MRC La Côte-de-Beaupré — Local Investment Fund (FLI) – Local Solidarity Fund (FLS)
Beaupré, QC, Canada
Local funds support startups and expanding businesses with loans
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
- Construction
- Arts, entertainment and recreation
grant_single|grantors
- MRC La Côte-de-Beaupré
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) programs aim to stimulate local entrepreneurship by providing access to startup and development capital, offering financial aid in the form of loans up to $150,000 for FLI and $100,000 for FLS. Eligible activities include both traditional and social economy ventures that are either in the startup phase or expanding, with diversified funding sources.
grant_single_labels|terms_and_conditions
This grant provides structured financial assistance options for local entrepreneurial ventures in traditional and social economies. The financing is designed to support business startups and expansions with specific lending terms.
- A maximum financial assistance of $150,000 is available under the Local Investment Fund (FLI), provided as a loan.
- A maximum financial assistance of $100,000 is available under the Local Solidarity Fund (FLS), also provided as a loan.
grant_single_labels|projects
This fund aims to boost local entrepreneurship by facilitating access to startup and development capital for businesses in traditional and social economies. The eligible projects focus on various types of business initiatives tailored to local needs.
- Startup projects that require initial capital to launch business operations.
- Expansion activities that aim to grow or diversify existing businesses.
- Initiatives by private enterprises seeking additional funding for growth.
- Projects by social economy enterprises needing development capital.
grant_single|admissibleProjectsExample
$ 60,000
Developing a mobile app for local tourism enhancement
$ 25,000
Launching a youth-led sustainable fashion startup
$ 45,000
Opening a community-focused café with local products
$ 75,000
Establishing a small manufacturing facility for eco-products
grant_single_labels|admissibility
Eligibility for this grant requires companies to meet certain conditions regarding their stage and type of business as well as their funding sources.
- The applicant must be a startup or a business in expansion.
- The applicant must be a private enterprise or a social economy enterprise.
- The project must demonstrate diversified sources of financing.
grant_eligibility_criteria|who_can_apply
The Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) grants are open to both private businesses and social enterprises that are either starting up or expanding and demonstrate diverse sources of funding.
grant_eligibility_criteria|zone
This fund is aimed at promoting local entrepreneurship within specific areas served by MRC La Côte-de-Beaupré. The eligible regions are designed to foster economic growth and support business development in this locality.
- Companies located within the MRC La Côte-de-Beaupré region.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Initial Assessment and Preparation
- Review the eligibility criteria to ensure your business meets the requirements.
- Gather all necessary information about your business, including a business plan, financial statements, and details of your proposed project.
- Prepare a comprehensive project proposal detailing objectives, expected outcomes, and how the funds will be utilized.
- Step 2: Identify Funding Sources
- Ensure that your project has diverse sources of funding as required by the grant guidelines.
- Document all confirmed and potential funding sources, including other grants, loans, and investments.
- Step 3: Contact Local Investment Fund Office
- Reach out to the local FLI/FLS office for guidance on the specific application requirements for your region.
- Attend any informational sessions or workshops they may offer.
- Step 4: Complete the Application Form
- Download or request the application form from the FLI/FLS office.
- Fill out the form with accurate and detailed information about your business and project.
- Step 5: Compile Supporting Documents
- Attach all required documents, such as business registration, financial projections, and letters of intent from other funding sources.
- Ensure all documents are current and well-organized.
- Step 6: Submit the Application
- Send your completed application and supporting documents to the FLI/FLS office by the specified deadline.
- Follow the instructions provided by the local fund office for submission, which may include electronic or hard copy delivery.
- Step 7: Confirmation and Follow-up
- Receive a confirmation of receipt from the fund office once your application has been submitted.
- Maintain contact with the office for updates or additional requests for information.
grant_single_labels|otherInfo
Here are additional relevant details for FLI and FLS grants:
- The interest rates for loans provided under FLI and FLS may vary depending on the project's risk assessment.
- Lenders may require a personal guarantee or security for loan approval under these programs.
- Applicants might be asked to present a detailed business plan and financial projections as part of the loan assessment process.
- There may be specific post-approval requirements, such as maintaining a certain level of employment or operational activities.
- Interaction with a local economic development office may be required for application support and evaluation.
Apply to this program
Fueling Local Entrepreneurship through FLI and FLS Grants
The Fonds local d’investissement (FLI) and the Fonds local de solidarité (FLS) grants are designed to boost local entrepreneurship by providing critical capital for startup and development stages in traditional and social economy enterprises. These funds aim to diversify financial resources available to new and expanding businesses, offering significant financial support.
In-Depth Insight into FLI and FLS Support for Business Growth
The Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) initiatives are instrumental in fostering the growth of local enterprises by facilitating access to necessary financial capital. These grants specifically target startups and expanding businesses in both private and social economy sectors, allowing them to access substantial funding to accelerate their business activities. With financial support that reaches up to $150,000 through FLI and $100,000 via FLS, these grants provide loans that can serve as a cornerstone for business activities ranging from market expansion and product development to operational scaling. By facilitating infusion of capital, these loans reduce the risk burden on local entrepreneurs, enabling them to focus on strategic growth and operational efficiency.
One of the unique aspects of FLI and FLS grants is their dual focus on both traditional economic players and social enterprises. This approach ensures a diverse economic ecosystem where both sectors can thrive simultaneously, positively impacting community development. Social enterprises, in particular, benefit greatly as they often face unique financial challenges that these grants are specifically designed to mitigate. As these businesses access diversified financial sources, they become better poised to deliver social benefits while also achieving sustainability and growth.
The eligibility for these grants centers on the enterprise's stage—whether in startup or expansion phases. Additionally, the fundraising project's scope and innovation in securing diverse financial sources are key considerations. This emphasis ensures that the enterprises are not solely reliant on grant support but are actively engaging in creating a robust financial foundation, which is crucial for long-term success.
Moreover, the support provided through FLI and FLS is pivotal not just in financial terms but also in strategic and operational planning. Entrepreneurs can leverage the funding to implement cutting-edge technologies, attain market competitiveness, and improve operational methodologies. This creates a ripple effect wherein the local economy sees improved employment rates, increased innovation, and stronger community ties.
In conclusion, the FLI and FLS grants play a critical role in shaping the economic landscape of local communities. By offering significant financial backing and minimizing initial financial barriers, these grants empower entrepreneurs to build sustainable businesses that reflect long-term growth and community values. The continued support for diverse enterprise types ensures a resilient economic framework capable of withstanding market variabilities while fostering a spirit of innovation and entrepreneurship. These grants not only provide essential startup and development capital but also catalyze a broader socio-economic impact, paving the way for prosperous entrepreneurial ventures in the region.