MRC de Montcalm — FLI/FLS
QC, Canada
Investment support for economic growth in the Montcalm region
grant_single|update February 17, 2025
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateJune 28, 2023
- grant_single|closingDateMay 20, 2024
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
- Health care and social assistance
- Arts, entertainment and recreation
grant_single|grantors
- MRC Montcalm
grant_single|status
grant_card_status|open
grant_single_labels|preview
The MRC de Montcalm's FLI/FLS grant offers a maximum funding of $150,000 and aims to support entrepreneurial activities such as business startup, expansion, and entrepreneurial succession. Eligible activities include projects that demonstrate economic viability, involve knowledgeable promoters, and create significant local economic benefits.
grant_single_labels|terms_and_conditions
- Investments are provided in the form of term loans with or without security, personal guarantees, or under participative conditions that might include royalty or share purchase options.
- Interest rates are determined based on a risk assessment, with adjustments for the level of risk and the MRC de Montcalm's participation in financing.
- The financial aid covers up to 50% of eligible expenses for regular businesses and up to 80% for social economy enterprises.
- The unremitted balance of financial assistance from the FLI cannot exceed $300,000 for a single enterprise, cumulatively over time.
- Financial assistance from government sources must not exceed 50% of the total project cost for profit-oriented businesses and 80% for social economy enterprises.
- A repayment moratorium of up to 36 months can be applied under specific project conditions, with interest potentially being capitalized during this period.
- Investments are generally repayable over a period not exceeding seven years, extending to ten years under cash flow-based repayment situations.
- The maximum investment by the FLI to an individual beneficiary is $150,000 within a twelve-month time frame.
- The FLS can offer temporary financing in the form of bridge loans for confirmed future revenues, with monthly interest payments and capital due at maturity.
- An administrative fee of $100 per application is non-refundable and is required for the processing of the dossiers.
- Repayments can be anticipated provided they comply with the conditions set forth in the loan agreement.
- Legal procedures and cost-sharing measures between the FLI and FLS are in place for the recovery of investments if the beneficiary defaults.
grant_single_labels|projects
- Startup projects, with support through the early phases until achieving sustainable operations.
- Entrepreneurial succession, assisting individuals or groups in acquiring and managing existing businesses.
- Business acquisitions, facilitating the purchase of assets or shares of an existing business.
- Business improvement and transformation, enhancing productivity, adopting digital practices, and sustainable organizational practices.
- Business growth and expansion, supporting projects that foster corporate growth and development.
- Short-term financing or bridge loans, covering temporary financial needs pending confirmed revenue sources.
- Business recovery projects, helping companies in temporary crises, provided they have strong management and a solid recovery plan.
grant_single_labels|admissibility
- The enterprise must be legally constituted under the laws of the government of Quebec or Canada.
- The company must operate within the MRC de Montcalm territory and have its headquarters in Quebec.
- The enterprise must be registered in the Quebec Business Register (REQ).
- The enterprise can be for-profit or a social enterprise (such as cooperatives and non-profits with commercial activities).
- The enterprise must adhere to the sectors of activity aligned with the MRC de Montcalm's priorities.
- Applicants cannot be registered under the Register of enterprises ineligible for public contracts (RENA).
- Enterprises under protection of the Companies' Creditors Arrangement Act or the Bankruptcy and Insolvency Act are not eligible.
- Applicants must not have ethical conduct that could compromise the perceived integrity of the government or the regional county municipality.
- Enterprises must not have historical issues with labor laws or human rights legislation.
- Social economy enterprises must provide services to a non-subsidized client base and adhere to certain conditions outlined in Annex A.
grant_eligibility_criteria|who_can_apply
- For-profit enterprises legally established under the laws of Quebec or Canada.
- Collective enterprises such as cooperatives and non-profit organizations engaged in market activities, in accordance with the Social Economy Act.
- Entrepreneurs or groups of entrepreneurs wishing to acquire substantial ownership (at least 25%) of an existing business or a significant share of its assets for succession or takeover purposes.
grant_eligibility_criteria|who_cannot_apply
- Companies registered in the Register of businesses ineligible for public contracts (RENA).
- Applicants who have failed to meet obligations for previous financial assistance from the Ministry or MRC.
- Crown corporations or companies directly or indirectly controlled by a government or majority-owned by a Crown corporation.
- Entities under the protection of the Companies' Creditors Arrangement Act or the Bankruptcy and Insolvency Act.
- Companies with ethical conduct likely to tarnish the reputation of the government or MRC.
- Entities with environmentally irresponsible behavior according to applicable legislation.
- Organizations with a history of labor standards or human rights violations.
- Companies involved in the production or distribution of armaments.
- Entities involved in fossil fuel exploration, extraction, drilling, production, and refining, except for activities aiding the transition to a low-carbon economy.
- Businesses engaged in gambling, such as casinos or bingo halls.
- Organizations dealing with violent games, combat sports, or similar activities.
- Entities involved in sexual exploitation, including erotic bars or pornographic material production.
- Businesses focused on real estate management or development, unless it supports tenant services.
- Organizations centered on tobacco or drug consumption services, except specific cannabis and industrial hemp interventions.
- Entities dealing with recreational cannabis products or non-Health Canada approved medical cannabis products.
grant_eligibility_criteria|eligible_expenses
- The need for additional working capital compared to existing operational expenses, necessary for the execution of the company's project for a maximum period of two years.
- Capital expenditures strictly and directly linked to the project realization, such as acquisition of technology, land, buildings, equipment, machinery, and rolling stock, as well as construction, expansion, renovation, land development, and premises setup costs.
- Professional fees preceding the realization of the company's project, including feasibility studies, external audits, or impact studies.
- Professional fees strictly and directly linked to the implementation of technology, equipment and machinery acquisition, construction, renovation, and premises setup.
- Acquisition costs of ownership titles of the targeted enterprise (voting shares or stakes) and assets of the targeted enterprise.
- Professional service fees directly related to the business acquisition transaction and enterprise leadership transition.
grant_eligibility_criteria|zone
- Companies operating on the territory of the MRC de Montcalm.
grant_single_labels|criteria
- Viability of the business, demonstrating permanent profitability and repayment capability.
- Knowledge and experience of the promoters, showcasing relevant expertise in the domain and management skills.
- Sustainability of the environmental and societal impact, with a focus on durable business practices.
- Openness towards workers, considering industrial relations as part of the financing analysis.
- Participation of other financial partners is desirable to diversify the capital sources.
- Self-financing potential to ensure the sustainability and balance of the funds.
grant_single_labels|register
- Step 1: Compile Required Documents
- Complete the financial assistance application form, ensuring it is dated and signed.
- Prepare a business plan or detailed project description as specified in the application requirements.
- Provide a detailed breakdown of project-related expenses.
- Assemble a financial plan and confirm any additional financial assistance or funding related to the project.
- Gather financial statements for the past three years.
- Include interim financial statements if past statements are older than six months or if the business is younger than a year.
- Generate projected financial statements.
- Include a declaration of compliance with francization requirements or provide a copy of the francization certificate if applicable.
- Attach a declaration of employment equality compliance or a copy of the workplace equality access program if applicable.
- Submit any other documents required by the MRC.
- Step 2: Application Submission
- Submit all required documents to the MRC office once compiled.
grant_single_labels|otherInfo
- The MRC de Montcalm's Fonds locaux collaborate closely with Fonds local de solidarité FTQ, s.e.c., ensuring that their investments align with both organizations' guidelines and frameworks.
- Any deviations from the investment framework require prior notification to Fonds local de solidarité FTQ, s.e.c.
- The Fonds locaux are designed to support the economic development of the MRC territory, and any investment must show a positive impact on this area.
- The investment policy can be modified, provided changes are within the established frameworks of MEIE and Fonds local de solidarité FTQ, s.e.c.
