MRC Témiscamingue — Local Investment Fund Loan
Témiscamingue, QC, Canada
Personalized business support and flexible financial assistance
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
Expert Advice
grant_single|eligibleIndustries
- Health care and social assistance
- Arts, entertainment and recreation
- Accommodation and food services
grant_single|grantors
- MRC Témiscamingue
grant_single|status
grant_card_status|open
grant_single_labels|preview
<p>The grant program offers flexible and accessible financial assistance with a maximum amount of $150,000 for starting, acquiring, expanding, or consolidating a business. Eligible activities include business startup, expansion projects, and the gradual acquisition of existing businesses by young entrepreneurs aged 18 to 39.</p>
grant_single_labels|terms_and_conditions
The MRC Témiscamingue — Local Investment Fund Loan provides various flexible financial support options aimed at stimulating entrepreneurship and promoting job creation. The financing options cater to different stages of business development, from start-up to expansion.
- Term loans ranging from $5,000 to $150,000 for start-up, acquisition, expansion, or modernization of businesses.
- Youth Strategy Loan offers personal loans for young entrepreneurs aged 18 to 39, with amounts between $5,000 to $25,000, potentially supporting two young entrepreneurs per business.
- Business Succession Loan with funding between $25,000 to $150,000, aimed at facilitating business transfers to maintain employment levels.
- Interest-free period of up to 24 months following the date of initial disbursement, after which loans accrue interest at the prevailing prime rate plus 2% per annum.
- Personal loans available to assist young individuals in acquiring a minimum of 25% of an existing business's shares, promoting business continuity.
grant_single_labels|projects
This grant supports entrepreneurial projects in the MRC Témiscamingue region that focus on business creation and expansion, along with initiatives aimed at maintaining employment. The fund caters to diverse sectors excluding retail start-ups or redundant services.
- Business start-ups that do not displace existing businesses in the community.
- Expansion projects that promote job creation.
- Projects within primary agricultural and forestry sectors.
- Businesses involved in secondary and tertiary industrial transformation.
- Enterprises that align with the local economic development strategy.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific financial needs and business goals of the entrepreneur or organization.
- The applicant must be an entrepreneur or involved in a business that is in the startup, acquisition, expansion, or consolidation phase.
- For the Youth Strategy Loan, the applicant must be a young entrepreneur aged between 18 and 39.
- For the Youth Aid Loan, the applicant must be a young individual aged between 18 and 39 looking to gradually take over an existing business.
grant_eligibility_criteria|who_can_apply
This grant opportunity is available for entrepreneurs and businesses seeking financial assistance for business start-up, acquisition, expansion, or consolidation. Eligible applicants include:- Entrepreneurs needing help with business planning or financial forecasts.- Individuals or businesses looking for investments for start-up or expansion.- Young entrepreneurs aged 18 to 39 for specific youth-targeted loans.- Businesses undergoing ownership transition to retain jobs.- Local projects that contribute to economic development.The schemes are specifically tailored to different needs: from general business investments and youth-specific support to initiatives aimed at maintaining employment through business transfers. Various funds like Créavenir - Desjardins, Fonds séduction tourisme, and Fonds TA PME are also available to complement existing financial support programs.
grant_eligibility_criteria|eligible_expenses
The grant covers expenses related to business development, entrepreneurship stimulation, and business succession.
- Financial support for business start-up, acquisition, expansion, or modernization.
- Funding for youth entrepreneurs to acquire a portion of an existing business.
- Expenses related to transferring a business to maintain employment.
grant_eligibility_criteria|zone
The MRC Témiscamingue Local Investment Fund Loan is specifically targeted at businesses operating within the MRC de Témiscamingue region. This geographic focus is intended to promote local entrepreneurship and economic development.
- Businesses located within the MRC de Témiscamingue, Quebec, Canada.
grant_single_labels|criteria
The evaluation and selection of projects for this grant require detailed criteria to ensure strategic alignment but specific criteria are not detailed in the provided context.
grant_single_labels|register
- Step 1: Gather Necessary Documentation
- Prepare a comprehensive business plan outlining your business objectives.
- Develop detailed financial forecasts and projections.
- Identify potential financing and grant opportunities applicable to your business needs.
- Step 2: Seek Advisory Assistance
- Contact the grant provider's advisory team for personalized guidance tailored to your business goals.
- Utilize available consulting services to enhance your application.
- Get references to specialized resources that may assist in strengthening your application.
- Step 3: Complete Grant Application Form
- Fill out the application form with accurate and detailed information.
- Ensure all required fields are completed and all documents are attached.
- Step 4: Submit Application
- Submit your complete application through the specified submission portal or address provided by the grant provider.
- Keep a copy of your submission for reference and tracking purposes.
- Step 5: Follow Up
- Monitor communications for any updates or additional information requests from the grant provider.
- Respond promptly to any queries to ensure smooth processing of your application.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Various financial aid options are available depending on the nature of the entrepreneurial project, such as starting, acquiring, expanding, or modernizing a business.
- Specific funds like Créavenir - Desjardins, Fonds séduction tourisme, and Fonds TA PME provide complementary financing options.
- Local economic development initiatives are supported by the Société de développement and the SADC du Témiscamingue, acting as initiators, partners, and supporters of local projects.