Saint-Jean-Port-Joli, March 22, 2019 – The L’Islet RCM and its partners, the Fédération québécoise des municipalités (FQM), the Government of Québec 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 launch of the new local solidarity fund (FLS) was confirmed this morning in the presence of Marie-Eve Proulx, Minister for Regional Economic Development and Minister Responsible for the Chaudière-Appalaches Region, the Bas-St-Laurent Region and the Gaspésie–Îles-de-la-Madeleine Region, and Member for Côte-du-Sud, René Laverdière, reeve of the L’Islet RCM, Jean‑François Pelletier, FQM Board member, and Éric Desaulniers, 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 L’Islet RCM.
“The FQM and the Fonds de solidarité have been working together for almost 27 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 Jean-François Pelletier, Mayor of the L’Islet municipality and FQM Board member.
“The RCM is very proud to see this partnership formed on its territory and to be able to offer local businesses a new financing tool to support their development. By launching an economic development service, the RCM wanted to show its commitment to supporting businesses in the L’Islet region. Today’s announcement attests to this commitment,” said the RCM’s reeve, René Laverdière.
“The Québec government wants to give the regions a greater role and more control over of their development. As of today, the L’Islet RCM can offer, in partnership with local actors, a financial tool that meets the needs of businesses on its territory and that takes regional realities into account. Today’s announcement shows that the expertise of the RCM’s employees will be used to its full potential. Entrepreneurs will continue to receive direct support and will be able to forge ahead with their projects,” said Marie‑Eve Proulx, Minister for Regional Economic Development and Minister Responsible for the Chaudière-Appalaches Region, the Bas-St-Laurent Region and the Gaspésie–Îles-de-la-Madeleine Region, and Member for Côte-du-Sud.
“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 L’Islet RCM with bold and ambitious start-up or growth projects can now turn to the FLS for financing. Since it was created more than 25 years ago, the FLS network has funded 4,416 business projects,” said in turn 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 a loan from the RCM’s Fonds local d’investissement (FLI), a conventional loan from a financial institution, a subsidy, cash or other seed money. The maximum amount available from the FLS is $100,000.
The L’Islet’s Economic Development Department is now accepting requests for financing.