Lévis, January 22, 2020 – The economy is changing, as are the needs of small and mid-sized enterprises. This is why going forward, the Fonds régionaux de solidarité FTQ (FRS) will be able to offer up to $5 million of unsecured financing. For needs in excess of $5 million, the FRS’ financing experts will guide entrepreneurs through the application process with the Fonds de solidarité FTQ.
The 16 offices of the FRS offer small and mid-sized enterprises customized business loan and equity solutions. Each product is developed based on the company’s characteristics and the economic reality of the region. Not requiring either a corporate or personal guarantee, FRS loans do not entail any legal or management fees and are intended to complement the financing offered by traditional financial institutions.
“Labour challengers are forcing manufacturers to invest heavily in innovation and automation to ensure their growth and meet the growing demands of their customers. For other businesses, succession planning is a priority. Increasing the level of investments to $5 million will allow us to better help entrepreneurs face these challenges,” said Jean Roy, regional vice-president, Chaudières—Appalaches and Québec City, Fonds régionaux de solidarité FTQ.
It will be recalled that in 2018-2019, the FRS Chaudière-Appalaches invested a total of $7,204,475 in 7 companies in the region, which included a $1.5 million investment in Thetford Honda to help them with their ownership transfer.
The FRS finance business transfers involving internal, external or family succession. The FRS also support business growth through acquisitions, innovation projects or product and market development.
About the Fonds régionaux de solidarité FTQ
The Fonds régionaux de solidarité FTQ have been participating in the economic development of Québec’s regions for the past 23 years. An integral part of the Fonds de solidarité FTQ network, the Fonds régionaux have invested $918 million in 1,434 projects since their inception in 1996, helping to create, maintain or protect 51,846 jobs.
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