Joint FLI/FLS Investment Policy – Local Investment and Solidarity Funds

• Completed, dated, and signed application form
• Business plan or detailed project description
• Detailed breakdown of project expenses
• Financial package and confirmation of other financing
• Financial statements and supporting declarations

Who is eligible?

• For-profit incorporated businesses
• Social economy businesses, including cooperatives and non-profits with market activities
• Businesses operating in the MRC of La Haute-Côte-Nord

Who is not eligible

• Businesses listed in the Register of Enterprises Ineligible for Public Contracts
• State-owned or government-controlled companies
• Businesses under bankruptcy or insolvency proceedings
• Companies in excluded sectors such as weapons, fossil fuels, gambling, violence, sex-related activities, tobacco, and most drug-related activities

Eligible expenses

• Working capital for eligible projects
• Capital costs directly tied to project implementation
• Professional fees related to feasibility, audits, technology deployment, construction, or transaction support
• Acquisition of business shares, assets, technology, land, buildings, equipment, machinery, and vehicles

Ineligible Costs and Activities

• Expenses incurred before the application is filed
• Debt service, loan repayment, and capital replacement
• Research and development expenses
• Normal operating expenses and Quebec sales taxes
• Activities in excluded sectors such as weapons, fossil fuels, gambling, violence, sex-related activities, and tobacco or drugs

Eligible geographic areas

• MRC of La Haute-Côte-Nord
• Quebec

• Business viability and repayment capacity
• Promoters’ experience and management skills
• Environmental and social benefits
• Employee relations and openness toward workers
• Participation of other financial partners

• Step 1: Prepare the application
  • Complete and sign the application form.
  • Prepare the business plan or detailed project description.
  • Assemble the financial package and supporting declarations.
• Step 2: Submit the file to the MRC
  • Send the completed application and required documents to the MRC.
  • Include all information needed for eligibility review and analysis.
• Step 3: Review and decision
  • The MRC reviews the file as information is received.
  • The application is assessed and a decision is made based on the program rules.

• Applications are reviewed by the MRC for eligibility, analysis, and decision-making
• Files are processed continuously as information is received
• Evaluation takes into account available budget and program rules
• Recovery measures may apply if borrower obligations are not respected

• The MRC may request additional documents as needed.
• Applications are reviewed continuously.
• The program is managed by the MRC of La Haute-Côte-Nord.
• The policy entered into force on September 19, 2023.