MRC Témiscouata — Local Investment Fund (FLI) / Local Solidarity Fund (FLS) QC Canada

MRC Témiscouata — Local Investment Fund (FLI) / Local Solidarity Fund (FLS)

QC, Canada
Investment funds supporting Quebec's economic and employment development
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|noCondition
grant_single|deadlines
  • grant_single|openingDateApril 08, 2024
  • grant_single|closingDateApril 08, 2025
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
  • Manufacturing
  • Professional, scientific and technical services
  • Health care and social assistance
  • Other services (except public administration)
  • Public administration
grant_single|grantors
  • MRC Témiscouata
grant_single|status
grant_card_status|open

grant_single_labels|preview

The Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) aim to invest in Quebec-based enterprises to stimulate their growth and sustain or create employment, with a maximum funding amount of $150,000 for FLI and $100,000 for FLS. Eligible activities include business start-up, entrepreneurial succession, business acquisition, improvement and transformation, business growth and expansion, and temporary financing projects.

grant_single_labels|projects

This grant supports various business initiatives aimed at startup growth, business transformation, and ensuring leadership transition. The eligible projects focus on enhancing productivity, supporting entrepreneurial succession, and promoting expansion activities.
  • Startup projects that are in the commercialization phase aimed at reaching profitability.
  • Entrepreneurial succession where individuals or groups acquire significant ownership to lead existing businesses.
  • Business acquisition involving the purchase of assets or shares of a company for strategic growth.
  • Improvement and transformation projects focusing on digital transformation and sustainable operational practices.
  • Corporate growth and expansion projects, including the introduction of new products, services, and export initiatives.
  • Short-term financing (bridge financing) to cover temporary financial gaps until confirmed revenue sources materialize.
  • Corporate turnaround projects aimed at stabilizing financially struggling businesses with strong management and support.

grant_single_labels|admissibility

Eligibility for this grant is determined by specific requirements related to the company's registration, location, and compliance with economic and social criteria.
  • The company must be a for-profit entity legally constituted under the laws of the Government of Quebec or Canada, or a collective enterprise such as a cooperative or non-profit organization with commercial activities, as per the Social Economy Act (RLRQ, chapter E 1.1.1).
  • The company must operate within the territory of the MRC Témiscouata and have its registered office in Quebec.
  • The company must be registered in the Quebec Enterprise Register (REQ).
  • For the FLS, social economy enterprises must meet additional conditions specified in Annex A.
  • It must not be involved in sectors or activities that are excluded according to the investment policy, such as arms production, fossil fuel extraction, gambling operations, violent sports, sexual exploitation, and more.
  • The company should have a net equity after the project of at least 15% of total assets, indicating financial stability.

grant_eligibility_criteria|who_can_apply

Eligible applicants for the Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) include legally constituted for-profit enterprises under the laws of Quebec or Canada, as well as collective enterprises like cooperatives and non-profit organizations (OBNL) with commercial activities, operating within the Municipalité Régionale de Comté de Témiscouata. Additionally, the company must have its headquarters in Quebec and be registered with the Quebec Business Register (REQ). The eligibility extends to those operating in sectors prioritized by the MRC, facilitating the region's economic development.

grant_eligibility_criteria|who_cannot_apply

This grant excludes certain companies and industries due to their status, past conduct, or primary business activities. The restrictions are put in place to ensure the funds are directed towards ethical and sustainable business practices.
  • Companies listed on the Register of enterprises ineligible for public contracts (RENA) or whose subcontractors are listed in RENA for project-related work.
  • Applicants who have failed to meet obligations in previous financial aid projects within two years prior to the application.
  • State-owned or government-controlled corporations, whether at the municipal, provincial, or federal level.
  • Companies under protection of the Companies' Creditors Arrangement Act (RSC 1985, c C-36) or the Bankruptcy and Insolvency Act (RSC 1985, c B-3).
  • Entities with unethical behavior that could tarnish the image of integrity of the government or regional county municipality.
  • Companies with environmentally irresponsible practices according to applicable legislation.
  • Organizations with a history of violating labor standards or human rights laws.
  • Companies involved in the production or distribution of armaments.
  • Businesses engaged in fossil fuel activities, except those supporting a transition to a low-carbon economy.
  • Businesses in gambling-related activities, including casinos and bingo halls.
  • Businesses engaged in violent gaming, combat sports involving any live species, races, or similar activities.
  • Businesses involved in sexual exploitation, including erotic bars and agencies, erotic massage parlors, or swingers clubs, and pornography production.
  • Real estate management and development businesses; however, projects improving tenant or resident services might be funded.
  • Companies producing, selling, or servicing tobacco or drugs; exceptions are made for FLI investments in cannabis and industrial hemp under certain conditions.
  • Financial interventions in recreational cannabis products and non-Health Canada approved medical cannabis products are not allowed with FLI or FLS.

grant_eligibility_criteria|eligible_expenses

The grant FLI covers eligible expenses that are directly linked to the realization of startup, improvement, transformation, growth, expansion, and entrepreneurial succession projects.
  • Additional working capital needs for a maximum period of two years, covering the year of the project's implementation and the following year, based on justified and reasonable expenses.
  • Capital expenditures that are strictly and directly related to the realization of the business project, such as acquisition of technology, land, buildings, equipment, machinery, and rolling stock, including construction, expansion, renovation, landscaping, and interior design.
  • Professional fees prior to the realization of the company's project, including feasibility analysis, external audit, or impact assessment.
  • Professional fees that are strictly and directly related to the realization of the company's project, such as technology implementation and the acquisition, construction, renovation, and landscaping of premises.
  • For entrepreneurial succession, expenses for acquiring ownership titles of the targeted company (voting shares or stakes) and the company's assets.
  • Professional fees that are strictly and directly related to the transaction and acquisition of the company, as well as the transfer of the company's management.

grant_eligibility_criteria|zone

The grant is specifically available for companies that operate within the territorial boundaries of the MRC of Témiscouata. Eligible companies are required to have their headquarters established in the province of Quebec.
  • Companies must operate within the territory of the MRC of Témiscouata.
  • The business must have its headquarters located in Quebec.

grant_single_labels|criteria

The evaluation and selection of projects for the Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) grant are based on their economic viability, the experience of promoters, and their socio-environmental impact.
  • Economic viability of the financed enterprise – demonstration of permanent profitability and good future prospects.
  • Promoters’ knowledge and experience – relevance and adequacy in the domain and management expertise.
  • Environmental and societal impact – contribution to a sustainable socio-economic environment.
  • Openness towards workers – consideration of employment relations and worker involvement.
  • Use of funds not purely for subcontracting or privatization, which merely shift economic activities.
  • Participation of other financial partners – desire for capital from other sources.
  • Permanence and sustainability of funds – impact on the portfolio and fund longevity.

grant_single_labels|register

Here are the steps to submit an application for the Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) grant:
  • Step 1: Review Eligibility
  • Ensure your business meets the eligibility criteria outlined in sections 3.1 to 3.3 of the investment policy.
  • Consider the admissible project types mentioned in section 3.4, such as business startup, improvement, transformation, growth, and entrepreneurial succession.
  • Step 2: Gather Required Documentation
  • Complete the financial aid request form with required information.
  • Prepare a business plan or detailed project description as needed.
  • Provide detailed breakdown of project expenses, project financial arrangement, and confirmation of other related funding or financial support.
  • Include the last three years of financial statements and interim financial statements if applicable.
  • Supply forecasted financial statements.
  • Submit a statement of compliance regarding language requirements or a copy of the francization certificate, if necessary.
  • Present a compliance statement regarding employment equality or a copy of the Employment Equity Program, if required.
  • Include any other documentation as required by the MRC.
  • Step 3: Submit Application
  • Ensure all documentation is complete and accurate.
  • Submit your application and all supporting documents to the MRC by the last day of the month before the date of the next committee meeting for financial aid requests.
  • Step 4: Await Review
  • The MRC will review applications on an ongoing basis, ensuring fair treatment and compliance with available budgets and policy standards.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:
  • The partnership between the FLI and FLS involves utilizing a single loan contract, detailing the total combined loan amount and a weighted interest rate.
  • The split of investment sources will appear as separate portions in the loan agreement when terms differ, such as moratoriums or amortization schedules.
  • The sharing of investment responsibilities between FLI and FLS may be adjusted in cases where financial risk is too high for one of the funds.
  • The maximum cumulative government aid for projects involving FLI should not exceed 50% of total project costs, or 80% for social economy enterprises.
  • A weighted interest rate is communicated to the client, determined by the risk and amortization rate, and varies between FLI and FLS.
  • In exceptional situations, the CIC can request a deviation from the investment framework, which must abide by FTQ guidelines and not result in a negative net equity post-project.
  • The investment policy is subject to modification, provided any changes align with MEIE and FTQ frameworks and must be filed accordingly.
  • The FLI might offer loan guarantees, ensuring additional loan security options.
  • The ultimate goal is to maintain fund sustainability, thus careful consideration is given to fund leveraging through partnerships and other capital sources.

Apply to this program