MRC Drummond — Local investment funds and local solidarity funds
grant_single|update April 3, 2025
QC, Canada
Development funding for eligible Quebec manufacturing businesses
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Manufacturing
grant_single|grantors
- MRC Drummond
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds local d’investissement (FLI) program's "entreprise en développement" component offers up to $75,000 as a term loan to support investment projects in the manufacturing sector. Eligible activities include capital expenditures on items such as land, building, equipment, and working capital essential to the business's operations.
grant_single_labels|terms_and_conditions
This grant provides structured loan options to support capital investments essential for business growth in the manufacturing sector. It is designed to complement other financial resources, ensuring a comprehensive funding approach.
- Term loan up to a maximum of 25% of the project cost, capped at $75,000.
- Loan duration of up to 84 months.
- First-year loan features capital installments with 0% interest.
- During the second and third years, capital installments include 50% of the prevailing interest rate.
- Subsequent years involve capital installments and full interest payments.
grant_single_labels|projects
This grant is targeted at supporting development projects in the manufacturing sector, focusing on expanding production capabilities and enhancing operational infrastructure. The eligible activities predominantly revolve around capital expenditures that facilitate business growth and competitiveness.
- Acquisition of land for business expansion and development.
- Construction or improvement of manufacturing facilities.
- Purchase of new or upgraded equipment and machinery.
- Procurement of rolling stock necessary for operations.
- Costs related to incorporation and legal structuring, excluding goodwill expenses.
- Working capital requirements directly associated with the company's operational activities.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the company's operations and financial commitment.
- The company must have been in operation for two years or more.
- The project must involve an investment between $50,000 and $300,000.
- The company must be registered with the Registre des entreprises du Québec (REQ).
- The company must provide a minimum of 10% of the project cost as a down payment.
grant_eligibility_criteria|who_can_apply
The "entreprise en développement" section of the Fonds local d’investissement (FLI) is available for manufacturing sector businesses. Non-eligible sectors include traditional tertiary (retail, services, etc.), tourism, agri-food, and primary agriculture. Eligible businesses must be operational for at least two years, have an investment project ranging from $50,000 to $300,000, be registered with the Quebec business registry (REQ), and provide at least 10% of the project cost as equity. The assistance is provided in the form of a term loan, covering up to 25% of the project cost, with specific financial conditions applying throughout the loan term.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain companies and industries based on their sector of operation. It ensures that only businesses within the strategic manufacturing sector are eligible for funding.
- Companies within the traditional tertiary sector (retail, services, etc.).
- Businesses operating in the tourism sector.
- Firms within the agri-food sector.
- Enterprises involved in primary agricultural activities.
grant_eligibility_criteria|eligible_expenses
This program covers specific capital and operating expenses essential for the development and expansion of the business.
- Capital expenditures involving land acquisition.
- Construction or purchase costs related to buildings.
- Purchasing equipment necessary for business operations.
- Acquisition of rolling stock.
- Incorporation fees except goodwill expenses.
- Working capital strictly related to the business operations.
grant_eligibility_criteria|zone
This grant is localized to the region of Drummond, as indicated by the funding body's title, MRC Drummond, which suggests specific geographical eligibility criteria.
- Companies located within the MRC Drummond region in Quebec, Canada.
grant_single_labels|apply
1
Eligibility verification
- Ensure that your business is in the manufacturing sector.
- Check that your business has been operational for more than two years.
- Confirm that the investment project is between $50,000 and $300,000.
- Check that your business is registered with the Quebec Enterprise Register (REQ).
- Have at least 10% of the project cost as a down payment.
2
Preparation of the request
- Prepare a detailed project description.
- Compile all required documents: proof of business registration, project plan detailing the budget and eligible expenses.
- Obtain letters of support from other potential financial partners.
3
Consultation with the organization
Contact the organization offering the FLI for prior advice or clarification on the necessary documentation.
4
Submission of the request
- Submit your complete application to the office of the agency responsible for the FLI.
- Include all required documents as well as a copy of your project plan.
5
Follow-up on the request
- Wait for a confirmation of receipt of your request.
- Prepare to respond to any additional information requests from the organization.