knowledge and experience in the sector as well as management skills.
The project should have positive environmental and societal impacts, supporting sustainable business practices.
The business should show openness towards employees and have positive labour relations.
The business should not solely focus on subcontracting or privatization of operations that would result in shifting economic activity and jobs from one organization to another.
Participation from other financial partners, including minimal involvement from financial institutions and equity contributions from promoters, is highly desirable for the projects submitted.

grant_eligibility_criteria|who_can_apply

Eligible applicants for the MRC Domaine-du-Roy Local Investment Fund (LIF) include legally constituted for-profit enterprises under Quebec or Canadian laws, and collective enterprises such as cooperatives and non-profit organizations (OBNL) that have commercial activities, according to the Social Economy Act. The enterprise must operate within the MRC Domaine-du-Roy territory, have its headquarters in Quebec, and be registered with the Quebec Enterprise Register (REQ). Additionally, priority is given to enterprises in primary, secondary, and high-value tertiary sectors such as telecommunications, electrical energy, financial intermediaries, business services, robotics, software design and manufacturing, recycling, environment, industrial and scientific service laboratories, and industrial design and creation services.

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 specific to companies located within certain geographical jurisdictions as outlined by the MRC Domaine-du-Roy. Eligible business locations are focused on promoting economic growth within these regions.

Companies operating on the territory of the MRC Domaine-du-Roy.
Businesses with their headquarters 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

Unlocking Capital for Local Business Growth

The MRC Domaine-du-Roy Local Investment Fund (LIF) is designed to accelerate business projects by providing access to essential capital for enterprises within this regional municipality. This initiative aims to enhance economic development, support job creation, and foster entrepreneurial spirit in the region.

Detailed Insights into the MRC Domaine-du-Roy Local Investment Fund (LIF)

The Local Investment Fund (LIF) by MRC Domaine-du-Roy is a strategic financial tool aimed at supporting local businesses in various stages of their growth journey. The primary mission of the LIF is to bridge the gap for local entrepreneurs by providing capital that not only aids project realization but also enhances job creation and sustainable economic development within the MRC Domaine-du-Roy. This fund supports a wide array of business needs, including startups, business expansion, improvement, transformation, and entrepreneurial succession.

The fund acts as a financial lever, designed to complement rather than replace traditional private equity or government funding. By doing so, it ensures that public funds are used effectively to catalyze broader financial contributions from other stakeholders. This approach helps cultivate an environment that encourages entrepreneurial endeavors, aiming for the creation and sustenance of viable enterprises across the region.

Eligible businesses under the LIF are legally constituted for-profit entities within Quebec, including collective enterprises such as cooperatives and social economy organizations that are engaged in commercial activities. These businesses must also be registered within the Quebec Business Registry and located in the MRC Domaine-du-Roy area. The fund prioritizes sectors that are integral to the local economy, including high value-added tertiary sectors like telecommunications, financial services, and environmental technologies.

The LIF supports business stages like startup, where businesses have been operational for less than two years, focusing on commercializing their offerings. Expansion and improvement are also key focuses, promoting digital transformation and productivity enhancement projects. The fund is also available for entrepreneurial succession, where new entrepreneurs or groups acquire significant shares in existing businesses to ensure continuity and growth.

Key criteria for funding include demonstrating economic viability, sustainability in business practices, and positive socio-economic impacts. Furthermore, projects must show a capability for repayment, and the business leaders must possess relevant experience and expertise.

The investment types approved by the LIF include term loans, equity investments, and loan guarantees. These are structured under favorable terms to assist businesses in meeting their operational and project-specific needs. Additionally, while the fund does not cover every type of business expense, it provides significant support in areas such as capital acquisition, working capital requirements, and professional fees related to project feasibility and impact assessments.

With an investment cap of $100,000 per project, the LIF ensures that sizable but judicious financial support is provided to each beneficiary, fostering possibly significant local economic impacts. The fund also carefully aligns with other public financing programs, ensuring collective investments do not exceed 50% of the project’s total cost for for-profit enterprises.

By implementing such a nuanced and strategically aligned resource as the Local Investment Fund, MRC Domaine-du-Roy plays a pivotal role in fostering economic resilience and growth. Through this initiative, local businesses are empowered to not only achieve their immediate operational goals but also contribute to the long-term economic vibrancy and sustainability of the region.