MRC du Granit — FIL
Last Update: February 23, 2025
QC, Canada
Local investment fund supporting entrepreneurial development in Granit
MRC du Granit — FIL at a glance
Eligible Funding
- No Condition
Timeline
- Continuous Intakes
Financing Type
Loans and Capital investments
Eligible Industries
- Manufacturing
Grant Providers
- MRC du Granit
Status
Open
Overview of the MRC du Granit — FIL program
The MRC du Granit's Fonds d’investissement local (FIL) aims to support local entrepreneurship by providing term loans and convertible participatory loans to viable small businesses, particularly in the manufacturing sector, fostering innovation, market development, and employment opportunities. The funding does not have a specified maximum amount but is designed to complement existing financial solutions without repaying existing debts.
Financing terms and conditions
- Term loan provided without requirement for guarantees.
- Convertible participatory loan into common shares, also provided without requirement for guarantees.
- Investment is held as ordinary shares while remaining a minority shareholder in the enterprise.
- The funding must complement existing financing options available from financial institutions and lenders, and cannot be used to repay existing debts or other forms of such financial commitments.
- Grants in any form are not eligible under this funding program.
Eligible projects & activities
- Support for small for-profit businesses primarily in the manufacturing sector or those reinforcing the manufacturing sector.
- Assistance for businesses in expansion, consolidation, or exceptionally in start-up or succession phases.
- Support for enterprises that maintain and create sustainable jobs.
- Backing for companies whose activities align with the strategic development issues of the MRC du Granit.
- Encouragement for innovative companies.
- Promotion of businesses focused on product and service diversification, market development, and training.
- Support for businesses that do not create excessive competition with existing local enterprises.
Eligibility criteria of the MRC du Granit — FIL program
- The applicant must be a small for-profit business located in the territory of the MRC du Granit.
- The business should primarily belong to the manufacturing sector, first transformation, or significantly consolidate the key manufacturing sector.
- The business must be in expansion or consolidation stage, with exceptions for startups or business transfers.
- The enterprise should contribute to maintaining and creating viable jobs.
- The business activities must align with the strategic development issues of the MRC du Granit.
- Enterprises should have an innovative character.
- The business should focus on diversification of products and services, market development, and training.
- There should be no excessive competition with existing businesses.
Who is eligible?
- Small for-profit businesses primarily in the manufacturing sector on the territory of the MRC du Granit.
- Businesses in either expansion or consolidation, exceptionally at startup or succession stages.
- Businesses that enable the maintenance and creation of viable jobs.
- Businesses whose activity aligns with the strategic development issues of the MRC du Granit.
- Innovative businesses.
- Businesses focused on diversifying products and services, market development, and training.
- Businesses that do not create excessive competition with existing local companies.
Eligible geographic areas
- Businesses located in the MRC du Granit territory.
Additional information
- The investment must be complementary to funding provided by existing financial institutions and lending organizations.
- The funding is not to be used to repay debts or other forms of financing already provided by these institutions.
Contact MRC du Granit
info@mrcgranit.qc.ca
819-583-0181