Saguenay Promotion — FRR – Business Support

Who is eligible?

• Cooperatives
• Private enterprises
• Social economy enterprises
• Individuals wishing to start a business

Who is not eligible

• Private companies in the financial sector.
• Financial cooperatives.
• Businesses in the real estate sector.
• Companies not located within the city of Saguenay.
• Organizations whose main purpose is protected by the Canadian Charter of Rights and Freedoms (such as religion, politics, or rights advocacy).
• Companies listed in the Register of enterprises ineligible for public contracts.
• Businesses that have failed to meet obligations related to previous government grants within the last two years, after formal notice.

Eligible expenses

• Capital expenditures for land, building, equipment, machinery, and vehicles.
• Costs related to incorporation fees or similar legal expenses.
• Acquisition of technologies such as know-how, licenses, manufacturing agreements, patents, software, or similar items.
• Professional fees for studies.
• Job creation expenses for major projects.
• Working capital requirements.

Eligible geographic areas

• Companies located within the territory of the City of Saguenay.

• Viability and profitability of the project.
• Competencies of the project promoters.
• Economic, social, or environmental impacts on the Saguenay territory.
• Investments generated by the project.
• Analysis of market competition to ensure real employment growth.

• Step 1: Initiate Contact
  • Contact a Promotion Saguenay economic development advisor to discuss your project and funding needs.
• Step 2: Prepare Application Dossier
  • Work with your assigned advisor to compile a complete support request file.
  • Include required documentation such as a business plan, project description, previous financial statements (if applicable), and other relevant materials as outlined in the funding policy.
• Step 3: Submit Application
  • Submit the complete application dossier to Promotion Saguenay through your advisor.
• Step 4: Eligibility Verification
  • Promotion Saguenay verifies the eligibility of your project based on established criteria.
  • Ineligible applicants are informed promptly.
• Step 5: Project Analysis
  • A Promotion Saguenay economic development advisor analyzes the application file and prepares it for review.
• Step 6: Investment Committee Review
  • The advisor presents the file to the investment committee for evaluation.
  • Certain applications may be presented directly to the board of directors.
• Step 7: Board Recommendation and Decision
  • The board of directors reviews the committee’s recommendation and decides on the application.
• Step 8: Notification of Decision
  • The applicant receives a formal response indicating whether support is granted.
• Step 9: Satisfaction of Conditions
  • If approved, detailed conditions for support are communicated to the applicant, who must agree to these terms.
• Step 10: Disbursement and Implementation
  • Once all conditions are satisfied and the agreement is signed, funding is disbursed to enable project implementation.
• Step 11: Monitoring and Follow-up
  • Promotion Saguenay monitors the project and conducts follow-up activities as required.

• Promotion Saguenay reserves the right, in exceptional circumstances, to waive certain eligibility conditions.
• The financial assistance provided is not recurring for the same project, the same beneficiary, or its subsidiaries.
• If a project receives funding from a government program, FRR support may be issued to cover non-funded expenses without exceeding the permitted government aid accumulation.
• A funding agreement must be signed prior to any disbursement of funds.