MRC L'Islet — L’Islet Business Growth Fund (FEEL)
Saint-Jean-Port-Joli, QC, Canada
Support for business development in L'Islet region
grant_single_labels|summary
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- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
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- grant_single|allIndustries
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- MRC de L'Islet
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grant_card_status|open
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The Fonds Essor Entreprises L'Islet (FEEL) is a program designed to support businesses in various developmental phases and initiatives that bolster the local economy, with a maximum funding of $25,000 per project. Eligible activities include strategic planning, market development, competitiveness improvement, and feasibility studies.
grant_single_labels|projects
The Fonds Essor Entreprises L'Islet (FEEL) provides support for diverse business activities aimed at enhancing competitiveness, strategic planning, and market development. Projects eligible for this grant focus on insights, strategic enhancements, and investment initiatives.
- Diagnostics on business functions.
- Strategic planning initiatives.
- Business turnaround plans.
- Marketing and market development plans.
- Competitive improvement processes.
- Development and refinement of a project.
- Pre-feasibility and feasibility studies.
- Investment projects.
grant_single_labels|admissibility
Companies eligible for this grant must meet the following criteria related to their business status and location.
- Must be a private company, either registered or incorporated, with its place of business in the MRC de L'Islet.
- Must be a social economy enterprise with its place of business in the MRC de L'Islet, and capable of demonstrating that it generates at least 51% of its revenue from autonomous sources such as the sale of goods and services, membership fees, or other means.
grant_eligibility_criteria|who_can_apply
The Fonds Essor Entreprise L’Islet (FEEL) supports private businesses and social economy enterprises based in the MRC de L’Islet. These entities must meet certain criteria related to their business characteristics and financial structure.
- Private enterprise, registered or incorporated, with a place of business in the MRC de L’Islet.
- Social economy enterprise with a place of business in the MRC de L’Islet, demonstrating that at least 51% of its revenue comes from autonomous sales of goods and services, member contributions, or other sources.
grant_eligibility_criteria|eligible_expenses
Eligible expenses for the grant are those that directly relate to the execution of the project and are supported by proper documentation.
- Professional fees.
- Materials essential for project execution.
- Salaries and employer social charges for employees specifically hired for the project.
- Capital expenses such as land, buildings, equipment, machinery, and rolling stock.
- Expenses related to incorporating the entity or similar expenditures.
grant_eligibility_criteria|zone
This grant is available to companies that have their place of business in a specific region in Canada. The eligible geographical areas are those within the MRC de L’Islet.
- Companies with their place of business in the MRC de L’Islet.
grant_single_labels|criteria
The evaluation and selection of projects for this grant are based on specific criteria to ensure alignment with the fund’s objectives.
- The economic viability of the business: The business plan demonstrates permanence, viability, profitability, repayment ability, and good future prospects.
- Potential for wealth creation for the community and job creation.
- Innovative character of the project.
- Complementarity of the project (the project must not substitute another existing service, activity, or business in the territory).
grant_single_labels|register
- Step 1: Prepare Required Documents
- Complete the original application form and ensure it is signed.
- Prepare a resolution designating an authorized representative for the project.
- Gather legal documents such as letters patent or proof of legal existence.
- Document the composition of the board of directors.
- Obtain letters from partners confirming financial assistance.
- Compile a comprehensive business plan.
- Ensure you have the last three years of complete financial statements.
- Develop financial projections for the next three years.
- Include copies of plans and permits if applicable.
- Collect quotes related to the proposed expenses.
- Supply a certificate of compliance if required.
- Step 2: Sending Application
- Choose between postal mail or email submission.
- For postal submission, send documents to: Direction du service de développement économique – MRC de L’Islet, 34, rue Fortin, Saint-Jean-Port-Joli (Québec) G0R 3G0.
- For email submission, send the application to s.thiboutot@mrclislet.com.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The application period for the FEEL fund is currently closed, and prospective applicants should reach out to the Director of Economic Development for future opportunities.
- Financial assistance granted through the FEEL program is repayable, with a maximum repayment period of 10 years, and notably, no interest is charged on this loan.
- The applicant's own contribution and community funding must constitute at least 20% of the eligible project costs.
- For projects initiated by the MRC itself, the limitation on the percentage of costs covered by the grant does not apply.
- Changes to eligibility criteria, selection standards, or management frameworks can be made by the MRC of L'Islet at their discretion.
grant_single_labels|contact
s.thiboutot@mrclislet.com
418 598-3076
Apply to this program
Empower Your Business with the Fonds Essor Entreprise L’Islet (FEEL)
The Fonds Essor Entreprise L’Islet (FEEL) provides crucial financial support to businesses within the MRC de L’Islet, helping them in various stages of development and fostering projects that build the local economy. As a complementary funding source, FEEL aims to empower businesses where their financial leverage might be limited, bringing strategic benefits to the community.
In-Depth Understanding of the Fonds Essor Entreprise L’Islet (FEEL)
The Fonds Essor Entreprises L’Islet (FEEL), established by the MRC de L’Islet, represents a vital initiative that is aimed at supporting enterprise growth and economic stability within the region. By acting as a complementary source of financing, the FEEL fund plays a strategic role in enabling businesses to achieve substantial growth, particularly when traditional funding routes are less accessible or prove inadequate to meet their strategic needs. This fund is notably characterized by its flexible and supportive approach to financing, allowing businesses to utilize the funds effectively for strategic endeavors that promise substantial returns in terms of economic development and employment creation.
Projects supported by the FEEL range from strategic diagnostics and market development initiatives to feasibility studies and investment projects. This flexibility ensures that businesses can channel funds into areas that maximize their growth potential and align with the MRC's broader economic development goals. Ideal initiatives are those that resonate with the locally identified strategic challenges and priorities, ensuring that the funding not only promotes individual enterprise success but also aligns with the broader economic objectives of the region.
The application process mandates comprehensive documentation, requiring businesses to present a detailed business plan, confirmation of legal standing, and financial projections, among others, to ensure that the funds are allocated to viable and impactful projects. Additionally, only expenses directly related to the project's realization are deemed eligible, excluding expenses incurred prior to the application or those related to debt servicing or daily operational costs. Such rigorous criteria are in place to ensure the effective use of the fund, maintaining a high standard of accountability and impact.
Economically viable projects with a high potential for community wealth and job creation are prioritized in the selection process, emphasizing innovation and project complementarity. The maximum funding available through FEEL is $25,000 per project, covering up to 40% of eligible project costs, with a requirement for proponents to contribute at least 20% of the project costs. This ensures shared investment in the project's success and long-term sustainability.
Interest-free and repayable over a period of up to ten years, this financial aid not only provides immediate support but also considers the business's financial sustainability and ability to benefit from the project outcomes. The repayment terms underscore the fund's commitment to fostering sustainable growth, allowing businesses to reinvest the benefits realized back into their operations over time without the additional burden of interest payments.
Ultimately, the FEEL is not just about financial support; it's about building capacity within the local economy, encouraging innovation, and creating a robust environment where businesses can thrive. This fund is a critical enabler within the MRC de L'Islet's economic strategy, accelerating business growth and fostering community-wide prosperity. For businesses ready to engage with dynamic growth opportunities, the FEEL stands as a beacon of support and empowerment. Entrepreneurs within the MRC de L’Islet can leverage this fund to propel their ventures forward, contributing to a vibrant and thriving economic landscape.