Fonds Locaux

By mmuise
Description:

Fonds Locaux is a financial tool designed to assist businesses being guided by ID Gatineau through their start-up, transition and expansion. This financial tool helps accelerate business projects that create wealth within Gatineau.


Comments on Funding:

Funding takes the form of loans of up to $200,000.

Deadline: Continuous Intake
Eligibility:

Applicants must be companies that meet the following conditions:

  • Being a legally established company registered with the Quebec Enterprise Register (REQ);
  • Being a wealth-creating company or a company with a project that has the potential to generate wealth and is receiving personalized support from ID Gatineau.
  • In the case of social economy enterprises (nonprofit organizations (NPOs) created under Part III of the Quebec Companies Act), being able to meet the criteria:
    a) Being a social economy enterprise that adheres to the following characteristics: i. Production of socially useful goods and services; ii. Democratic management process; iii. Primacy of people over capital;
    iv. Collective responsibility; v. Impact on local and community development, including the creation of sustainable jobs, the development of new services, and the improvement of quality of life;
    vi. Management based on an entrepreneurial philosophy. b) Operating within a market economy context; c) Having completed the establishment and startup phase; d) Being in an expansion phase; e) Employing a majority of permanent positions (not subsidized by one-time programs); in addition to being quality jobs, these positions should not be a displacement of jobs from the public and para-public sectors; f) Holding net assets corresponding to at least 15% of total assets; g) Self-financing at 60% (self-generated revenues represent 60% of total revenues and may include contractual and governmental agreements).
Application Steps:

-

Documentation Needed:

-

Other Things to Note:

-

About the author
mmuise