MRC Témiscamingue — Investment Fund Loan QC Canada

MRC Témiscamingue — Investment Fund Loan

QC, Canada
Business project support and flexible financial aid program
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|fromMinToMax
grant_single|deadlines
  • grant_single|openingDateJanuary 01, 2023
  • grant_single|closingDateJune 01, 2032
  • grant_single|grantStatusClosed
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
  • Agriculture, forestry, fishing and hunting
  • Manufacturing
grant_single|grantors
  • MRC Témiscamingue
grant_single|status
grant_card_status|open

grant_single_labels|preview

This grant program offers flexible and accessible financial assistance up to $150,000 to support the startup, acquisition, expansion, or consolidation of businesses. It aims to nurture entrepreneurship, create jobs, and ensure the successful transfer of businesses to maintain employment.

grant_single_labels|projects

This grant supports a variety of initiatives designed to enhance local economic development and foster entrepreneurship. The eligible activities are aimed at various aspects of business advancement and community enhancement.
  • Business planning and financial forecasting.
  • Research for funding and grant opportunities.
  • Supporting new business startups and expansions through financial aid.
  • Facilitating business succession to maintain employment and local economic stability.
  • Encouraging young entrepreneurs to invest in and acquire existing businesses.
  • Providing technical and financial support for projects that stimulate job creation in the Témiscamingue region.
  • Promoting second and third transformations of products in the agricultural and forestry sectors.

grant_single_labels|admissibility

Eligibility for this grant is determined by specific requirements related to the applicant's profile and business activities.
  • The applicant must be an enterprise with one of the following legal structures:
  • Sole proprietorship
  • Partnership
  • Corporation
  • Non-profit organization
  • Social economy organization
  • For "Youth Strategy" and other youth-focused loans, the applicant must be a young entrepreneur aged 18 to 39, holding at least 51% of the company's shares or interests.
  • Eligible sectors for business activities include secondary and tertiary transformation, primary agriculture and forestry, excluding retail or existing service businesses in the same community, residential real estate, and sectors related to sex, religion, politics, or alcohol.
  • Proof must be provided that the business's launch will not result in the displacement of clientele from an existing business.

grant_eligibility_criteria|who_can_apply

This grant primarily targets entrepreneurs and small businesses in different stages, such as startup, acquisition, expansion, or business transition phases. Special attention is given to young entrepreneurs between the ages of 18 to 39, fostering youth involvement in businesses. Additionally, it supports local economic development initiatives and projects in specific regions like Témiscamingue. Applicants can include:- Entrepreneurs looking to start or acquire a business.- Businesses needing assistance with expansion or modernization.- Young entrepreneurs aged 18 to 39.- Enterprises involved in business transition to maintain employment.- Projects contributing to the local economic development of regions such as Témiscamingue.

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 toward strategic sectors aligned with the grant's objectives.
  • Start-up of retail businesses or services in a community where this service already exists.
  • Residential real estate projects.
  • Sectors related to sex, religion, politics, or alcohol distribution.
  • Enterprises that lead to the displacement of customers from an existing business.

grant_eligibility_criteria|eligible_expenses

The funds and loans described are intended to support various business-related expenses for the creation, acquisition, expansion, or modernization of enterprises.
  • Purchase of equipment, terrains, and buildings necessary for the business.
  • Working capital to support business operations and growth.

grant_eligibility_criteria|zone

This grant funding is specifically tailored for businesses operating in the Témiscamingue region according to the funding guidelines. The funds are managed by the Société de développement et la SADC du Témiscamingue, reinforcing the local economic ecosystem.
  • Businesses located in the region of Témiscamingue.

grant_single_labels|criteria

The evaluation and selection of projects under this grant focus on several key criteria to assess financial feasibility and impact.
  • Rentability: Anticipated revenues based on the market are sufficient to cover expenses and generate profits.
  • Management Team: Skills, experience, training, and networks of the leadership are considered.
  • Repayment Capacity: The business must demonstrate its ability to fulfill all capital and interest payments on its loans.
  • Debt Ratio: Ideally less than 80%.
  • Value of Guarantees and Indemnities.
  • Job Creation and Retention: The potential to create and maintain employment is evaluated.

grant_single_labels|register

Here are the steps to submit an application for the grant:
  • Step 1: Determine Eligibility
  • Review the eligibility criteria provided by the fund to ensure your project fits the requirements.
  • Identify the type of loan or grant that suits your business needs (e.g., Investment Fund Loan, Youth Strategy Loan, Business Succession Loan).
  • Step 2: Gather Required Documentation
  • Prepare a detailed business plan that includes your market analysis, strategies, and financial forecasts.
  • Financial statements or projections if applying for a loan that requires them.
  • Ensure you have any required personal identification documents ready for young entrepreneurs.
  • Step 3: Contact Fund Provider
  • Reach out to the fund provider for guidance and to express interest in applying.
  • Seek any specific application forms and guidelines you need to follow.
  • Step 4: Complete Application
  • Fill out all required fields in the application form accurately.
  • Ensure all supporting documents and the application are properly compiled.
  • Step 5: Submit Application
  • Submit the completed application form and all supporting documents by the specified deadline.
  • Utilize the online portal or submit via email/mail if instructed.
  • Step 6: Confirmation of Receipt
  • Await confirmation from the fund provider that your application has been received.
  • Keep a record of this confirmation for future reference.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:
  • Interest rates for loans vary based on the base rate set by the Bank of Canada plus an additional 2% to cover risk, renewed annually.
  • There is a 24-month interest-free period following the initial loan disbursement.
  • The financial programs are focused on facilitating enterprise continuation and job preservation, particularly for young entrepreneurs and entrepreneurs stepping into ownership roles.
  • Specific funds are available for different business life-cycle stages: start-up, expansion, acquisition, and business succession.
  • There are listing sectors prioritized for funding, such as agricultural and forestry primary industries, and second or third-stage processing activities.
  • There are specific exclusions, including religious, political activities, and certain services and goods already provided in similar markets.
  • The financial support aims to nurture and retain locational business decision-making and employment opportunities.

Apply to this program