MRC La Côte-de-Beaupré — Local Investment Fund (FLI) – Local Solidarity Fund (FLS)
Last Update: January 24, 2025
Beaupré, QC
Local funds support startups and expanding businesses with loans
MRC La Côte-de-Beaupré — Local Investment Fund (FLI) – Local Solidarity Fund (FLS) at a glance
Eligible Funding
- Max. $150,000
Timeline
- Continuous Intakes
Financing Type
Loans and Capital investments
Eligible Industries
- Agriculture, forestry, fishing and hunting
- Construction
- Arts, entertainment and recreation
Grant Providers
- MRC La Côte-de-Beaupré
Status
Open
Overview of the MRC La Côte-de-Beaupré — Local Investment Fund (FLI) – Local Solidarity Fund (FLS) program
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.
Financing 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.
Eligible projects & activities
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.
Examples of admissible projects:
$ 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
Eligibility criteria of the MRC La Côte-de-Beaupré — Local Investment Fund (FLI) – Local Solidarity Fund (FLS) program
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.
Who is eligible?
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.
Eligible geographic areas
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.
How to apply to the MRC La Côte-de-Beaupré — Local Investment Fund (FLI) – Local Solidarity Fund (FLS) program
1
Initial consultation
- Contact Développement Côte-de-Beaupré to arrange a meeting with an advisor.
- Discuss your project and your funding needs to determine your eligibility.
2
Assessment of needs
- Provide the necessary information about your company or project in order to assess the appropriate financing solutions.
- Work with the advisor to analyze the finances, market strategy, and project objectives.
3
Selection of the financing solution
- Identify the appropriate financing solution(s) among those offered by Développement Côte-de-Beaupré.
- Prepare the required documents for the application specific to each fund.
4
Preparation of the request
- Gather all supporting documents, such as the business plan, budget, and financial statements.
- Draft the complete application according to the instructions provided by Développement Côte-de-Beaupré.
5
Submission of the request
- Submit the completed application to Développement Côte-de-Beaupré by the indicated means, such as email or the online portal.
- Ensure that the submission deadlines specified for the selected fund are respected.
6
Follow-up and decision
- Wait for the confirmation of receipt and the evaluation of your request by Développement Côte-de-Beaupré.
- Respond to any requests for additional information if necessary to finalize the analysis of your file.
Additional information
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.