MRC Matawinie — Local investment fund

• The business must be legally incorporated under the laws of Quebec or Canada.
• The business can be a traditional for-profit enterprise or a collective enterprise (cooperatives and non-profit organizations) in line with the Social Economy Act.
• The business must operate in the territory of the MRC Matawinie and have its head office in Quebec.
• The business must be registered with the Quebec Enterprise Register (REQ).
• Social economy enterprises must self-finance more than 50% of their total revenue.
• Eligible projects include business start-up, expansion, transformation, and entrepreneurial succession.
• The existing enterprise involved in entrepreneurial succession must be located in the MRC Matawinie.
• For succession projects, an entrepreneur must acquire at least 25% of the business value.
• Projects are excluded if they are sexual, religious, political, related to gambling, or potentially harmful to the MRC of Matawinie.

Who is eligible?

• Traditional for-profit businesses legally constituted under Quebec or Canadian laws.
• Collective enterprises such as cooperatives and non-profit organizations with commercial activities that self-finance over 50% of their revenues.
• Entrepreneurs or groups of entrepreneurs aiming to acquire a significant stake in an existing business for succession planning purposes.
• Businesses in sectors aligned with the strategic development orientations of the MRC Matawinie's 2020-2025 strategic plan, such as tourism, agriculture, forestry, technology, manufacturing, industry, commerce and services, and culture.

Who is not eligible

• Companies or projects with a sexual nature.
• Companies or projects with religious or political activities.
• Businesses involved in gambling or games of chance.
• Entities whose activities could harm the MRC of Matawinie, such as matchmaking agencies, tarot, numerology, astrology, etc.

Eligible expenses

• Capital expenditures such as land, buildings, equipment, machinery, rolling stock, incorporation fees, and other similar expenses excluding goodwill expenses.
• Professional fees directly related to the project's implementation, including technology, equipment, and machinery installation; acquisition, construction, renovation, and setup of land and premises, excluding research and development activities.
• Additional working capital requirements, beyond current recurring expenses, necessary for project realization for a maximum duration of two years corresponding to the project execution year and the following year based on justified and reasonable expenses.
• For the social economy consolidation component, working capital needs for the first two years.
• Acquisition costs of ownership titles of the targeted enterprise (voting shares or parts) and the assets of the targeted enterprise.
• Professional fees directly related to the transaction, acquisition of the business, and business management transfer.

Eligible geographic areas

• MRC Matawinie

• Economic viability of the funded enterprise, highlighting the project's profitability and repayment capacity.
• Knowledge and experience of the promoters in relevant fields, including management skills.
• Environmental and societal impacts, focusing on sustainable business practices.
• Openness towards employees and workplace relationship management.
• Participation of additional financial partners, with a minimum of 15% project cost funding from promoters or other financial institutions.
• Self-financing capacity to ensure the sustainability of the "FLI" fund.
• Legal compliance, requiring entrepreneurs to be free from bankruptcy discharge and legal disputes.

• The policy is guided by the self-financing objectives of the local investment fund, ensuring the sustainability of the fund.
• All financing decisions are made with regard to the long-term viability and potential socio-economic impact on the territory of the MRC Matawinie.
• The policy may be subjected to modification by the MRC Matawinie, in line with the guidelines established by the Ministry of Economy, Innovation and Energy (MEIE).
• The details of the financing granted, including project names and amounts, may be published for transparency purposes.
• The financial support is not meant to replace private funding, but rather to complement existing financial resources.
• For loans above $25,000, a guarantee and insurance policy covering the entire amount are mandatory.
• Legal fees associated with the investment are the responsibility of the applicant.
• A non-refundable application fee of $100 is required for processing the application.
• A moratorium on capital reimbursement may be granted, with conditions, up to a maximum period of 24 months for specific projects.
• In case of non-compliance by the borrower, all legal mechanisms will be utilized for recovery.
• The investment fund encourages entrepreneurial succession and economic retention within the region.