MRC La Jacques-Cartier — Local Investment Fund (FLI)
Last Update: January 24, 2025
QC, Canada
Local Investment Fund supports business growth and entrepreneurship
MRC La Jacques-Cartier — Local Investment Fund (FLI) at a glance
Eligible Funding
- From 5,000 to 50,000
- Up to 15% of project cost
Timeline
- Continuous Intakes
Financing Type
Loans and Capital investments
Eligible Industries
- All industries
Grant Providers
- MRC La Jacques-Cartier
Status
Open
Overview of the MRC La Jacques-Cartier — Local Investment Fund (FLI) program
The Fonds local d’investissement (FLI) offers support to businesses, including social economy enterprises, for start-up, expansion, consolidation, and entrepreneurial succession, with a maximum funding amount of $50,000. Eligible activities involve financing working capital, equipment purchases, and certain acquisition and expertise costs related to business succession.
Financing terms and conditions
This grant offers interest-bearing term loans designed to facilitate business development and economic growth within the region. The financing modalities are structured to support various stages of business projects requiring capital investment.
- Loan amounts range from $5,000 to $50,000.
- The loan amortization period ranges from 3 to 7 years.
- Financing is provided as a term loan with interest.
- Loan funds can be used for working capital, equipment purchases, or fixed asset acquisition.
- For business succession projects, costs related to acquisition and expertise may be financed.
Eligible projects & activities
The Local Investment Fund (FLI) grant is designed to support a variety of business-related activities that stimulate economic growth in the MRC La Jacques-Cartier region. These projects range from business formation to expansion and transfer of ownership.
- Launching new business ventures.
- Business expansion efforts.
- Enterprise improvement and transformation.
- Entrepreneurial succession planning and business acquisition.
Eligibility criteria of the MRC La Jacques-Cartier — Local Investment Fund (FLI) program
The eligibility for the Fonds local d’investissement (FLI) grant is determined by specific criteria related to the type of organization and the nature of the project.
- The applicant must be a private, for-profit business, a social economy enterprise, or a cooperative.
- The project must involve business start-up, expansion, or business succession (acquisition in whole or in part of an existing business).
- The applicant must provide a minimum equity of 15% of the total project cost.
- Funding requests must be at least $5,000 and not exceed $50,000.
Who is eligible?
The Fonds local d’investissement (FLI) aims to support private for-profit businesses, social economy enterprises, and cooperatives that are either starting up, expanding, undergoing a business succession (acquisitions in whole or part of an existing business), or operating in different stages of business development.
Eligible expenses
The grant supports specific costs to bolster entrepreneurial endeavors in the Jacques-Cartier region.
- Working capital necessary for operational needs.
- Purchase of equipment and capital expenditures vital for business operations.
- In cases of succession projects, certain acquisition and expertise fees.
Eligible geographic areas
This grant is available to companies located in the MRC de La Jacques-Cartier region, as this area is supported by the Local Investment Fund (FLI) to foster economic development.
- Companies based in the MRC de La Jacques-Cartier region.
How to apply to the MRC La Jacques-Cartier — Local Investment Fund (FLI) program
1
Eligibility Check
- Ensure that your business meets the eligibility criteria (being a for-profit private enterprise, a social economy enterprise, or a cooperative).
- Confirm that your project aligns with one of the objectives of the Local Investment Fund (start-up, expansion, or business succession).
2
Preparation of the documentation
- Prepare a detailed business plan including the nature of the project, financial needs, and implementation strategies.
- Gather evidence of funding contributions (at least 15% of the project cost).
- Establish a projected budget and a financing plan demonstrating leverage and complementarity with other sources of funding.
3
Contacting the SDE
- Contact the SDE for advice and additional information if necessary.
- Use the services offered by the SDE to optimize your request.
4
Filling out the application
- Access the FLI application form.
- Fill out the form in detail covering all requested aspects (company information, project description, etc.).
5
Submission of the application
- Check the accuracy and completeness of the request before sending.
- Submit the request via the method indicated by the organization (online, by email, or in person if specified).
6
Request follow-up
- Receive confirmation of the request's receipt from the organization.
- Monitor the progress of the request and provide additional information if required.
Additional information
Here are additional relevant details for this grant:
- The Fund must be used as a leverage instrument, and financial support must complement, not replace, private funding and other regular government programs.
- The financial aid is meant to stimulate the realization of the project.