Press release

January 18, 2018 – The Des Sources RCM and its partners the Fonds locaux de solidarité FTQ, the Fédération québécoise des municipalités (FQM) and Caisse Desjardins des Sources are proud to announce the creation of a fund of almost $1 million to support businesses on the territory of the Des Sources RCM.

The launch of the new Fonds local de solidarité (FLS) was confirmed this morning in the presence of Karine Vallières, Member for Richmond and Parliamentary Assistant to the Premier (youth), Hugues Grimard, reeve of the Des Sources RCM and mayor of the town of Asbestos, Lionel Fréchette, mayor of Sainte-Hélène-de-Chester and FQM representative, Éric Desaulniers, general manager of the Fonds locaux de solidarité FTQ, and Marc-André Letendre, Board chair of Caisse Desjardins des Sources.

The mission of the FLS is to speed up the implementation of business start-up, expansion and acquisition projects on the RCM territory. Its creation was made possible by the participation of the Fonds locaux de solidarité FTQ Limited Partnership with a $750,000 variable investment credit, a $100,000 contribution from the FQM and a contribution from the RCM and Desjardins in the amount of $50,000 each.

“I’m thrilled to see the support these key partners are providing. By setting up this new financial lever in the region, they’re showing that, like us, they believe in the potential of Des Sources entrepreneurs. We now have everything we need to help our territory flourish,” said reeve Hugues Grimard.

“The FQM and the Fonds de solidarité FTQ have been working together for over 25 years and it’s the reason the local solidarity funds exist. It’s a partnership of which we can all be very proud. Our contribution was made possible by the $3.5 million allocated by the Québec government for the deployment of the FLS network in regions unserved until now,” added FQM representative Lionel Fréchette.

“The result of a partnership between the Fonds de solidarité FTQ and the Fédération québécoise des municipalités, the Fonds locaux de solidarité network is a proven local economic development model. Entrepreneurs in the Des Sources RCM with bold and ambitious start-up or growth projects can now obtain financing from the FLS,” continued Éric Desaulniers of Fonds locaux de solidarité FTQ LP.

“Desjardins is proud to team up with the Des Sources RCM and the Fonds locaux de solidarité FTQ to create a new investment fund for entrepreneurs. Caisse des Sources prioritizes local development and business investments in order to play a key role as an economic partner on the territory,” said Desjardins’ Marc-André Letendre.

Through its leverage effect, the FLS will complete the financing of business projects on the territory by allowing entrepreneurs to access other sources such as conventional loans from a financial institution, subsidies, capital outlays or other seed capital. The maximum amount available from the FLS is $100,000.

The Des Sources FLS is now accepting requests for financing.

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