MRC Témiscamingue — Tourism Attraction Fund

• Minimum financial support of $5,000 per project.
• Maximum financial support of $20,000 per project.
• Mandatory private contribution between 15% and 25% of the project budget.
• Maximum financial support period of 5 years.
• No interest charged for the entire duration of the loan.

• The applicant must be a legally constituted company, which may include a sole proprietorship, general partnership, corporation, social economy enterprise, or legally established cooperative.
• The company must have its head office located within the tourism territory of the MRC de Témiscamingue.
• The project must target a predominantly tourist clientele.
• The applicant must submit a comprehensive business plan demonstrating financial viability.
• The project must comply with all applicable laws and regulations in Quebec.

Who is eligible?

• Existing legally constituted companies not yet active in tourism but planning to develop new tourism services
• New legally constituted companies
• Sole proprietorships
• General partnerships
• Corporations
• Social economy enterprises
• Legally constituted cooperatives

Who is not eligible

• Businesses whose main activity is in the restaurant sector.
• Companies without their head office located in the MRC de Témiscamingue tourism area.

Eligible expenses

• Capital expenses for land, buildings, equipment, and machinery
• Acquisition of technologies, software, or software packages
• Working capital for business operations during the first year of start-up or new service launch

Eligible geographic areas

• Businesses with their head office located in the MRC de Témiscamingue tourist area, Quebec.

• Profitability: Projected revenues must cover expenses and generate a surplus.
• Management Team: The team's knowledge, experience, training, and networks are evaluated.
• Repayment Capacity: The company must demonstrate the ability to repay the principal on all loans.
• Debt Ratio: Ideally, the company's debt ratio should be below 80%.
• Value of Guarantees and Sureties.
• Job Creation and Retention.

• An opening fee applies, calculated as 1% of the loan amount, with a minimum of $100.
• Loan guarantees may involve movable or immovable mortgages, which can be second rank if residual value exists on the assets.