Local investment fund

• 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.

• 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.