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Paul Lecomte

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Paul Lecomte

  1. 1. Alternative Quebecagricultural youth fundMay 25th 2013Food Farms Fish and Finance ForumPaul Lecomte, agronomistDirector General
  2. 2. Alternative Quebec agricultural youth fundContextLimitations in capital accessBarriers to entryStarting and transferSmall regional enterprisesFinancing toolsSupport and logistics
  3. 3. Alternative Quebec agricultural youth fund25 M$FSTQGovernmentof QuebecCRCD25 M$25 M$PartnersFIRAAdvisory commitee
  4. 4. Support young agricultural entrepreneurs withbusiness start-up, development or transferproject with alternatives financial solutionsand venture capitalMission
  5. 5. Organization5Launched March 11, 2011Staff :• 1 manager (full time)• 3 advisors and• 2 assistants / techniciansNetworked with partners and market councelors
  6. 6. Des solutions à l’accès à la propriété pour la relève agricole6Types of projectBusiness start-upDevelopmentTransfer
  7. 7. Alternative Quebec agricultural youth fund7Customers profile18 to 39 years of ageMust have completed or obtained official recognitionof education (level III minimum)$ 30 000 business volume or more at maturityLegal entities:Individual, company, corporation, cooperativeOwn at least 20 % shares of the company
  8. 8. Des solutions à l’accès à la propriété pour la relève agricole8FIRA’s benefitsOrganizationalProjects planningFinancialAccess to additional fundsEquityAccess to farm without buyingAlternative Quebec agricultural youth fund
  9. 9. Alternative Quebec agricultural youth fund9Business PlanDescription / vision / planning5 years projectionsCoaching planFIRA’s benefits
  10. 10. Addition to down paymentPriority creditors leverageNo payment of principal or interest for 3 yearsallowing to start the project and improve liquidityLoan
  11. 11. 11LoanWe top up down paymentsUp to $ 250,000 for 15 yearsLeverage creation through second mortgage loanAttractive rates for risk capital
  12. 12. 12QualificationMust provide equal amount of fundsEntrepreneurial profileViable project with reasonable conditions to succeedLoan
  13. 13. Alternative Quebec agricultural youth fund13EquityUp to $ 500,000Over a 15 years horizonMinority participation of FIRAExpert partners available to enterprise advisory boardContribution to financial structure
  14. 14. Alternative Quebec agricultural youth fundEquity examples
  15. 15. Purchase and rental15Property acquisition by FIRAUp to 15 years leasesTenant ability to terminate lease yearlyTenant exclusive right of redemptionFair rentAvoids the immobilization of start up capitalEases youth access to agriculture
  16. 16. Purchase and rental16BenefitsExclusive right of redemption through entire leaseMinimizes down payment needsEstablishment / progressive expansion
  17. 17. Des solutions à l’accès à la propriété pour la relève agricolePaul Lecomte, agr.Chief executive officer1400, boul. de la Rive-SudSaint-Romuald (Québec) G6W 8K7Phone : 1 855 270-FIRA (3472) (Toll free)Fax : 418 834-FIRA (3472)Email : paul.lecomte@lefira.caAlternative QuebecAgricultural youth fundsVisit our websitelefira.ca

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