QUÉBEC, 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 available from other financial institutions.
As further proof of their increasingly important role, the FRS have
averaged one new partner company per week in the last year. Of 77
financing agreements completed, 54 were with new partners, 19 of which
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.
"We made 10 investments totalling $6.1 million in
Québec—Chaudière-Appalaches over the last year. These investments were
made during favourable economic conditions in which the two regional
funds provided the financial leverage these companies needed to move
forward with their projects," said Jean Roy, General Manager of the
Fonds régionaux de solidarité FTQ Québec and Chaudière--Appalaches.
"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 Capitale-Nationale and
Chaudière--Appalaches have completed 107 financing agreements totalling
$66 million that have created, maintained or protected over 5,200
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