RCM de la Mitis — FLI/FLS

• Completed, dated, and signed financial aid application form
• Business plan and/or detailed project description (as required in the application)
• Detailed breakdown of project-related expenses
• Financial structure of the project, including confirmation of any other financial aid or funding related to the project
• Financial statements (last 3 years, and/or interim if required, and forecast)

Who is eligible?

• For-profit companies legally incorporated (Quebec or Canada).
• Collective businesses: cooperatives.
• Social economy enterprises (NPOs with commercial activities) as defined by the Social Economy Act.
• Proximity service enterprises.
• Enterprises aimed at succession (transfer/resumption) and territorial economic diversification (development of value chains).

Who is not eligible

• Companies registered in the Register of non-admissible companies for public contracts (RENA), including the subcontractors indicated in the project who are registered there.
• Private companies in the financial sector and financial cooperatives.
• State-owned companies and companies controlled (directly or indirectly) by a government, or majority-owned by a state-owned company.
• Companies under the protection of the Bankruptcy and Insolvency Act or the Companies Creditors Arrangement Act.
• Companies operating (in whole or in part, except with prior waiver) in excluded sectors: armaments, fossil fuels (except low-carbon transition activities), gambling and betting, violent games/combat sports involving live animals, sexual exploitation, property management and development (except projects related to tenant/resident services), tobacco and drugs (with specific restrictions for cannabis/industrial hemp).

Eligible expenses

• Need for additional working capital, strictly necessary for the project execution (for a maximum period of 2 years).
• Capital expenditures directly related to the project: acquisition of technology, land, buildings, equipment, machinery, and rolling stock.
• Works directly related to the project: construction, extension, renovation, and development of land and premises.
• Professional fees prior to the project (e.g., feasibility analysis, external audit, impact study).
• Professional fees directly related to the execution of the project (e.g., implementation of technology, equipment, or machinery; acquisition, construction, renovation, and development of land and premises).
• For an entrepreneurial succession project: acquisition of shares/parts (ownership titles) and/or assets of the target company.
• For an entrepreneurial succession project: professional fees directly related to the transaction, acquisition, and transfer of management of the company.

Ineligible Costs and Activities

• Expenses incurred before the submission of the application.
• Debt service and loan repayments (including capital losses, capital replacements, or capital payments disbursed).
• Transactions between related businesses or partners.
• Research and development (R&D) expenses.
• Expenses related to the normal operation of the business and applicable sales taxes in Quebec.

Eligible geographic areas

• Territory of the MRC of La Mitis (Quebec).
• Quebec (head office in Quebec).

• Economic viability of the project (profitability, repayment capacity, and outlook).
• Skills of the promoters (knowledge/experience in the field and management abilities, or access to support resources in case of weaknesses).
• Environmental and societal impacts, particularly the adoption of sustainable business practices contributing to the socio-economic and environmental balance of the territory.
• Openness towards workers and approach to labor relations.
• Involvement of other financial partners, including the engagement of a financial institution and the promoters' own investment.

• Step 1: Contact (mandated organization)
  • Contact Mitis in Business (CLD), responsible for processing requests (eligibility, analysis, and decision).
• Step 2: Preparation of the file (form and documents)
  • Complete, date, and sign the financial assistance application form.
  • Prepare the business plan and/or detailed description of the project (as required in the application).
  • Prepare a detailed breakdown of the expenses related to the project.
  • Prepare the financial setup of the project and confirmation of any other financial assistance or funding related to the project.
  • Gather the financial statements from the last three years.
  • Provide interim financial statements if the financial statements are over six (6) months old or if the company has been in existence for less than a year.
  • Prepare projected financial statements.
  • Attach a declaration of compliance related to Francization or a copy of the Francization certificate (if applicable).
  • Attach a declaration of compliance related to employment equity or a copy of the Employment Equity Access Program (if applicable).
  • Add any other document required by Mitis in Business.
• Step 3: Submission of the application (transmission)
  • Transmit the complete application and all required documents to Mitis in Business (CLD) (applications are processed when all required information and documents have been provided).
• Step 4: Analysis and decision (ongoing processing)
  • Wait for the analysis of the file by Mitis in Business (CLD), carried out continuously according to the receipt of documents, budgetary availability, and compliance with management terms.

• Processing and continuous analysis of requests once all required information and documents have been received.
• Verification of eligibility, followed by project analysis respecting equity among businesses, budget availability, and current terms and conditions.
• Decision to grant funding made by the Joint Investment Committee (CIC) of Mitis en Affaires (CLD), according to the Joint Investment Policy FLI/FLS.
• Regular ratification of CIC decisions by the board of directors of Mitis en Affaires (CLD), upon presentation of an investment sheet.
• Granting and monitoring of loans made by Mitis en Affaires (CLD) for and on behalf of the MRC de La Mitis.

• The MRC de La Mitis offers multiple funds to financially support projects aimed at economic development and job creation within its territory.
• Under a delegation agreement, Mitis en Affaires acts as the MRC’s representative for local economic development and is responsible for applying the MRC’s general investment and financial assistance policy.
• Investment and financial assistance documentation is available, including an “enterprise investment and financial assistance policy” and a “resource allocation and intervention plan.”
• Monthly investment lists are published by year; for 2020, only COVID-19 emergency assistance was granted.