Develop your entreprise’s potential

Innovate │ Accelerate │ Propel

Pilot project

Social Economy Innovation and Growth Fund (FICÉS)

SPECIFIC COMPONENT OF THE TRANSITION FUND

MAXIMUM AMOUNT OF $250,000 PER ENTERPRISE

The FICÉS offers all the necessary flexibility to respond to the needs of projects with strong potential for growth and/or innovation.

This revenue-based financing was developed to support social economy enterprises through their pre-startup, startup or expansion phases.

The amount of the investment is determined according to:

  • The size of the enterprise and the scope of the project
  • The project’s projected revenue

The organization’s borrowing capacity.

OBJECTIVS

  • Support the emergence of innovative projects
  • Drive the growth of existing enterprises
  • Ensure the expansion of social economy enterprises

CHARACTERISTICS

  • Financing is based on the enterprise’s revenues and is complementary to other sources of solidarity financing.
  • Investment duration and repayment is adapted to the enterprise’s rate of growth.
  • Flexible repayments that never exceed a pre-established ceiling:
    • Variable portion determined as a function of projected revenues (royalties);
    • Fixed portion determined as a percentage of the initially invested capital;
    • Possibility of making additional payments (total or partial) without penalty;
    • Possibility of reducing the amount owed through accelerated repayment.
  • Commitment fee: 1.5% of authorized total
  • Application fee of $300 is deducted from commitment fee.

PRIORITIZED STRATEGIC SECTORS

  • Demographic challenges through human services and collective recovery
  • Innovation and technology
  • Food self-sufficiency
  • The circular economy and the environment

ELIGIBLE PROJECTS AND EXPENDITURES


The enterprise must demonstrate the growth and/or innovation potential of its project and the relevance of securing revenue-based financing.

Enterprises must, depending on the type of project,

  • Have developed a minimally viable, functional product that successfully addresses the problem in question (ready for the commercialization phase);
  • Own the intellectual property or the exclusive, unlimited and irrevocable commercialization rights for all intangible assets derived from an innovation project.

The eligible expenditures for the project are

  • Working capital needs
  • Hiring of internal or external human resources
  • Expenditures related to project deployment (improving a product/service, commercialization…)

INELIGIBLE EXPENDITURES

HOW TO APPLY

STEPS

  1. Contact our team to validate your proposal’s eligibility
  2. Send us the requested documents and the $300 application fee
  3. An analyst reviews your proposal/discussion/meeting
  4. RISQ’s financial analyst prepares a report
  5. Presentation of analysis report to the Investment Committee. Depending on the committee’s decision, committee members recommend that the Board of Directors accept or refuse the financing request; occasionally they recommend changes.
  6. If accepted, signing of RISQ’s offer of investment
  7. Validation of compliance with preconditions contained in the offer of investment, and disbursement of loan
  8. Follow-up by RISQ until loan has been fully repaid.

DOCUMENTS

  • Signed Déclarations et consentements [Representations and consent] form
  • Cheque for $300 made out to RISQ to cover the application cost
    (deductible from commitment fee)
  • Business plan or project presentation document describing its purpose, with an operational plan for its deployment.
  • Resolution of the enterprise authorizing the individual who signed the application (link)
  • Forecast monthly cash budget for at least 12 months
  • Financial forecasts for at least five years and three scenarios: pessimistic, realistic and ambitious
  • Copy of letters patent (NPO) or charter (co-op)
  • Copy of by-laws (including borrowing by-law) or internal rules of governance
  • Documentation on the group that is initiating the project, including résumés for the human resources required
  • Studies demonstrating the potential for growth and/or innovation (market, feasibility, or other).

Other documents, if applicable

  • Copy of most recent annual activity report
  • Copy of annual financial statements for the last two years
  • Recent interim financial statements (including list of accounts receivable and payable)
  • Financial statements of affiliated enterprises
  • Copy of financial partners’ confirmations
  • Submissions related to the project
  • Other relevant documents: additional studies, letters of support or intent, etc.

Additional documents may be required to complete our assessment of your application.

OUR OTHER FINANCIAL PRODUCTS

TRANSITION FUND

COMMIT TO BEING PART OF THE RECOVERY

TECHNICAL ASSISTANCE LOAN

VALIDATE THE IDEA

EMERGENCE LOAN

MOVING FROM IDEA TO PROJECT

CAPITALIZATION LOAN

START UP, DEVELOP, ENSURE CONTINUITY

CES TRUST LOAN

NEED MORE FINANCING

OBTAIN FINANCING TO MATCH YOUR
STAGE OF DEVELOPMENT

STARTING UP

TURNING IDEAS INTO ACTION!

DEVELOP

REINFORCE AND STABILIZE YOUR OPERATIONS!

PUISQUE CHAQUE PROJET EST UNIQUE…
CONTACTEZ-NOUS
ou le RELAYEUR DE VOTRE RÉGION!

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