ROUYN-NORANDA, QC, June 7, 2013 /CNW Telbec/ - The Fonds régionaux de
solidarité FTQ (FRS) have reached a record-breaking 350 partner
companies across Québec. The 16 FRS, which cover the entire province,
offer high risk capital to local SMEs, mostly in the form of unsecured
loans, which are not usually available from other financial
As further proof of their increasingly important role, the FRS have
averaged one new partner company per week in the last year. Of 77
financings completed, 54 were with new partners, 19 of which involved
During the annual FRS meeting in Rouyn-Noranda this week, employees of
the regional funds talked of the challenges awaiting Québec enterprises
in the years ahead.
"In the last 12 months, the Fonds régionaux of North-western Quebec made
15 investments totalling $4.2 million. We understand the succession and
market development challenges confronting businesses today and are here
to support regional entrepreneurs with promising projects," said
Raymond Grenier, General Manager of the Fonds régionaux de solidarité
FTQ Abitibi-Témiscamingue and Nord-du-Québec.
"With a new partner company every week, it's clear that the Fonds
régionaux de solidarité FTQ have become partners of choice for
enterprises all across Québec. And with a record-breaking 350 partner
companies, our regional funds are helping to drive economic development
in all the regions," added Luc Pinard, President and CEO of the Fonds
régionaux de solidarité FTQ.
Since their inception, the Fonds régionaux Abitibi-Témiscamingue and
Nord-du-Québec have granted 120 loans totalling $62.6 million that have
created, maintained or protected over 3,700 jobs.
About Fonds régionaux de solidarité FTQ
Integral part of the Fonds de solidarité FTQ network since they were
launched in the spring of 1996, the 16 Fonds régionaux de solidarité
FTQ have been actively participating in the economic development of the
regions of Québec. As of March 31, 2013, the Fonds régionaux's
portfolio comprised 350 partner companies, bringing the total number of
jobs created or protected to more than 14,700. Total investments stood
at $239.6 million.
SOURCE: Fonds de solidarité FTQ
For further information:
Senior Adivsor, Media Relations and Communications
Fonds de solidarité FTQ
Phone: 514 850-4835
Mobile: 514 703-5587