MRC Montmagny — Regions and Rurality Fund (FRR) QC Canada

MRC Montmagny — Regions and Rurality Fund (FRR)

Montmagny, QC, Canada
Regional and rural development grant for Quebec municipalities
grant_single_labels|summary
grant_single_labels|preview
grant_single_labels|projects
grant_single_labels|admissibility
grant_single_labels|criteria
grant_single_labels|register
grant_single_labels|otherInfo

grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|maxCount
  • grant_single|projectCostPercent
grant_single|deadlines
  • grant_single|openingDateApril 01, 2020
  • grant_single|closingDateDecember 31, 2024
  • grant_single|grantStatusClosed
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
  • Agriculture, forestry, fishing and hunting
  • Construction
  • Manufacturing
  • Retail trade
  • Professional, scientific and technical services
  • Health care and social assistance
  • Arts, entertainment and recreation
grant_single|grantors
  • MRC de Montmagny
grant_single|status
grant_card_status|closed

grant_single_labels|preview

The Fonds Local d’Investissement (FLI) provides financial support in the form of loans, offering up to $50,000 per project to stimulate the development, consolidation, and expansion of businesses within the MRC de Montmagny. Eligible activities include capital expenditures such as land, building improvements, equipment, technology acquisition, and business succession projects, with a focus on fostering job creation and economic impact in the region.

grant_single_labels|projects

The grant supports activities that align with the development goals and foster economic, social, and cultural growth within the MRC of Montmagny. Eligible projects mainly focus on business creation, job development, and community impact.
  • Creation, acquisition, consolidation, and expansion of businesses.
  • Creation and/or consolidation of jobs.
  • Projects that primarily serve the population or have a direct impact on the community.

grant_single_labels|admissibility

Eligibility for this grant is based on specific requirements regarding the company's operations and alignment with the investment policy of the MRC de Montmagny.
  • The enterprise must be involved in activities that align with the orientations of the MRC de Montmagny's investment policy.
  • The company's business plan should demonstrate viability, including permanence, profitability, repayment capacity, and good future prospects.
  • Company promoters must have relevant knowledge, experience in the field, and management skills.
  • There should be an open approach in the company towards its workers and favorable labor relations practices.
  • Other financial partners' contributions and promoters' equity investments are highly encouraged.
  • The company must not solely focus on subcontracting or privatizing operations if it merely shifts economic activities from one organization to another.
  • The enterprise should not belong to sectors excluded by the policy, such as those with controversial activities that could negatively affect the MRC's reputation.
  • The company should not engage in speculative activities or those just intending to shift workforce across companies within the territory.

grant_eligibility_criteria|who_can_apply

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.

grant_eligibility_criteria|who_cannot_apply

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.

grant_eligibility_criteria|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.

grant_eligibility_criteria|zone

The Fonds régions et ruralité (FRR) is applicable specifically to regions within Quebec where the regional county municipality (MRC) can access these funds, with a mandate to bolster regional development initiatives. The emphasis is on MRC territories for implementing strategic projects and local economic enhancement.
  • Regions designated as MRC territories in Quebec.
  • Localities within the jurisdiction of the MRC of Montmagny.
  • All areas covered under the administrative region of Quebec are potentially eligible if associated with an MRC.

grant_single_labels|criteria

The evaluation and selection criteria for projects under the Fonds régions et ruralité (FRR) are aimed at ensuring the viability and alignment of proposals with the strategic goals of regional development.
  • Economic viability of the enterprise being financed, demonstrating permanence, profitability, repayment capacity, and promising future prospects.
  • Knowledge and relevant experience of the promoters in their respective domains, along with management abilities.
  • Openness towards employees and enterprise's approach to labor relations.
  • Participation of other financial partners is highly favorable, especially the involvement of financial institutions and the promoters' investment.
  • Sustainable financing with an emphasis on the autonomy and continuation of funding perspectives.

grant_single_labels|register

Here are the steps to submit an application for this grant:
  • Step 1: Identify Relevant Fund Section
  • Determine which of the four fund sections (Support for regional outreach, Support for local and regional development of MRCs, "Signature innovation" projects, or Support for vitalization and inter-municipal cooperation) fits your project.
  • Step 2: Gather Documentation
  • Prepare necessary documentation as per the guidelines, including project description, financial details, plan of action, and organizational information.
  • Ensure all documents are in accordance with the MRC's policies and requirements.
  • Step 3: Prepare Application
  • Draft your project proposal following the objectives and criteria of the relevant fund section.
  • Ensure your project aligns with the outlined priorities of the MRC in Montmagny.
  • Step 4: Submit Application
  • Submit the application along with all required documents to the MRC of Montmagny, addressed to the Comité local de développement (CLD).
  • Step 5: Await Review and Decision
  • Once your application is submitted, it will be analyzed by the responsible advisor who will prepare a complete analysis document.
  • The application will then be presented to the Investment Committee for a decision.
  • Step 6: Receive Notification
  • You will be informed in writing of the decision made by the Investment Committee regarding your application.

grant_single_labels|otherInfo

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.

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