MRC Témiscamingue — Tourism Attraction Fund
Ville-Marie, QC, Canada
Témiscamingue Tourism Seduction Fund supports innovative tourism projects
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Arts, entertainment and recreation
- Accommodation and food services
grant_single|grantors
- MRC Témiscamingue
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds Séduction en Tourisme aims to stimulate the creation of new businesses and services in the Témiscamingue tourism sector, offering up to $20,000 in funding. Eligible activities include adventure-nature tourism, outdoor services, and cultural projects, excluding restaurants.
grant_single_labels|terms_and_conditions
This grant offers specific financing modalities to bolster new tourism initiatives within the MRC de Témiscamingue region, supporting a range of project types within the tourism sector.
- The financial intervention ranges from a minimum of $5,000 to a maximum of $20,000.
- Borrowers are required to provide a private contribution ranging between 15% and 25% of the total project cost.
- The financing term can extend up to a maximum of 5 years.
- The loan is offered with zero interest over the entire duration of the term.
grant_single_labels|projects
This grant is aimed at boosting the tourism sector in the Témiscamingue region by supporting projects that offer new, complementary services to existing ones, stimulating economic growth and increasing tourist numbers.
- Development of adventure and nature tourism services.
- Creation of outdoor recreational services such as guiding, equipment rental, and accommodation facilities.
- Enhancement of cultural tourism experiences to attract more visitors.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific criteria for businesses seeking to enhance the tourism sector in the MRC de Témiscamingue.
- Existing businesses that are legally constituted and not currently active in the tourism sector but aim to develop new tourism services.
- Newly established legally constituted businesses, which can include sole proprietorships, partnerships, corporations, social economy enterprises, and legally constituted cooperatives.
grant_eligibility_criteria|who_can_apply
Eligible applicants for this grant include:1. Existing legally constituted companies that are not currently active in the tourism sector but wish to develop a new tourism service offering.2. Newly legally constituted enterprises which can be:- Sole proprietorship- Partnership- Corporation- Social economy enterprise- Legally constituted cooperativeThese applicants must be located within the Témiscamingue area and aim to contribute significantly to the region's tourism sector.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain companies and industries based on their current operational status. The focus is on supporting new or expanded tourism services in the Témiscamingue region.
- Existing companies already operating in the tourism industry.
- Restaurants as they are specifically excluded despite being part of the broader tourism sector.
grant_eligibility_criteria|eligible_expenses
The grant covers specific expenses directly related to the development and functioning of new or existing tourist services.
- Capital expenses such as land, building, equipment, and machinery.
- Acquisition of technologies, software, or software packages.
- Working capital for business operations during the first year of operation for start-ups or new services.
grant_eligibility_criteria|zone
The MRC Témiscamingue Tourism Attraction Fund is specifically targeted at companies located within a certain geographical area to enhance regional tourism offerings. Eligible areas are pinpointed to foster local economic growth through tourism development.
- Companies with their head office located on the tourist territory of the MRC de Témiscamingue.
grant_single_labels|criteria
The evaluation and selection of projects for this grant are based on specific criteria designed to ensure the feasibility, impact, and sustainability of the proposed tourism initiatives.
- Profitability: Projected revenues based on market analysis should cover expenses and generate surplus.
- Management Team: Knowledge, experience, education, and networks of the leadership team are considered.
- Repayment Capacity: The project's generated funds should demonstrate the ability to cover total principal repayments on borrowings.
- Debt Ratio: Ideally below 80% to ensure financial stability.
- Value of Guarantees and Security: Assessment of provided collateral and its adequacy.
- Creation and Maintenance of Jobs: Focus on employment opportunities generated and sustained by the project.
grant_single_labels|register
- Step 1: Assess Eligibility
- Ensure your business is legally constituted in the appropriate forms such as a sole proprietorship, partnership, corporation, social economy enterprise, or cooperative.
- Verify that the business’s headquarters is located in the tourism area of MRC de Témiscamingue.
- Confirm that the project aligns with the objectives and sectors outlined, excluding the restaurant sector.
- Step 2: Develop Business Plan
- Prepare a comprehensive business plan demonstrating financial viability.
- Highlight how the project will foster new services and stimulate the local economy through job creation, new businesses, or increased tourism.
- Step 3: Prepare Documentation
- Assemble necessary documentation including financial statements and details of private source contributions (15% to 25%).
- Compile any required documents demonstrating compliance with Québec laws and regulations.
- Step 4: Application Submission
- Contact the Société de développement du Témiscamingue for guidance or clarification if needed.
- Submit the completed application along with all required documentation to the Société de développement du Témiscamingue via their specified method.
- Step 5: Pay Application Fee
- Ensure payment of the opening fee, which is 1% of the loan amount or a minimum of $100.
- Step 6: Await Evaluation and Decision
- After submission, wait for the assessment of the application based on profitability, management experience, repayment ability, debt level, and employment impact.
grant_single_labels|otherInfo
The following are additional relevant details for applicants to the Fonds Séduction Tourisme grant:
- The loan offers an interest-free period for the entirety of its duration, which is a maximum of 5 years.
- Applicants are required to provide a private source contribution ranging from 15% to 25% of the project cost.
- Frais d'ouverture, or application fees, are calculated at 1% of the loan amount with a minimum charge of $100.
- The funding is disbursed as either a guaranteed or non-guaranteed term loan, with guarantees potentially being second-rank if there is residual value on movable or immovable properties.
grant_single_labels|contact
info@lasdt.com
819 629-3355
Apply to this program
Tourism Seduction Fund for Innovative Projects
The Tourism Seduction Fund, established by the MRC de Témiscamingue in collaboration with the Société de développement du Témiscamingue, provides financial support to businesses seeking to enhance the tourism appeal of the Témiscamingue region. This fund helps to stimulate the economy by fostering new tourism services, job creation, and innovative businesses.
Detailed Insights into the Tourism Seduction Fund and Its Contributions
The Tourism Seduction Fund is a pivotal initiative aimed at enhancing the tourism landscape of the Témiscamingue region by supporting innovative and impactful projects. The fund's main goal is to develop a unique and complementary range of tourism services that not only elevate the existing offerings but also attract increased tourist traffic to the area. By doing so, it aims to ignite economic activity via the creation of new jobs, businesses, and services specifically designed to cater to the tourism sector.
This fund targets legally established businesses that aspire to venture into the tourism industry, including those not previously engaged in tourism-related activities. Eligible entities range from sole proprietorships and partnerships to corporations and cooperatives within the social economy framework. Priority is given to enterprises focusing on adventure-nature tourism, outdoor activities, and cultural services, excluding ventures predominantly in the restaurant industry. The financial assistance is structured as term loans, both secured and unsecured, with the possibility of utilizing existing movable or immovable assets as collateral.
The fund is committed to making a tangible economic impact by ensuring that new tourism initiatives contribute significantly to employment growth and the overall economic vitality of the Témiscamingue region. Projects backed by this fund also benefit from a comprehensive financial package, offering loans ranging from $5,000 to $20,000 with zero interest over a maximum period of five years. This includes an obligatory private sector contribution ranging between 15% to 25% of the total investment. The financial support focuses primarily on capital expenditures, technology acquisition, and operational costs for the initial year of business establishment or for launching a new service.
Eligibility for funding requires that the business maintains a headquarters within the Témiscamingue tourism zone and targets a clientele that is significantly tourism-based. A comprehensive business plan demonstrating financial viability is also a prerequisite. Projects must comply with the legal and regulatory framework of Quebec to ensure ethical and sustainable development practices. A minimal opening fee is applied, calculated as 1% of the loan amount, but not falling below $100.
The evaluation criteria for funding are stringent, ensuring that only projects with high potential for profitability, effective leadership, and sound financial management are selected. These include considerations of profitability, leadership team expertise, repayment capacity, and an ideal debt ratio of less than 80%. The value of guarantees and sureties alongside the ability to create and sustain jobs are also crucial evaluation points.
Overall, the Tourism Seduction Fund plays an integral role in driving Témiscamingue's tourism sector forward, paving the way for sustainable economic growth and a vibrant community. Through strategic support and targeted funding, it opens up avenues for businesses to innovate and expand their reach, contributing significantly to the region's tourism economy.