How much funding can be received?

Funds up to 50% of admissible expenses, capped at $150000 per project.

What is the deadline to apply?

The deadline to apply is 2025-12-31T23:59:59Z.

Who are the financial supporters of the Local investment fund?

Local investment fund is funded by Ministère de l'économie, de l'innovation et de l'énergie du Québec (MEIE), Gouvernement du Québec

What are Local investment fund's eligibility criterias?

The business must be legally constituted under the laws of Quebec or Canada. Collective enterprises, such as cooperatives or non-profit organizations with commercial activities, are eligible. The organization must not be listed in the Register of Ineligible Enterprises for Public Contracts (RENA).

Local investment fund

Last Update: April 22, 2025

QC, Canada

Loans for entrepreneurs in Quebec

Local investment fund at a glance

Eligible Funding

Max. $150,000
Up to 50% of project cost

Timeline

Open Date : January 1, 2023
Closing date : December 31, 2025

Financing Type

Loans and Capital investments

Eligible Industries

All industries

Grant Providers

Ministère de l'économie, de l'innovation et de l'énergie du Québec (MEIE)
Gouvernement du Québec

Status

Open

Overview of the Local investment fund program

Loans and loan guarantees to start or expand a business, or purchase at least 25% of an existing business, in Quebec.

Financing terms and conditions

Financial aid covers up to 50% of eligible expenses for for-profit enterprises, and up to 80% for social economy enterprises.
The total amount of government assistance cannot exceed 50% of total project costs, except for social economy projects, where it may reach 80%.
The maximum funding amount is $150,000 per twelve-month period; higher amounts may be granted at the discretion of the Government of Quebec.
Each investment project must include a minimum contribution (equity) from the promoters or the company equal to 15% of total project costs.
Financial aid is provided in the form of loans, loan guarantees, or equity participation, excluding grants or sponsorships.

Eligible projects & activities

Startup projects for new businesses in the commercialization phase.
Projects focused on business improvement and transformation, including productivity enhancement, digital transformation acceleration, and implementation of sustainable organizational practices.
Business growth and expansion projects, supporting investment in the expansion of established enterprises.
Entrepreneurial succession projects involving the acquisition of significant ownership or assets for business succession and continuity.

Examples of admissible projects:

$ 150,000

Launching an artisan bakery with digital solutions

$ 100,000

Digitizing the wholesale inventory management system for a small business

$ 150,000

Scaling up a local organic farm by acquiring new machinery

$ 150,000

Acquiring a 30% stake in a childcare center

$ 150,000

Opening a new eco-friendly co-working space

$ 150,000

Establishing a community arts center with digital workshops

Eligibility criteria of the Local investment fund program

The applicant must be a legally constituted for-profit business under the laws of the Government of Quebec or Canada, or a collective enterprise (cooperative or non-profit with commercial activity).
The organization must be legally constituted in Quebec, conduct business in Quebec, and operate an enterprise there, regardless of its constitutive law.
The applicant must not be, or use the services of, subcontractors listed on the Registry of Enterprises Ineligible for Public Contracts (RENA).
The applicant must have met all prior financial aid obligations from the Government of Quebec or a regional county municipality (MRC) for at least two years.
The applicant must not be a state corporation, or controlled directly or indirectly by a government (municipal, provincial, or federal), a municipal entity, or a company majority-owned by a state corporation.
The applicant must not be undergoing bankruptcy or insolvency proceedings.
The applicant must comply with the investment policy of the relevant MRC.
The applicant must not have committed ethical violations or offer products/services that could harm the integrity or reputation of the Government of Quebec.

Who is eligible?

For-profit companies legally incorporated under the laws of Quebec or Canada
Collective enterprises such as cooperatives with commercial activity
Non-profit organizations (NPOs) with commercial activity

Who is not eligible

State-owned enterprises or companies directly or indirectly controlled by a government (municipal, provincial, or federal).
Entities controlled by a municipal entity.
Companies majority-owned by a state-owned enterprise.
Companies or subcontractors registered on the Register of enterprises ineligible for public contracts (RENA).
Businesses in a situation of bankruptcy or insolvency.
Organizations that have not fulfilled obligations related to previous financial aid from the Government of Quebec or the Regional County Municipality (MRC) for at least two years.
Businesses engaged in unethical conduct or offering products or services that may compromise the integrity or probity of the Government of Quebec.
Companies not eligible under the investment policy of the respective MRC.

Eligible expenses

Additional working capital required for the project, justified and reasonable, for up to two years.
Capital expenditures directly related to project execution, including acquisition of technology, land, buildings, equipment, machinery, and rolling stock.
Construction, expansion, renovation, and layout of land and premises directly tied to the project.
Professional fees for activities prior to project execution, such as feasibility analyses, external audits, or impact studies.
Professional fees directly related to implementing technologies, equipment, machinery, or developing premises.
Acquisition costs for business ownership (voting shares or equity) and assets in cases of business succession.
Professional fees directly related to the transaction, acquisition, and management transfer for business succession.

Eligible geographic areas

All regions and municipalities within the province of Quebec, as managed by their respective Regional County Municipalities (MRCs) or local economic development organizations.

How to apply to the Local investment fund program

Eligibility Check

Make sure that your business meets the eligibility criteria detailed in the appropriate section.
Check that your project is also eligible according to the defined project types (startup, improvement, transformation, etc.).

Preparation of the required documents

Gather all the necessary documents to justify your request (feasibility study, impact analysis, etc.).
Prepare a financing plan detailing the costs and funds required.
Ensure that all documents are up to date and meet the requirements of the MRC in your region.

Contact the MRC or the responsible organization

Contact the MRC, the municipal office, or the organization responsible for managing the local investment fund in your area for specific information.
Check the specific terms and any updates to the local investment policies.

Submission of the request

Compile your complete application file with all the required documents.
Submit your application, in person or by the means indicated by your MRC, within the given deadlines.

Follow-up of the request

Make sure to receive an acknowledgment of receipt of your submission from the MRC or the relevant organization.
Be prepared to provide additional information if required during the analysis of your request.

Additional information

Management and specific terms of the Local Investment Fund may vary depending on the policy of each Regional County Municipality (MRC).
The assistance modalities are in effect until December 31, 2025.
The most recent update to the program details was published on June 22, 2023.