MRC Papineau — Local Investment Fund (FLI) and Solidarity Fund (FLS)
QC, Canada
Investment program for business development in Quebec
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateSeptember 11, 2023
- grant_single|grantStatusClosed
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- MRC Papineau
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) aim to provide financial support to enterprises in Quebec, focusing on business development, job creation, and economic growth within the MRC territory. The program offers a maximum funding amount of up to $300,000 for projects like business start-ups, expansions, transformations, and entrepreneurial succession, with a strong emphasis on sustainability and community impact.
grant_single_labels|projects
The Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) grants support a diverse range of projects that focus on business development and economic sustainability within the region. Eligible projects include those aimed at business startup, growth, acquisition, and innovation.
- Business startup projects for companies in the commercialization phase within two years of operation.
- Relève entrepreneuriale for acquiring significant ownership and leadership in existing enterprises.
- Acquisition of existing businesses by new management teams or companies.
- Improvement and transformation projects aimed at increasing productivity and digitalization.
- Growth and expansion initiatives for established businesses to support new markets or services.
- Temporary financing solutions in anticipation of confirmed revenue streams.
- Business turnaround projects with strong management and feasibility plans.
grant_single_labels|admissibility
Eligibility for the Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) is determined by specific criteria that potential applicants must meet.
- The enterprise must be for-profit and legally constituted under the laws of the Quebec or Canada government.
- Collective enterprises, such as cooperatives and not-for-profit organizations (OBNL) with commercial activities, as defined by the Social Economy Act, are eligible.
- The enterprise must operate within the territory of the MRC and have its head office in Quebec.
- The enterprise must be registered with the Registre des entreprises du Québec (REQ).
- The enterprise must align with the priority sectors determined by the MRC.
- Applicants must not be listed in the Registre des entreprises non admissibles aux contrats publics (RENA).
- The enterprise must not have defaulted on obligations related to previous financial aid from the Ministry or MRC in the last two years.
- State-owned companies or companies controlled directly or indirectly by a government are not eligible.
- Enterprises under protection from the Company Creditors Arrangement Act or the Bankruptcy and Insolvency Act are not eligible.
- The enterprise must not engage in unethical practices that could harm the reputation of the government or MRC.
- There must not be a record of environmental irresponsibility according to applicable legislation.
- The enterprise must respect labor standards and human rights legislation.
- Enterprises in certain sectors, such as arms production, fossil fuel exploration, gambling operations, and others, are excluded unless a special exemption is obtained.
- For the FLS, social economy enterprises must meet additional conditions outlined in Annex A.
grant_eligibility_criteria|who_can_apply
Entrepreneurs interested in the Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) grants must adhere to specific eligibility criteria aimed at promoting economic impact within Quebec. The key criteria focus on business viability, sustainability, and community impact.- Legally constituted for-profit businesses and collective enterprises (cooperatives and non-profit organizations with commercial activities) in Quebec are eligible.- Businesses must operate in the territory of the MRC and be registered with the Quebec Business Registry.- For the FLS, social economy businesses need to meet additional specific criteria outlined in Annex A.- Eligible sectors are aligned with the priorities set by the MRC.Excluded applicants include those listed on public non-contract eligible registries, or meet certain disqualifying financial crisis, ethical issues, or have violated environmental or labor norms, irrespective of individual sector or activity.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain companies and industries due to their status or main activity. The restrictions aim to ensure that funds are directed towards sectors that align with ethical, legal, and sustainability standards.
- Companies listed in the Register of enterprises ineligible for public contracts (RENA), including their subcontractors.
- Applicants who failed to meet obligations related to previous financial aid within two years preceding the current application.
- State-owned enterprises or companies controlled directly or indirectly by any level of government.
- Companies under protection of the Companies' Creditors Arrangement Act or Bankruptcy and Insolvency Act.
- Firms with unethical behavior tarnishing the image of integrity expected by the government.
- Businesses with a history of non-compliance with environmental standards.
- Entities with a poor track record of labor standards or human rights legislation.
- Industries involved in the production or distribution of armaments.
- Companies involved in the fossil fuel sector except for activities transitioning to low-carbon economies.
- Operators in gambling industries like casinos and bingo halls.
- Businesses involved in violent sports or activities involving animal combat.
- Entities involved in sexual exploitation, such as erotic bars or escort agencies.
- Companies focused on real estate management and development, with certain exceptions.
- Businesses related to the production, sale, and services of tobacco or drugs, excluding certain cannabis and hemp projects.
- Financial intervention in recreational cannabis products or non-approved medical cannabis is prohibited.
grant_eligibility_criteria|eligible_expenses
The grant covers specific expenses necessary for the realization of projects aimed at starting, improving, transforming, or expanding businesses, as well as entrepreneurial succession.
- Additional working capital required for the project's realization over a maximum period of two years.
- Capital expenditures directly tied to the project's execution, such as acquisition of technology, land, buildings, equipment, machinery, and vehicles, as well as construction, expansion, renovation, and the setup of premises and land.
- Professional fees necessary before and during the execution of the project, such as feasibility analysis, external audit, impact study, and installation of technology, equipment, and machinery.
- Acquisition expenses of enterprise ownership titles (voting shares or parts) and assets for entrepreneurial succession projects.
- Professional fees directly linked to the transaction and acquisition of the enterprise and the transfer of enterprise management.
grant_eligibility_criteria|zone
This grant is specifically available to companies operating within the geographical area of Quebec, Canada. Companies must be located in certain areas to align with the goals of the Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS).
- Companies must operate within the territory of the Municipal Regional County (MRC) in Quebec.
- Businesses must have their headquarters located in Quebec.
grant_single_labels|register
- Step 1: Gather Required Documents
- Complete the application form, ensuring it is dated and signed.
- Prepare a comprehensive business plan or detailed project description.
- Include a detailed breakdown of project-related costs.
- Present a financial breakdown of the project and confirmation of any other financial assistance or funding related to the project.
- Provide financial statements for the past three years, and interim financials if applicable.
- Prepare forecasted financial statements.
- Include declarations regarding compliance with language requirements and employment equity, if applicable.
- Gather any additional documents required by the MRC.
- Step 2: Submit the Application
- Ensure all collected documents are complete and meet MRC standards.
- Submit the application to the MRC for review and analysis on a rolling basis as budget permits.
- Applications will be reviewed for compliance with requirements, available budget, and fairness among applicants.
- Step 3: Wait for Decision
- Wait for the MRC to process the application which will include verification and potential partnership engagement.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The grant requires the participation of both the FLI and the FLS in most cases, except where specified otherwise.
- A decision-making investment committee (CIC) has the authority to deviate from the investment proportions set forth in the partnership agreement under certain conditions.
- Exceptions to the partnership criteria require prior notice to the Fonds locaux de solidarité FTQ, s.e.c.
- All investments under this framework must respect the spirit of participation by both funds.
- There are constraints on the cumulative governmental aid applicable to funded projects, with specific terms on how such aid is calculated.
- There exists a specific interest rate determination grid employed by the investment committee to assess investment risks.
- Modifications to the investment policy necessitate prior consultations with relevant authorities and must adhere to the established limits by MEIE and Fonds locaux de solidarité FTQ, s.e.c.
- Investments cannot involve contributions classified as either reimbursable or non-reimbursable grants.
- A moratorium on repayment may be granted based on the project's needs, but precise limits apply.
Apply to this program
Enhancing Local Economic Development through Strategic Financial Support
The Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) are designed to boost local economic growth by providing strategic financial assistance to eligible projects and businesses in Quebec. These funds aim to create, maintain, and safeguard jobs while fostering entrepreneurship and sustainable development within the MRC territories.
An In-Depth Exploration of the FLI and FLS Investment Policy
The Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) are pivotal financial tools established to stimulate economic development and job creation within Quebec's municipalities régionales de comté (MRC). With a joint investment policy adopted on September 11, 2023, these funds work cohesively to support businesses that exhibit viable economic prospects and substantial socio-economic benefits.
The mission of these local funds revolves around supporting enterprises that significantly contribute to Quebec's economic footprint, thereby underlining their role in regional development strategies. By providing crucial financial support, these funds help enterprises secure the necessary working capital crucial for various business lifecycle stages including start-ups, expansions, and transformations, ensuring longevity and economic resilience.
The FLI and FLS prioritize investments that showcase a promising capacity for profitability and repayment, along with a robust managerial capability. A strong emphasis is placed on projects that actively incorporate sustainable business practices, contributing not only to economic growth but also to environmental well-being and social improvement. This approach aligns with broader governmental objectives of nurturing socially responsible enterprises.
Additionally, FLI and FLS foster inclusivity by collaborating with multiple financial partners, thereby ensuring a robust financial foundation for beneficiary projects. The funds aim to be a lever that attracts supplemental financial support, which is crucial for the successful roll-out and scaling of entrepreneurial initiatives. This collaborative spirit is central to the conditions for participation, encouraging a dependable network of financial stakeholders.
The eligibility criteria for these funds ensure that support is directed towards legally constituted profit-driven enterprises and social economy businesses operating within the designated MRC territories. This broad inclusivity is supported by strict adherence to ethical, environmental, and economic standards, ensuring that the ventures funded not only thrive but contribute positively to community standards and norms.
The financial mechanisms available through the FLI and FLS include structured loans with adaptable repayment schedules and tailored interest rates assessed based on individual project risk assessments. This flexibility allows for alignment with the financial abilities and growth potentials of diverse business models, making these funds attractive to a wide range of enterprises seeking to enhance their market competitiveness and operational capacities.
Furthermore, the commitment to the development and preservation of these funds ensures that strategic financial support will continue to stimulate local economies efficiently. This is underscored by a meticulous process of demand management and financial recovery, ensuring that resources are optimally deployed and managed.
Overall, the FLI and FLS are more than financial instruments; they are catalysts for innovation, sustainability, and economic vitality. Entrepreneurs and businesses leveraging these funds can expect to not only achieve substantial financial support but also contribute to a broader narrative of economic recovery and progress in Quebec.
