MRC Montmagny — Regions and Rurality Fund (FRR)

Who is eligible?

Eligible applicants for the Fonds régions et ruralité (FRR) include the municipalities and regional county municipalities (MRCs) of Quebec, as well as organizations with MRC-like competence that are engaged in local and regional development. Specifically, the fund supports MRCs in their duty to establish and implement policies for local and regional development within their jurisdiction. Additionally, businesses, social economy enterprises, and other organizations undertaking structural projects that align with the MRC's development priorities may also be eligible for certain programs under this fund.

Who is not eligible

This grant excludes certain companies and industries due to their status or main activity. The restrictions are in place to ensure that the grant supports sectors that align with the MRC Montmagny's strategic objectives.

• Companies with activities that are sexual, religious, political, or otherwise controversial.
• Enterprises involved in activities considered to be unreasonable to be associated with the MRC Montmagny, such as agencies of encounters, war games, tarot, numerology, astrology, and personal growth courses.
• Pawn shops and businesses with speculative projects.
• Enterprises aimed at merely replacing workforce from one business to another within the territory.
• Activities resembling self-employment dedicated to one client, considered as a job converted into subcontracting self-employment.

Eligible expenses

The eligible expenses for this grant primarily include capital expenditures essential for business advancement.

• Capital expenses such as land purchase, buildings, leasehold improvements, equipment, machinery, and rolling stock.
• Costs for incorporation and similar expenditures.
• Acquisition of technologies including know-how, licensing or manufacturing agreements, patents, software, and similar items, excluding R&D activities.
• Working capital needs.
• Projects related to business succession.

Eligible geographic areas

The grant primarily focuses on supporting regional and rural areas managed by the funding body, likely targeting enhancement and vitality initiatives in specific regions.

• Municipalities and regional areas under the jurisdiction of MRC de Montmagny, Québec.

Here are additional relevant details for this grant:

• The MRC of Montmagny requires a financial recovery plan in case of default, which includes the possibility of suspending loan payments or demanding immediate repayment.
• The investment policy includes a stipulation that loans must have life insurance coverage, although this is optional for social economy organizations.
• An insurance policy for property covering a percentage of long-term assets can be mandated, depending on the project analysis.
• Committee members from the MRC can, under exceptional circumstances, review applications that do not strictly meet the policy criteria, provided the potential for extraordinary opportunity is demonstrated.
• For approved financial assistance, projects require a post-funding tracking process established and executed by qualified personnel at the CLD of the MRC de Montmagny.
• The Committee of Investment has the authority to amend interest rates on loans during the loan's anniversary date based on risk assessment recalibrations.