Local investment fund
At a glance
- Max. $150,000
- 80% of project cost
- Open Date : November 14, 2019
- All industries
- Gouvernement du Québec
- Ministère de l'Économie et de l'Innovation
Overview
Eligibility criteria
The local investment funds aim to support local entrepreneurship by facilitating access to capital and accelerating the realization of projects such as startup, improvement, growth, and succession.
- Eligible clients include for-profit businesses legally constituted under Quebec or Canadian laws and collective enterprises (cooperatives and NPOs) with commercial activities.
- Admissible projects include startup ventures, improvement and transformation projects, business growth and expansion initiatives, and entrepreneurial succession plans.
- Specific eligibility criteria for each type of project, including activity duration, types of expenses, and financial contributions, must be met to qualify for funding.
Who is eligible
Yes, there are eligible types of companies for this grant. Businesses that are for-profit entities legally constituted under the laws of the government of Quebec or Canada, as well as collective enterprises (cooperatives and non-profit organizations) engaged in commercial activities are eligible.
- For-profit entities legally constituted in Quebec or Canada
- Collective enterprises (cooperatives and non-profit organizations) engaged in commercial activities
Who is not eligible
Some types of companies are not eligible for the grant. Specifically, the ineligible companies are:
- Sociétés d’État or those controlled directly or indirectly by a government entity
- Entities in a situation of bankruptcy or insolvency
- Companies involved in ethical breaches or offering products/services that could compromise the integrity of the government
Eligible expenses
The eligible expenses for this grant include:
- Working capital needs required for the project for up to two years
- Capital expenses directly related to the project implementation such as technology acquisition, land, building, equipment, machinery, and rolling stock
- Fees for activities related to project feasibility analysis, external audits, or impact studies
- Fees directly related to project activities like technology implementation, equipment, machinery, construction, renovation, and facility development
Eligible projects & activities
There are eligible projects for this grant. The eligible projects include:
- Startup projects for businesses operating for less than two years.
- Projects for improving productivity, digital transformation, and sustainable organizational practices.
- Growth and expansion projects for businesses operating in Quebec for at least two years.
- Succession planning projects for entrepreneurs acquiring a significant stake in an existing business for continuity.
Evaluation & selection criteria
Funds local investments have evaluation criteria and a selection process. The criteria include business type, legality, ethical standards, eligibility for government aid, and financial stability. The selection process is managed by the MRCs.
- Business type and legality
- Eligibility for government aid and compliance with ethical standards
- Financial stability and two-year record of obligations fulfillment
How to apply
- Contact the MRC, the municipal office, or the organization responsible for managing the local investment fund in your area.
Local Investment Funds
The Local Investment Funds aim to support local entrepreneurship by facilitating access to capital and accelerating the realization of projects, including start-ups, improvement, growth, and entrepreneurial succession.
Overview of the Local Investment Funds
The Local Investment Funds are designed to stimulate local entrepreneurship by providing financial support to businesses in various stages, such as start-ups, improvement and transformation, growth and expansion, and entrepreneurial succession. Eligible businesses include for-profit entities and collective enterprises (cooperatives and NPOs) legally established in Quebec or Canada. The funding can be used for projects like launching a new business, enhancing productivity, digital transformation, sustainable practices, business growth, and acquiring existing businesses for succession planning.
Admissible expenses vary based on the project type and can include working capital, capital expenditures, pre-project activities, and acquisition costs for succession projects. The funding can be in the form of loans, participative loans, loan guarantees, or capital investments, with a maximum aid amount of $150,000 over twelve months. The program is in effect until December 31, 2025, and managed by the regional county municipalities (MRCs).
