How much funding can be received?

Funds up to 20% of admissible expenses, capped at $250000 per project.

What is the deadline to apply?

The program is accepting continuous intake

Who are the financial supporters of the MRC Abitibi-Ouest — Local Investment Funds?

MRC Abitibi-Ouest — Local Investment Funds is funded by MRC Abitibi-Ouest

What are MRC Abitibi-Ouest — Local Investment Funds's eligibility criterias?

The company must be a legally constituted for-profit enterprise under the laws of Quebec or Canada, operating in the territory of the MRC d'Abitibi-Ouest and headquartered in Quebec, registered with the Registre des entreprises du Québec (REQ). Collective enterprises (cooperatives and non-profits) with commercial activities, as defined by the Social Economy Act (RLRQ, chapter E 1.1.1), are also eligible, subject to additional conditions outlined in the investment policy.

MRC Abitibi-Ouest — Local Investment Funds

Last Update: January 25, 2025

QC, Canada

Investment fund for economic impact businesses in Abitibi-Ouest

MRC Abitibi-Ouest — Local Investment Funds at a glance

Eligible Funding

Max. $250,000
Up to 20% of project cost

Timeline

Open Date : January 1, 2023
Closing date : December 31, 2023

Financing Type

Loans and Capital investments

Eligible Industries

All industries

Grant Providers

MRC Abitibi-Ouest

Status

Closed

Overview of the MRC Abitibi-Ouest — Local Investment Funds program

The Fonds locaux d’investissement (FLI) and Fonds local de solidarité (FLS) provide up to $250,000 in repayable financial assistance to businesses with an economic impact in Quebec, aiming to support their development and job creation or preservation in the MRC of Abitibi-Ouest. Eligible activities include projects by for-profit businesses and collective enterprises with commercial activities operating and headquartered in Quebec.

Financing terms and conditions

The Local Investment Funds offer financial support through reimbursable aid to promote economic development and employment in the MRC Abitibi-Ouest region. The funding modalities are designed to provide flexibility and encouragement for businesses in need of financial support.

Maximum financial aid of $250,000.
Reimbursable financial aid with a potential grace period of up to 12 months for capital repayment.
Monthly interest payments are required during the grace period.
Early repayment of the loan is allowed at any time, without notice or penalty.

Eligible projects & activities

This grant focuses on boosting the economic impact of businesses operating within the MRC d’Abitibi-Ouest. Eligible projects are those that aim to develop the enterprise and contribute to job creation or retention in the region.

Projects that enhance the growth and expansion of Quebec-based businesses.
Initiatives that help preserve existing jobs within the company.
Activities aimed at increasing the current operational capabilities of local businesses.

Eligibility criteria of the MRC Abitibi-Ouest — Local Investment Funds program

Eligibility for this grant is determined by specific criteria related to the legal status, location, and activities of the applicant.

The applicant must be a for-profit enterprise legally constituted under the laws of the Government of Quebec or Canada.
The business must operate within the territory of the MRC d’Abitibi-Ouest.
The head office of the business must be located in Quebec.
The business must be registered with the Registre des entreprises du Québec (REQ).
Collective enterprises, such as cooperatives and non-profit organizations with market activities as defined by the Social Economy Act, are also eligible.

Who is eligible?

The "Fonds locaux" are accessible to for-profit businesses legally constituted under the laws of the Government of Quebec or Canada, conducting business in the MRC d'Abitibi-Ouest area, and having their head office in Quebec, provided they are registered with the Quebec Enterprise Register (REQ). Additionally, collective enterprises such as cooperatives and non-profit organizations (NPOs) with commercial activities, as defined under the Law on Social Economy (RLRQ, chapter E 1.1.1), are also eligible, though they must meet conditions specified in annex "A" of the investment policy.

Eligible geographic areas

This grant is focused on supporting businesses located within a specific regional jurisdiction. Eligible companies must be operating on the territory specified by the funding organization.

Companies operating on the territory of the MRC of Abitibi-Ouest.
Businesses with headquarters in Quebec.

How to apply to the MRC Abitibi-Ouest — Local Investment Funds program

Consultation with an advisor

Contact a development advisor for detailed information about the program and assistance with preparing your application.

Completion of the form

Obtain the Financial Assistance Application Form for Businesses.
Fill out the form with all the required information regarding your business and your project.
Attach the necessary documents such as registration with the Quebec Enterprise Register (REQ) if applicable.

Application submission

Please submit the duly completed form, along with all the necessary documents, following the instructions provided by the advisor or on the Local Funds platform.

Additional information

Here are additional relevant details for this grant:

The financial assistance provided is a repayable loan.
The possibility of a capital repayment moratorium is offered, although interest remains payable monthly.
It is possible to repay the loan fully or partially at any time without penalty or prior notice.
A minimum equity requirement of 15% is stipulated for both new projects and existing businesses, with a typical requirement of 20%.
A dedicated application form is required, which should be completed with assistance from their development advisors.
Development advisors are available to assist entrepreneurs throughout their project stages.
Contact information for development advisors is provided for those seeking further information about the program.

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