MRC Abitibi — Local Investment Fund (FLI)
QC, Canada
Financial support for businesses in Abitibi for growth
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- MRC Abitibi
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grant_card_status|open
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The local investment funds at CLD Abitibi offer repayable financial aid in the form of loans, with the Local Investment Fund (FLI) offering a specific FLI-Relève component that provides up to $35,000 to entrepreneurs aiming to acquire at least 25% of an existing business for succession. These funds aim to stimulate local entrepreneurship, support new and existing businesses, and create sustainable employment in the MRC d’Abitibi.
grant_single_labels|projects
The local funds outlined contribute to enhancing local entrepreneurship by offering financial support through loans and assistance for different business activities. These activities aim to provide financial stability and growth opportunities for businesses within the MRC d’Abitibi.
- Acquiring a substantial share (at least 25%) of an existing business for succession purposes through the FLI-Relève.
- Strengthening business operations through non-repayable financial support targeted at specific needs arising from funded business projects.
grant_single_labels|admissibility
Eligibility for the local investment funds is determined by specific criteria related to the business's registration and economic impact.
- The business must be legally constituted and registered with the Registraire des entreprises du Québec (REQ).
- The business's headquarters must be located within the MRC d’Abitibi territory.
- The business must generate economic benefits within the MRC d’Abitibi territory.
- All legal forms of business are eligible; however, only social economy enterprises are eligible among non-profit organizations (OBNL), subject to certain conditions.
grant_eligibility_criteria|who_can_apply
Any legally established business (registered with the Quebec Business Register) with its headquarters in the MRC of Abitibi territory that generates economic benefits in that area. All legal forms of business are eligible. However, for non-profit organizations, only social economy enterprises are eligible under certain conditions.
grant_eligibility_criteria|zone
This grant is available to companies whose head offices are located in specific geographical areas. The eligible areas are focused on stimulating local entrepreneurship within a defined territory.
- Companies with head offices located in the territory of the MRC d’Abitibi.
grant_single_labels|register
Here are the steps to submit an application for the financial aid from the Fonds locaux at CLD Abitibi:
- Step 1: Contact CLD Abitibi
- Reach out to them via telephone at 819-732-6918 or via email at info@cldabitibi.com to discuss your project and determine your eligibility.
- Step 2: Gather Necessary Documentation
- Ensure your business is legally constituted and registered with the Registraire des entreprises du Québec (REQ), as this is a key eligibility criterion.
- Prepare a detailed business plan and financial projections that accentuate the economic benefits your project will bring to the MRC d'Abitibi.
- Step 3: Submit Application
- Submit your completed application along with all required documentation to CLD Abitibi following the guidance received in your initial contact.
- Step 4: Await Feedback
- After submission, wait for feedback or requests for further information from CLD Abitibi regarding your application status.
grant_single_labels|otherInfo
Here are additional relevant details for this financing program:
- The FLI-Relève component allows for a repayment moratorium of up to one year, providing flexibility and financial security to entrepreneurs.
Apply to this program
Empowering Local Entrepreneurship through Financial Assistance
The local funds provided by CLD Abitibi offer essential financial support to entrepreneurs seeking to establish or expand their businesses within the MRC d’Abitibi. These funds aim to stimulate economic growth by providing accessible capital options for new and existing enterprises.
Detailed Insights on CLD Abitibi's Financial Programs
CLD Abitibi's local funds initiative is dedicated to fostering entrepreneurial growth by granting financial assistance tailored to the needs of businesses within the territory of the MRC d’Abitibi. By delivering funding through the Fonds local d’investissement (FLI) and the Fonds local de solidarité (FLS), the program ensures that enterprises can access the necessary capital to pursue innovative business objectives and sustain employment within the region. These funds are crafted to ease the financial burden on startups and growing companies by providing loans and non-repayable financial aid designed specifically to match the unique requirements of each enterprise.
The FLI is a pivotal component of this financial assistance strategy, enabling local entrepreneurs to obtain loans that facilitate business growth and continuity. In particular, the FLI offers a unique "Relève" component, which supports entrepreneurs aiming to acquire significant stakes in existing businesses, thereby ensuring a smooth transition of ownership and sustained business operations. This initiative provides loans ranging from $5,000 to $35,000, accompanied by the flexibility of a one-year repayment moratorium, making it an attractive option for budding business leaders seeking to scale their ventures or maintain vital local enterprises.
Furthermore, these local funds prioritize not only financial provision but also offer technical and strategic advice to optimize the success rates of recipient projects. By partnering with various stakeholders within the financial ecosystem, CLD Abitibi ensures that entrepreneurs have access to a wealth of expertise and resources that enhance their business prospects. This comprehensive support framework encourages sustainable practices and strategic development within the regional economic landscape.
The overarching goal of these funds is to stimulate robust economic development within the MRC d’Abitibi. By supporting diverse business structures, including for-profit entities and eligible social economy organizations, CLD Abitibi fosters an inclusive entrepreneurial environment conducive to innovation and progress. By targeting businesses poised to make substantial contributions to the local economy, these funds play a critical role in driving regional economic resilience and dynamism.
Additionally, the financial support framework includes a non-repayable aid measure tailored to the specific, immediate needs of businesses engaged in projects financed by the local funds. This supplementary aid seeks to address vulnerabilities within these projects, offering a safety net that enhances their likelihood of success and long-term viability.
Ultimately, CLD Abitibi's local funding initiatives exemplify a strategic approach to economic development, bolstering the region's competitive edge by cultivating a vibrant local business environment. Businesses that engage with these funding opportunities not only gain essential capital but also become active participants in shaping a sustainable and prosperous future for the MRC d’Abitibi.
