grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|maxCount
  • grant_single|projectCostPercent
grant_single|deadlines
  • grant_single|openingDateJuly 09, 2024
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
  • Manufacturing
  • Professional, scientific and technical services
  • Health care and social assistance
  • Other services (except public administration)
  • Public administration
grant_single|grantors
  • MRC Fjord-du-Saguenay
grant_single|status
grant_card_status|open

grant_single_labels|preview

The FLI/FLS Investment Policy aims to invest in Quebec-based businesses to bolster their development and create or maintain jobs, offering maximum funding amounts of $150,000 for FLI and $100,000 for FLS per enterprise. Eligible activities include business start-up, improvement and transformation, growth and expansion, entrepreneurial succession, and funding for short-term needs or restructuring efforts.

grant_single_labels|terms_and_conditions

The MRC Fjord-du-Saguenay — Local FLI/FLS funds provide specific financing modalities designed to support local businesses efficiently. These modalities ensure that investments are strategically aligned with both financial and developmental goals.
  • Investments are primarily offered under a term loan structure, which may include or exclude security and personal guarantees.
  • The investment term generally ranges from 7 to 10 years, depending on the repayment method.
  • FLI (Fonds local d'investissement) investments cover up to 50% of eligible expenditures for projects, with exceptions for social economy enterprises which may receive up to 80%.
  • A blend of investment from both FLI and FLS (Fonds local de solidarité) is typical, except in cases where one might invest alone based on specific criteria.
  • Maximum investment for FLS is $100,000 per company, while FLI can invest up to $150,000 per recipient within 12 months under normal circumstances, with a total recoverable balance not exceeding $300,000 at any time.
  • Interest rates are determined by the level of risk associated with the project, with allowances for variation based on several pre-established factors.
  • Loan terms stipulate a maximum maturity date of June 1, 2032, for investments involving FLI.
  • Options for an interest rate reduction exist if the loan is secured by a first rank mortgage on valuable tangible assets.

grant_single_labels|projects

The MRC Fjord-du-Saguenay Local FLI/FLS funds are designed to support a variety of entrepreneurial projects, focusing on business development and economic growth. These funds particularly aim at enhancing productivity, supporting business continuity and expansion, and fostering sustainable business practices in the regional economy.
  • Support for the start-up phase of businesses until they achieve profitability.
  • Funding for individuals or groups taking over an existing business to ensure business continuity.
  • Financial assistance for companies acquiring other businesses to grow operations.
  • Investments in upgrading productivity, digital transformation, and implementing sustainable practices.
  • Projects aimed at expanding business operations, including the introduction of new products or services and entering new markets.
  • Temporary financing in anticipation of confirmed income sources.
  • Support for businesses undergoing temporary financial setbacks but showing recovery potential.

grant_single_labels|admissibility

Eligible companies for this grant must meet the following criteria:
  • Companies must be for-profit entities legally constituted under Quebec or Canadian laws, or collectively owned enterprises (cooperatives and non-profits) as defined by the Act on Social Economy, engaging in commercial activities.
  • The enterprise must operate within the MRC's territory and have its headquarters in Quebec.
  • It must be registered with the Quebec Enterprise Register (REQ).
  • For FLS support, social economy companies must comply with Annex "A" conditions, but FLI can invest alone in companies that do not meet one or more conditions in Annex "A".

grant_eligibility_criteria|who_can_apply

Eligible applicants for the FLI/FLS investment policy include legally constituted for-profit enterprises under Quebec or Canadian law, as well as collective enterprises such as cooperatives and non-profit organizations (NPOs) operating as social economy enterprises within the meaning of the Social Economy Act.The eligibility criteria include:1. Location and Registration: - Must operate within the MRC's territory. - Must be registered at the Quebec Business Register (REQ). - Must have its head office located in Quebec.2. Eligible Enterprises: - Legal for-profit entities and social economy enterprises conducting commercial activities. - Social economy enterprises must meet specific conditions outlined in Annex A, including characteristics such as democratic governance, priority given to people over capital, collective control, and impactful local development.3. Eligible Sectors: - Enterprises from sectors aligned with MRC’s priorities.Sections 3.3 details non-eligible applicants who are excluded based on criteria such as non-compliance with public contract registers, governmental ownership, bankruptcy protection, unethical behavior, environmental non-responsibility, and other specific sector exclusions. Additionally, projects not supported include those involving arms production, fossil energy, gambling, violent games, sexual exploitation, real estate management, and some drug-related services, unless falling within specified exceptions for cannabis and industrial hemp.

grant_eligibility_criteria|who_cannot_apply

This grant excludes certain companies and industries due to their status or main activity. The restrictions aim to ensure that funds are directed toward sectors that align with sustainable and ethical practices, as well as to ensure financial prudence.
  • Companies listed in the Register of enterprises ineligible for public contracts (RENA), including contractors associated with them.
  • Applicants that have failed to meet obligations related to previous financial aids within the last two years after a formal notice.
  • State-owned enterprises or those controlled by municipal, provincial, or federal governments, or entities majority-owned by such companies.
  • Entities under protection from the Companies' Creditors Arrangement Act or the Bankruptcy and Insolvency Act.
  • Companies with unethical behaviors affecting the integrity or reputation of the government.
  • Businesses with non-compliant environmental practices according to applicable laws.
  • Those with a history of violating labor standards or human rights legislation.
  • Companies involved in the production or distribution of armaments.
  • Entities related to fossil fuel activities except for transition projects.
  • Organizations engaging in gambling activities like casinos and bingo halls.
  • Firms involved in violent games or sports involving combat with any living species.
  • Businesses in the sex industry, like erotic bars or adult entertainment.
  • Real estate management and development, barring certain exceptions for tenant services.
  • Enterprises linked to the tobacco or drug consumption industry, with certain exceptions for cannabis and industrial hemp under strict criteria.
  • Cannabis industry projects related to recreational use or non-approved medical products.
Moreover, financial aid under this grant should not be utilized for payments benefiting ineligible entities.

grant_eligibility_criteria|eligible_expenses

The eligible expenses for this grant are detailed with specific attention to funding requirements and circumstances.
  • The need for additional working capital compared to current expenses, necessary for implementing the company's project for a maximum period of two years, which includes the project year and the following year, based on justified and reasonable expenses.
  • Capital expenditures strictly and directly related to the company's project implementation, such as acquiring technology, land, buildings, equipment, machinery, and rolling stock, as well as construction, expansion, renovation, landscaping, and fitting out premises and fields.
  • Professional fees preliminary to the company's project implementation, such as feasibility analysis, external audit, or impact study.
  • Professional fees strictly and directly related to the company's project implementation, such as the implementation of technology, equipment and machinery, as well as acquisition, construction, renovation, and landscaping of fields and premises.
  • Entrepreneurial succession projects can include purchases of ownership shares (voting shares or parts) and assets of the targeted company.
  • Professional fees strictly and directly related to the transaction and acquisition of the company, as well as the transfer of the company's management.

grant_eligibility_criteria|zone

This grant is territorially restricted to companies operating within a designated area in Quebec, Canada. Eligible locations are determined by their presence within this specific MRC region, aligning with local economic development policies.
  • Companies must operate on the territory of the MRC du Fjord-du-Saguenay.
  • Businesses should have their head office located in Quebec.

grant_single_labels|criteria

The evaluation and selection of projects for this grant focus on several key criteria designed to assess the viability and impact of proposed initiatives on both economic and social levels.
  • Economic viability and sustainability of the funded enterprise. The project should demonstrate prospects of ongoing profitability and repayment capacity.
  • Promoters' knowledge and experience, highlighting the expertise and relevant background in their field as well as managerial skills.
  • Environmental and societal impacts, emphasizing contributions to improving the socio-economic and environmental landscape through sustainable business practices.
  • Openness towards workers, considering the company's approach to employee relations and workplace environment.
  • Involvement of other financial partners, showing the presence of additional capital sources such as financial institutions or promoters' equity contributions.
  • Impact on fund sustainability, ensuring that the investment aligns with the self-financing objectives of the local funds.

grant_single_labels|register

Here are the steps to submit an application for this grant:
  • Step 1: Determine Eligibility
  • Review the list of eligible and ineligible applicants and projects to ensure compliance.
  • Assess if your project aligns with the sectors and types of projects funded.
  • Ensure your organization is registered and operates within the specified territory.
  • Step 2: Prepare Application Documents
  • Complete the official application form for financial assistance.
  • Draft a detailed project description including objectives, scope, and anticipated outcomes.
  • Prepare detailed financial projections, including a budget, funding sources, and financial statements.
  • Gather additional required documents such as interim financial statements and declarations of compliance, as relevant.
  • Step 3: Submit Application
  • Contact your MRC to know the submission method, physical or electronic.
  • Submit the completed application form and all supporting documents to the MRC.
  • Ensure submission is complete before any set deadlines, if applicable.
  • Step 4: Await Acknowledgment and Feedback
  • Wait for confirmation of receipt from the MRC.
  • Track your application status if a tracking mechanism is provided.
  • Step 5: Follow-Up and Support
  • Be prepared to provide additional information or clarification if requested.
  • Contact the MRC for any assistance or to address queries regarding your application.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:
  • The partnership between FLI and FLS involves utilizing a combined loan contract with differentiated interest rates for each fund.
  • Pre-startup projects are excluded from funding, with eligibility beginning at the commercialization stage.
  • The loan moratorium on capital and/or interest is determined by the project type, with specific durations provided.
  • The maximum total repayable funds for any single enterprise under the FLI is $300,000, with specific restrictions on government aid combinations.
  • Interest rates are determined by a risk analysis and may include a risk premium, amortization premium, and deduction for secured loans.
  • Enterprises must meet high integrity standards to qualify and enjoy continued financial support.

Apply to this program