Financial Help
 In order to support entrepreneurs in the implementation, turnaround and/or restructuration of their project, the Pays-d'en-Haut CLD has at its disposal numerous sources of financing.
To learn more about funds and programs available, please consult the following documents:
YOUNG PROMOTERS' FUND
YOUNG PROMOTERS (JP)
The JP Program is designed to help young promoters create their first enterprise by offering them technical and financial assistance.
Eligibility Criteria
The Entrepreneur must:
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Be between 18 and 35 years old;
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Be a Canadian citizen or a landed immigrant and a permanent resident of Québec; |
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Agree to work full time for the enterprise created, that is, not employed elsewhere or registered full time in a program of education.
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The Business Project must:
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Offer excellent possibilities of feasibility and profitability;
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Create a minimum of two (2) permanent jobs or the equivalent in person/year (including the employment of the owner or owners) within two (2) years following the start of the project;
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Include capital expenses;
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Be financed in part by an investment contributed by the entrepreneur; |
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Demonstrate to the members of the Committee for the Young Promoters' Program that financial assistance is crucial to the realization of the project.
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Privileged Sectors:
Primary, Secondary and Tertiary-motor (including Tourism)
Investment Criteria
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The basic criterion for investing in the business is the viability of the firm.
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Promoters must demonstrate that they have the pertinent know-how and experience in their sphere of activity along with an excellent awareness of management techniques and skills.
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The Business Plan must demonstrate continued profitability, excellent prospects for the future and carry a significant economic impact.
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The project must generate economic benefits as regards job creation.
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Type of Help
The amount granted is equal to the entrepreneur's cash investment up to a maximum of $5,000. This financial help will be in the form of a non-reimbursable contribution.
Terms & Conditions
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Submit a Business Plan demonstrating the project's viability and profitability.
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The file will be analysed by the Committee for the Young Promoters Fund and submitted to the Administration Council of the CLD for approval.
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Admissible Expenses
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Capital expenses such as lot, building, equipments, machinery, rolling stock, incorporation fees and any other expenses in kind, goodwill expenses excluded;
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Rolling stock requirements directly related to the firm's operations as calculated for the 1 st year of operation;
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Acquisition of technologies (know-how, licensing or manufacturing agreement, patent), software or program packages and any other expenses in kind.
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LOCAL INVESTMENT FUND
(FLI)
The FLI is a Local Investment Fund intended for the creation and retention of jobs, and for Social Economy firms, by means of a financial package designed to support the start-up, expansion, consolidation or acquisition of an SME located on the territory of the Pays-d'en-Haut MRC.
Eligibility Criteria
General Sector:
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Must be a Québec firm (a firm with Head Office located in the Province of Québec) and with its main commercial activity located on the territory of the Pays-d'en-Haut MRC. |
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Must be a legally constituted corporation, profit-making or non-profit organization or a cooperative, which generates economic activity. |
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The promoter's investment must be at least 20% of the total cost of the project.
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Entrepreneurial Succession Sector:
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Must be between 18 and 35 years old, with the aim of acquiring a participation in the form of capital stock;
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Must acquire at least 25% of the firm's value.
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Investment Criteria
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The basic criterion for investing in the business is the viability of the firm.
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Promoters must demonstrate they have the pertinent know-how and experience in their sphere of activity along with an excellent awareness of management techniques and skills.
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The Business Plan must demonstrate continued profitability, excellent prospects for the future and carry a significant economic impact.
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The project must generate economic benefits as regards job creation and/or retention. |
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A capital base from other sources, other than the promoters' investment and the FLI contribution, is strongly desirable for projects submitted to the Pays-d'en-Haut CLD.
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Entrepreneurial Succession: the firm must be located on a territory where the National Policy of Rurality applies.
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Type of Help
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The financial help granted will be between $5,000 and $25,000 per firm, either as an equity-type loan or an unsecured loan.
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Entrepreneurial Succession: a loan without interest not exceeding $25,000 accompanied with a deferment on capital reimbursement for the 1 st year.
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Terms & Conditions
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Submit a Business Plan demonstrating the project's viability and profitability.
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Fees to initiate the process apply (1% of the loan, minimum $150). If the loan request is refused, FLI will return half of the fee to the promoter.
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The file will be analysed by an Investment Committee and submitted to the Administration Council of the CLD for approval.
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Admissible Expenses
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Capital expenses such as lot, building, equipments, machinery, rolling stock, incorporation fees and any other expenses in kind, goodwill expenses excluded;
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Acquisition of technologies, software or program packages, patents and any other expenses in kind, Research & Development (R&D) activities excluded; |
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Rolling stock requirements directly related to the firm's operations as calculated for the 1 st year of operation;
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Entrepreneurial Succession: acquisition of at least 25% of an existing firm's value.
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SOCIAL ECONOMY INVESTMENT FUND
(FIES)
The FIES Program is a Social Economy Investment Fund intended for the creation and the maintenance of jobs by means of a financial package designed for Social Economy firms located on the territory of the Pays-d'en-Haut MRC.
Eligibility Criteria
Firms in the Social Economy sector such as non-profit organizations and incorporated or cooperatives, that:
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Produce goods and services
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Are financially viable
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Procure long-term jobs
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Generate autonomous revenues
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Demonstrate management autonomy
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Have their Head Office on the territory of the Pays-d'en-Haut MRC.
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Investment Criteria
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The basic criterion for investing in the business is the viability of the firm.
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Promoters must demonstrate that they have the pertinent know-how and experience in their sphere of activity along with an excellent awareness of management techniques and skills.
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The Business Plan must demonstrate continued profitability, excellent prospects for the future and carry a significant economic and social impact.
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The project must generate economic benefits as regards job creation and/or retention.
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Type of Help
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The amount of financial help granted will be between $5,000 and $25,000 per project under the form of a non-reimbursable contribution, i.e. subvention.
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Terms & Conditions
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Submit a Business Plan demonstrating the project's viability and profitability.
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The file will be analysed by an Investment Committee and submitted to the Administration Council of the CLD for approval.
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Admissible Expenses
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Capital expenses such as lot, building, equipments, machinery, rolling stock, incorporation fees and any other expenses in kind, goodwill expenses excluded;
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Acquisition of technologies, software or program packages, patents and any other expenses in kind, Research & Development (R&D) activities excluded; |
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Rolling stock requirements directly related to the firm's operations as calculated for the 1st year of operation.
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SUPPORT FOR SELF-EMPLOYMENT
(STA)
This Program is designed to offer a financial and technical support to eligible participants who want to create or acquire a micro-business in order to become self-employed workers.
Eligibility Criteria
Promoter Status
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Income security or employment insurance beneficiary
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Workers of a precarious status
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Persons without a job and without financial support.
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The promoter must:
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Agree to a personal investment in the firm equivalent to 15% of the total benefits;
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Work full-time on an annual basis in his firm;
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Hold the majority of shares in the firm (51%) if several associates are participating;
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Locate the firm's Head Office on the CLD's intervention territory.
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Investment Criteria
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Promoter's entrepreneurial profile
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The project's viability is the basic criterion.
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The Business Plan must demonstrate continued profitability and excellent prospects for the future.
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The sector of intervention (preferred: Primary, Secondary and Tertiary-motor).
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The level of competition within the sector of activity.
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Type of Help
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Financial help equivalent to benefits for a period of 52 weeks
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Technical assistance (help in the elaboration of a Business Plan)
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Specific training (sales, accounting, legal aspects, etc.)
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Follow-up on the project's evolution.
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Terms & Conditions
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Validate a candidate's eligibility with an agent from the Local Employment Centre (CLE)
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Meet with the Program Coordinator and evaluate the project's synopsis
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Present the project to the first Selection Committee
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Submit a Business Plan demonstrating the project's viability and profitability.
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Admissible Expenses
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The benefits received will help sustain the entrepreneur's needs during the preparatory phase of the Business Plan and the start-up of the firm and not finance the firm as such.
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” SOLIDE ” - Pays-d'en-Haut MRC
SOLIDE, a Local Investment Society for the development of employment on the territory of the Pays-d'en-Haut MRC, grants financing to firms in a start-up, expansion or consolidation mode.
Eligibility Criteria
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Must be a Québec firm, legally constituted and profit-making, whose principal sphere of activity is located on the territory of the Pays-d'en-Haut MRC. |
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Projects must be viable, profitable and contribute to the creation of permanent jobs.
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Firms must operate in the Primary sector, the Secondary (Manufacturing) sector or the Tertiary-motor sector (such as tourism, consulting engineering, software design and fabrication, robotics, protection of the environment, etc.);
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The promoter must make an investment in his firm (at least 20%);
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Firms such as retail businesses are excluded.
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Investment Criteria
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The basic criterion for investing in the business is the viability of the firm.
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Promoters must demonstrate that they have the pertinent know-how and experience in their sphere of activity along with an excellent awareness of management techniques and skills.
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The Business Plan must demonstrate continued profitability, excellent prospects for the future and carry a significant economic impact.
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The project must generate economic benefits as regards job creation and/or retention.
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Entrepreneurs must show goodwill towards their workers and maintain good work relations.
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Type of Help
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The financial aid granted will be between $5,000 and $50,000 $ per firm.
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This aid can take the form of an equity-type loan, a straight loan with or without security or, in some cases, in investment in capital stock.
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Terms & Conditions
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Submit a Business Plan demonstrating the viability and the profitability of the project.
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Fees to initiate the process will apply (1% of the loan, minimum $150). If the loan request is refused, SOLIDE will return half of the fee to the promoter;
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The file will be analysed by an Investment Committee and submitted to the Administration Council for approval.
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Admissible Expenses
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Capital expenses such as lot, building, equipments, machinery, rolling stock, incorporation fees and any other expenses in kind, goodwill expenses excluded;
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Acquisition of technologies, software or program packages, patents and any other expenses in kind, Research & Development (R&D) activities excluded; |
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Rolling stock requirements directly related to the firm's operations as calculated for the 1st year of operation.
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NATIONAL POLICY OF RURALITY
The Rurality Fund of the Pays-d'en-Haut MRC is a monetary envelope of $850,000 spread over 5 years intended to stimulate and maintain the long-term development and prosperity of local communities, ensuring their quality of life and supporting the commitment of residents towards the development of their community.
Eligibility Criteria
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Municipalities, municipal organizations and MRCs are eligible.
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Non-profit and incorporated organization, solidarity and consumer cooperatives.
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Education, Health and Social Services organizations covering, in whole or in part, the territory identified under the Rural Agreement.
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Investment Criteria
The basic criterion for investing in the firm is the project's viability. Projects must answer to one or more of the following orientations:
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Stimulate and support the long-term development and prosperity of rural communities;
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Ensure the quality of life of these communities and reinforce their power of attraction;
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Support the residents' commitment towards the development of their community.
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Type of Help
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Financial help in the form of a subvention;
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Aid up to 75% of admissible expenses for devitalized municipalities and projects touching, as a whole, the MRC territory;
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Aid up to 50% of admissible expenses for other municipalities.
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Terms & Conditions
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Submit a Business Plan demonstrating the project's viability.
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The file will be analyzed by an Orientation Advisory Committee and submitted to the Council of Mayors of the Pays-d'en-Haut MRC.
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Admissible Expenses
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Salaries for employees, trainees and other integrated employees, including social charges imputable to the employer and social benefits;
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Professional fees;
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Capital expenses such as lot, building, equipments, machinery, rolling stock, incorporation fees and any other expenses in kind;
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Acquisition of technologies, software or program packages, patents and any other expenses in kind;
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Rolling stock requirements as calculated for the 1st year of operation.
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CARREFOUR
CAPITAL
This section is presently under construction...
OTHER SOURCES
CANADA SMALL BUSINESS FINANCING (CSBF) PROGRAM
The CSBF Program helps new and existing small businesses obtain term loans and capital leases of up to $250,000 from authorized lenders towards financing the purchase and improvement of fixed assets. The CSBF finances the establishment, the expansion, the modernization and the improvement of small businesses in Canada. However, this Program does not apply to farming, charitable and religious enterprises.
Eligibility Criteria
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The company must be established in Canada. |
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Estimated annual gross revenues must not exceed $5 million during the fiscal year in which the company applies for a loan or a capital lease.
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Must be operated as a sole proprietorship, a partnership or an incorporated company. |
Investment Criteria
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The basic criterion for investing in the business rests on the project's viability.
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Promoters must demonstrate they have the pertinent know-how and experience in their sphere of activity along with an excellent awareness of management techniques and skills.
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The Business Plan must demonstrate continued profitability and excellent prospects for the future.
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The borrower must satisfy the chosen financial institution's prescribed eligibility criteria (ex: the solvency of the firm or, in the case of a start-up, the solvency of the borrower).
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Type of Help
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Maximum financing of up to $250,000 with maximum personal securities of 25% of the total amount of the financing.
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Terms & Conditions
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Submit a Business Plan demonstrating the viability and the profitability of the project.
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Loans will be granted by chartered banks, cooperative banks, most credit unions along with numerous trust, loan and insurance corporations.
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Administration fees of 1.25% shall be payable annually to the government.
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Administrative fixed charges of 2% shall be payable to the Crown.
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The file will be analysed by the financial institutions enumerated above as if the loan was part of their regular business.
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Admissible Expenses
Commercial Loan:
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Purchase or improvement of real estate or immovable properties;
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Purchase for leasehold improvements or improvement of rented premises;
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Purchase or improvement of new or old material necessary for the operation of a commercial venture.
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Capital lease contract
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Vehicles;
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Hotel or restaurant equipment; |
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Medical equipment or equipment intended for healthcare; |
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Computer equipment including software;
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Telecommunication equipment;
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Production equipment.
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For detailed information: Canada Business Service Centre at www.rcsec.org under the section “Government Programs & Services”
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