Press release

Matane, March 1, 2018. La Matanie RCM, the Fonds d’innovation et de développement économique local de la Matanie (FIDEL), Caisse Desjardins de La Matanie and the Fonds locaux de solidarité FTQ are pleased to announce the recapitalization of the Fonds local de solidarité (FLS). Thanks to this partnership, $900,000 is now available for the development of Matanie businesses in order to create a strong economy driven by job preservation and creation.

The local partners are providing $133,545, while the Fonds locaux de solidarité FTQ Limited Partnership is converting a portion of its current loan ($147,000) into capital to relaunch the Fonds local and is offering a $750,000 variable investment credit that could increase if necessary.

La Matanie RCM will be responsible for the portfolio’s management and analyzing project submissions. The investment decision will be made by an independent, nine-member committee.

Regional businesses in any socioeconomic sector can apply to the Fonds local de solidarité (FLS) for a loan of up to $100,000 and to the Fonds local d’investissement for an additional $150,000. They can therefore obtain as much as $250,000 to complement the financing from other financial partners.

The prefect of the La Matanie RCM, Denis Santerre, says that “the Fonds local de solidarité is a perfect example of what you can accomplish locally when you work together, whether it’s by the financial partners today, or in the past, at the time of the Matane RCM SOLIDE, in particular, the SADC. We now have this additional tool to support our businesses and further the development of our territory. I’m very proud of what we’ve done here.”

According to Jean Langelier, FIDEL’s innovation and development director, “The Fonds local de solidarité is an indispensable tool that will greatly encourage entrepreneurship in La Matanie.”

As for Denis Girard, general manager of Caisse Desjardins de La Matanie, Desjardins’ contribution to the Fonds’ recapitalization is perfectly in line with its mission to “be the number one choice of people because of our involvement in the community.”

“We are proud to renew our partnership with the La Matanie RCM. The network of Fonds locaux de solidarité is a proven local economic development model. We’ve financed 42 projects to date in Matane, totalling $1.1 million. Entrepreneurs will now have access to more money for their start-up, growth and succession projects,” said Éric Desaulniers, general manager of the Fonds locaux de solidarité FTQ.

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