MRC Abitibi — The Local Solidarity Fund (FLS)
Abitibi, QC, Canada
Local entrepreneurial loans for economic resilience and growth
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
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- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
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- grant_single|allIndustries
grant_single|grantors
- MRC Abitibi
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grant_card_status|open
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The CLD Abitibi's local investment funds offer repayable financial aid in the form of loans to stimulate local entrepreneurship, with a maximum funding amount of $35,000 available through the FLI-Relève program. This initiative supports new and existing businesses that contribute to economic benefits within the MRC d'Abitibi territory, particularly those striving for business succession or continuity.
grant_single_labels|projects
The Fonds Locaux financial program in the MRC d'Abitibi supports entrepreneurial activities aiming to strengthen the local economy. Eligible projects receive help to ensure their successful development and operational longevity.
- Access to capital for new and existing entrepreneurs.
- Support for business succession plans, including financial aid for acquiring a 25% stake in existing businesses.
- Non-repayable financial assistance to address specific business project needs.
grant_single_labels|admissibility
Eligibility for the Fonds locaux at CLD Abitibi is based on specific criteria related to the business's legal status and location.
- The enterprise must be legally constituted and registered with the Registraire des entreprises du Québec (REQ).
- The enterprise's head office must be located within the territory of the MRC d’Abitibi.
- The enterprise must generate economic benefits within the MRC d’Abitibi.
- All forms of legal business entities are eligible, but for non-profit organizations (NPOs), only those that are social economy enterprises are eligible.
grant_eligibility_criteria|who_can_apply
Eligible applicants for the Fonds locaux under the CLD Abitibi include legally constituted businesses registered with the Quebec Enterprise Register (REQ) that have their head offices located within the MRC d’Abitibi. These businesses must generate economic benefits on this territory. All legal forms of businesses are eligible; however, for non-profit organizations (NPOs), only those involved in social economy are eligible and must meet additional specific conditions.
grant_eligibility_criteria|zone
This grant is available to companies located within a specific geographical area defined by the funding body to stimulate local entrepreneurship. Eligible companies are determined based on their location to ensure they provide economic benefits to the designated territory.
- Companies with headquarters located in the territory of the MRC d’Abitibi.
grant_single_labels|register
- Step 1: Contact CLD Abitibi
- Reach out to CLD Abitibi at 819 732-6918 for initial consultation.
- Email at info@cldabitibi.com to inquire about suitable funding options.
- Step 2: Eligibility Check
- Confirm that your business is legally constituted and registered with the Registraire des entreprises du Québec (REQ).
- Ensure your business headquarters is located in MRC d’Abitibi and generates local economic impacts.
- Step 3: Discuss Financial Solutions
- Schedule a meeting with CLD Abitibi to discuss either the Local Investment Fund (FLI) or the Local Solidarity Fund (FLS).
- Explore the possibility of applying for the FLI Succession phase if applicable (for business acquisition).
- Step 4: Application Preparation
- Gather necessary business documents and financial statements.
- Prepare a detailed business plan outlining the potential economic impacts and job creation aspects.
- Step 5: Submit Application
- Compile and complete all necessary documentation for the loan application.
- Send the completed application package to CLD Abitibi either electronically or via their physical office.
- Step 6: Await Feedback
- Wait for the evaluation and feedback from CLD Abitibi regarding your application.
- Be prepared to provide any additional information if requested.
grant_single_labels|otherInfo
Here are additional relevant details for these funds:
- The Fonds local d’investissement includes a specific component called FLI-Relève which specifically supports entrepreneurs planning to take over an existing business, with loans ranging between $5,000 and $35,000.
- The FLI-Relève allows for a repayment moratorium of up to one year.
- There is a non-repayable financial support measure available to assist businesses with occasional needs following the funding of a business project through the local funds.
grant_single_labels|contact
8197326918
Apply to this program
Unlock Local Funding Opportunities in Abitibi
Explore the local funding programs offered by CLD Abitibi, designed to support entrepreneurship and stimulate economic growth within the region. These programs aim to provide accessible financial solutions for businesses to sustain and expand their operations.
Dive into the Local Fund Programs at CLD Abitibi
The CLD Abitibi offers two major local investment funds targeted at fostering entrepreneurship and economic development in the Abitibi region. These include the Local Investment Fund (FLI) and the Local Solidarity Fund (FLS), which provide repayable financial assistance in the form of loans to qualified enterprises. The primary mission of these funds is to stimulate local entrepreneurship by facilitating access to capital for businesses and offering financial and technical support to help new and existing companies create and sustain long-term jobs within the territory of the Abitibi MRC.
To be eligible for these funds, businesses must be legally constituted and registered with the Quebec Business Register (REQ), and their headquarters must be situated on the territory of the Abitibi MRC. The impact of these businesses on the local economy is a critical criterion for consideration. All legal forms of businesses are eligible, although for non-profit organizations (NPOs), only those engaging in social economy are considered, subject to certain conditions.
One unique aspect of the Local Investment Fund is its 'Relève' component (FLI-Relève), which offers specialized financial aid in the form of loans ranging from $5,000 to $35,000. This is specifically designed for entrepreneurs seeking to acquire a significant stake of at least 25% in an existing business, or to purchase its assets at fair value, as part of succession planning. Additionally, this component offers a one-year repayment moratorium, allowing entrepreneurs to stabilize and grow before beginning to pay back the loan.
Another vital measure provided through these local funds is the non-repayable financial aid or grants, which support various sporadic needs of businesses arising during the execution of a funded business project. This grant aims to strengthen businesses by addressing vulnerability areas, thus enhancing their overall success potential in business project execution.
Entrepreneurs and businesses interested in these funding opportunities are encouraged to contact CLD Abitibi directly to assess the most suitable financing option for their project needs. The expert team at CLD is ready to guide you through the application process and help you leverage these financial resources to advance your business goals while contributing to the economic vitality of the Abitibi region.
