MRC Témiscamingue — Local Investment Fund Loan
Overview
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.
At a glance
Funding available
- Improve employee retention
- Maximum amount : 150,000 $
- Minimum amount : 5,000 $
- Open continuously
Eligible candidates
- Health care and social assistance
- Arts, entertainment and recreation
- Accommodation and food services
- Témiscamingue
- Temiscaming
- Abitibi-Témiscamingue
- Quebec
- Non-profit
- Public or Parapublic institution
- For-profit business
- Sole proprietorship
- Social economy enterprise
- All revenue ranges
- All organization sizes
- Rural or Northern Residents
- Youth (<40)
- Startups
- Economic, Social and Community Development
- Employment and Training
- Business Associations
- Young adults
- Rural / Remote communities
- Business owners / entrepreneurs
- Nonprofits / charities
- All structures
- Local
- Regional
Activities funded
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.
Eligibility
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.
Who is eligible?
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.
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.
Eligible geographic areas
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.
Selection 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.
How to apply
Assessment of needs
- Analyze your company's needs in terms of startup, acquisition, expansion, or consolidation.
- Identify the most suitable type of funding from the available options: Investment Fund Loan, Youth Strategy Loan, Company Succession Loan, etc.
Elaboration of the business plan
- Prepare a business plan that includes financial forecasts and objectives to be achieved.
- Use consulting services to strengthen your proposal and maximize your chances of success.
Consultation with experts
- Benefit from personalized support for finding adequate funding and grants.
- Referral to specialized resources if necessary.
Compilation of documents
Submission of the request
- Submit the funding request with all compiled documents to the appropriate funding agency.
- Check all the information to ensure the completeness and accuracy of the application.
Follow-up on the request
- Wait for confirmation of the receipt of your request.
- Follow the instructions for any additional steps required by the relevant organization.
Additional information
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.
