Support for SMEs and organizations for the economic and commercial recovery of Lac-Mégantic

Determined to support the economic recovery and rebuilding of the town of Lac-Mégantic, the Agency has made it a priority to be there, for the short, medium and long term, to help the community in the aftermath of the rail accident that occurred July 6, 2013. Agency representatives will be on-hand throughout to guide businesses and organizations in their undertakings.

Component 2 – Support for SMEs and organizations of the Economic Recovery Initiative for Lac-Mégantic (ERILM) is intended for projects carried out within the town of Lac-Mégantic. Businesses and organizations, whether directly affected by the July 6th tragedy or not, may be eligible for this second component provided their projects contribute to the economic and commercial recovery of the town of Lac-Mégantic. The funding from the Agency complements other government programs.

To find out if your project is eligible for this initiative, contact the staff of Business Development and Infrastructure. They will be able to inform you, advise you or guide you in carrying out your project on the basis of the complementary funding from other partners.

For an overview of the main eligibility criteria, the type of activities that can be supported or the available funding, please consult the following information or download the initiative leaflet (PDFFunding for the economic recovery of the town of Lac-Mégantic – Support to SMEs and NPOs, 318 KB).

Eligibility

Designated community

  • Town of Lac-Mégantic

Eligible clientele

  • Small and medium-sized enterprise
  • Non-profit organisation

Main analysis criteria

Projects are reviewed based on specific criteria, namely:

  • anticipated results of your project;
  • viability of your business or organization;
  • your technical and financial management capacity;
  • partner contributions in financial resources or services.

Activities

Eligible activities

  • Recovery of a business or organization
  • Business start-up
  • Development of an economic recovery plan
  • Implementation of new economic opportunities

Financial assistance

Types of assistance

  • Repayable contribution
  • Non-repayable contribution

Authorized costs

All costs directly related to the project, deemed reasonable in connection with the recovery and revitalization of economic activity of Lac-Mégantic. Restrictions may apply in certain cases.

Non-eligible costs

  • Refinancing of an existing debt
  • The purchase of any asset that exceeds its fair market value
  • Amortization expenses
  • Goodwill expenses (notably lost revenues)
  • Decontamination costs related to the disaster
  • Costs already fully covered by other government programs, including direct support provided to disaster victims
  • Legal fees associated with lawsuits
 

Submitting a project

Do you wish to submit a project? For information on project submission and funding application procedures, consult the Agency's field team at 1-800-561-0633 for assistance in this process.

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