How much funding can be received?

Funds up to 15% of admissible expenses, capped at $150000 per project.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the MRC Matawinie — Local investment fund?

MRC Matawinie — Local investment fund is funded by MRC de Matawinie

What are MRC Matawinie — Local investment fund's eligibility criterias?

Eligible businesses include for-profit companies legally constituted under Quebec or Canadian law, collective enterprises (cooperatives and non-profit organizations) with commercial activities as defined by the Social Economy Act. The business must operate within the MRC Matawinie territory and have its headquarters in Quebec, and must be registered with the Quebec Enterprise Register (REQ).

MRC Matawinie — Local investment fund

Last Update: April 3, 2025

QC, Canada

Investment support for business development in Matawinie

MRC Matawinie — Local investment fund at a glance

Eligible Funding

Max. $150,000
Up to 15% of project cost

Timeline

Unspecified

Financing Type

Loans and Capital investments

Eligible Industries

Agriculture, forestry, fishing and hunting
Manufacturing
Information and cultural industries
Arts, entertainment and recreation

Grant Providers

MRC de Matawinie

Program status

Open

Overview of the MRC Matawinie — Local investment fund program

The MRC Matawinie Local Investment Fund provides financial assistance of up to $150,000 to support the development of viable businesses through start-up, expansion, and entrepreneurial succession projects. Eligible activities focus on creating sustainable enterprises and fostering economic development on the territory.

Financing terms and conditions

The financial aid can take various forms such as term loans, bond loans, participatory loans, loan guarantees, or investment in certain obligations or equity stakes, excluding subsidies or donations.
For entrepreneurial succession projects, aid is provided as an interest-free loan with a repayment holiday for the first year.
Any loan exceeding $25,000 must be secured with a guarantee and/or surety bond.
All loans above $25,000 require life insurance covering the full amount of the loan.
The investments encompass various guarantees, prioritized by rank, intended to ensure fund recovery during asset sales.
The investment ceiling for financial aid ranges from $1,000 to $150,000, with a maximum of $150,000 for any recipient per year.
Combined aid from Quebec, Canada, and Matawinie Development should not exceed 50% for for-profit projects or 80% for social economy projects.
A minimum of 15% of the total project cost must be secured by the promoters, potentially higher for certain projects.
The interest rate is determined based on the average preferential rate of Quebec's financial institutions, adjustable depending on project risk and offered guarantees.
An amortization premium of 1% applies if the loan term exceeds 60 months.
The interest rate may be decreased by 1% for loans secured by a first-rank mortgage on tangible assets.
Unpaid interest at due date will incur additional interest at the existing rate.
Exceptionally, a principal repayment moratorium may be granted for up to 12 months, extendable to 24 months for specific projects.
A $100 non-refundable filing fee applies to each application.
Legal and closing costs associated with the investment are the responsibility of the promoter.
Advance repayment of loans is permitted under conditions specified in the loan agreement.

Eligible projects & activities

Start-up projects for enterprises in operation in Quebec for less than two years, focusing on commercialization.
Projects aiming to improve and transform existing businesses through productivity enhancements and digital transformation.
Growth and expansion projects for enterprises operating in Quebec for at least two years, aiding their business expansion efforts.
Entrepreneurial succession projects, where entrepreneurs or groups of entrepreneurs wish to acquire at least a 25% stake in an existing business, following a planned succession strategy.

Eligibility criteria of the MRC Matawinie — Local investment fund program

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

Eligibility criteria of the MRC Matawinie — Local investment fund program

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.

How to apply to the MRC Matawinie — Local investment fund program

Presentation of the file

Prepare a detailed business plan.
Include financial statements and forecasts.
Detail the possible sources of funding for the project.
Complete, date, and sign the financial aid application form.

Validation and analysis of the file

Submit the complete file to the business advisor of the MRC.
Wait for the MRC advisor to verify and analyze the information provided.

Presentation to the CDECS

The file is presented to the Commission of Economic, Social and Cultural Development (CDECS).
Receive the recommendation from the CDECS to the Council of Mayors of the MRC of Matawinie.

Formalization of the contract

Sign a contract with the MRC Matawinie after acceptance of the request.
Prepare the necessary legal and administrative acts surrounding the intervention of the MRC.

Follow-up and management of the file

Monitor progress with the MRC after the financial assistance is granted.
Adhere to the timeline and the agreed results for the project.

Additional information

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.

Apply to this program