Friday, May 4, 2018 – The Des Chenaux RCM and its partners, the Fédération québécoise des municipalités (FQM) and the Fonds locaux de solidarité FTQ, are proud to announce the creation of a $900,000 fund to support businesses on the RCM territory.
The establishment of the new local solidarity fund (FLS) was confirmed this morning in the presence of Pierre Michel Auger, Member for Champlain and representative of the Government of Québec, Larry Bernier, Mayor of Lac-Édouard and director of the FQM, Gérard Bruneau, reeve of the Des Chenaux RCM and mayor of Saint-Maurice, and Éric Désaulniers, general manager of the Fonds local de solidarité FTQ Limited Partnership.
The mission of the FLS is to speed up 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 and contributions of $100,000 and $50,000 from the FQM and the RCM.
“The FQM and the Fonds de solidarité have been working together for almost 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,” said Larry Bernier, Mayor of Lac-Édouard and member of the FQM Board of Directors and Executive Committee.
“We’re very pleased to be able to count on the financial support and expertise of our two partners, the Fonds locaux de solidarité FTQ and the Fédération québécoise des municipalités, both of which share our belief in the potential of entrepreneurs on our territory, as demonstrated by their sizeable contribution announced today,” said the RCM reeve, Gérard Bruneau.
“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 Chenaux RCM with bold and ambitious start-up or growth projects can now obtain financing from the FLS. Since it was created more than 25 years ago, the FLS network has funded a total of 4,416 business projects,” continued Éric Désaulniers of the Fonds locaux de solidarité FTQ LP.
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 Chenaux RCM is now accepting requests for financing.
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