Press release

Cap-Santé, March 19, 2015 – The Portneuf RCM and Fonds locaux de solidarité FTQ have created a new local solidarity fund endowed with $1 million in development capital for Portneuf businesses.

The news was announced today by Denis Langlois, reeve of the Portneuf RCM, Sylvain Germain, president of the CLD de Portneuf, Jean-René Laforest, general manager of Fonds locaux de solidarité FTQ and Richard Lehoux, president of the Fédération québécoise des municipalités (FQM).

The creation of this fund was made possible by a $250,000 contribution by the Portneuf RCM, whose involvement was instrumental to securing the $750,000 funding from Fonds locaux de solidarité FTQ, a partnership between the Fonds de solidarité FTQ and the Fédération québécoise des municipalités.

“The local solidarity funds are the fruit of a productive 23-year collaboration between the FQM and the Fonds de solidarité FTQ. We are very proud of this relationship and would like to see this network continue to grow throughout Québec,” said Richard Lehoux 

Mr. Germain pointed out that the CLD de Portneuf was behind the creation of the Fonds local de solidarité. “The CLD will be responsible for analyzing financing requests, managing the administrative and financial aspects of the portfolio and following up with businesses. The creation of the Fonds local de solidarité (FLS), combined with the Fonds local d’investissement (FLI), will enhance the leverage effect and greatly increase investment possibilities,” added Mr. Germain. 

“The Fonds local de solidarité MRC de Portneuf therefore provides a new source of financing for business expansions, start-ups and acquisitions, all of which will create jobs and drive the territory’s economic development,” said Mr. Laforest.

Portneuf RCM reeve Denis Langlois underscored the importance of this new lever for local economic development: “This fund that we are setting up together makes us stronger and increases the spinoffs on the territory’s economic development.”

Portneuf entrepreneurs can tap into the funding available from the FLS through the CLD. The investment policy of the FLI/FLS is available at www.cld.portneuf.com in the “Aides financières” section.

About the Fonds locaux de solidarité FTQ

The Fonds de solidarité FTQ and the Fédération québécoise des municipalités created the network of local solidarity funds in 1991. With the help of municipal officials and local partners, this network has grown over the years and has supported the local economy by providing assistance to SMEs and creating and maintaining sustainable, quality jobs. Now made up of 83 local funds, the network has invested $104 million in 3,369 projects and has helped create and maintain 31,300 jobs.

About CLD de Portneuf

A front-line resource for local development and entrepreneurial support, the Centre local de développement de Portneuf (CLD) fosters the socioeconomic development of the Portneuf RCM by mobilizing and working together with public, private and collective partners towards a common approach to economic development. The CLD de Portneuf offers individual and collective entrepreneurs technical support and financial services at all development phases.

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Source: CLD de Portneuf

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