Local investment fund
QC, Canada
Loans for entrepreneurs in Quebec
grant_single|update March 20, 2025
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateJanuary 1, 2023
- grant_single|closingDateDecember 31, 2025
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Gouvernement du Québec
- Ministère de l'économie, de l'innovation et de l'énergie du Québec (MEIE)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Loans and loan guarantees to start or expand a business, or purchase at least 25% of an existing business, in Quebec.
grant_single_labels|terms_and_conditions
This grant provides diverse financial support mechanisms designed to enhance regional entrepreneurship by facilitating access to capital. The support is tailored to the specific needs of local businesses and entrepreneurial projects.
- The financial assistance is available in the form of loans, participative loans, loan guarantees, endorsements, or acquisition of bonds or other debt securities.
- Financial participation can include equity investments, excluding grants, sponsorships, donations, and similar expenditures.
- The maximum financial assistance rate is 50% of eligible expenses for for-profit businesses and 80% for social economy enterprises.
- Total government assistance cannot exceed 50% of the total project cost, except for social economy enterprise projects, which may reach up to 80%.
- The maximum amount of assistance is $150,000 for a twelve-month period, with the possibility of higher amounts at the discretion of the Government of Quebec.
- Each investment project must include a minimum contribution (equity input) from the promoters or the business equivalent to 15% of its total cost.
grant_single_labels|projects
The Local Investment Fund aims to bolster local entrepreneurship by facilitating access to capital and expediting project realization in several key areas. These projects focus on the initiation and expansion of business ventures, organizational improvements, and business succession planning.
- Startup business projects: Supporting the commencement of commercial and operational activities for businesses active for less than two years.
- Business improvement and transformation projects: Supporting investment projects that enhance productivity, expedite digital transformation, or implement sustainable organizational practices for businesses active for at least one year.
- Business growth and expansion projects: Supporting investment projects that foster growth and expansion for businesses active for at least two years.
- Entrepreneurial succession projects: Supporting entrepreneurs or groups acquiring at least 25% of an existing business or its assets, excluding mere share or asset purchases not aligned with leadership succession.
grant_single|admissibleProjectsExample
$ 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
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's legal status and operational conditions.
- The applicant must be a legally constituted for-profit enterprise under the laws of Quebec or Canada.
- The applicant can also be a collective enterprise (cooperative or non-profit organization) with a commercial activity.
- The organization must operate in Quebec and be legally constituted in Quebec, regardless of its constitutive law's origin.
- The applicant must not appear in the Register of ineligible enterprises for public contracts (RENA).
- The applicant must have respected all obligations concerning previous financial aid awarded by the Government of Quebec or the regional county municipality (MRC) for at least two years.
- The applicant must not be a state corporation or an entity controlled by any level of government, a municipal entity, or a company majority-owned by a state corporation.
- The applicant must not be in a state of bankruptcy or insolvency.
- The applicant must not engage in unethical behavior or offer products or services that could compromise the integrity or probity of the Government of Quebec, even by association.
- The applicant must be eligible under the investment policy of the MRC.
grant_eligibility_criteria|who_can_apply
Eligible applicants for the Local Investment Funds include: legally constituted for-profit businesses under the laws of the Quebec or Canadian government; collective enterprises (cooperatives and non-profit organizations) engaged in commercial activities. To qualify, any organization must be legally established in Quebec and conduct business there, regardless of its constituting law (whether Quebec or elsewhere). Applicants must meet the following conditions: not be or use subcontractors listed in the Register of Enterprises Ineligible for Public Contracts (RENA); have fulfilled all their obligations related to any previous financial assistance from the Quebec government or a regional county municipality (RCM) for at least two years; not be a state-owned enterprise or a company directly or indirectly controlled by a government (municipal, provincial, or federal), a municipal entity, or a business majorly owned by a state-owned enterprise; not be in a state of bankruptcy or insolvency; not commit ethical breaches or offer products or services likely to undermine the integrity of the Quebec government even by association; be eligible under the investment policy of the RCM.
grant_eligibility_criteria|who_cannot_apply
This grant has several eligibility restrictions that exclude certain businesses from applying. These restrictions ensure that the funds are utilized by businesses that meet specific governmental criteria.
- Businesses that are listed on the Registre des entreprises non admissibles aux contrats publics (RENA).
- Companies that have not met previous financial aid obligations to the Government of Quebec or regional county municipalities in the last two years.
- State-owned enterprises or companies controlled directly or indirectly by any level of government (municipal, provincial, or federal), municipal entities, or businesses majority-owned by state-owned enterprises.
- Companies that are in a situation of bankruptcy or financial insolvency.
- Organizations engaged in unethical activities or those offering products or services that could compromise the integrity or neutrality of the Quebec government.
grant_eligibility_criteria|eligible_expenses
This grant offers financial support to local entrepreneurship initiatives through various types of projects. Eligible projects are tailored to enhance business commencement, transformation, growth, and entrepreneurial succession.
- Start-up business projects for companies operational for less than two years and entering commercialization phases.
- Business improvement and transformation projects for companies operational in Quebec for at least one year, focusing on productivity improvement, digital transformation, and sustainable practices implementation.
- Business growth and expansion projects for companies operational in Quebec for at least two years, fostering growth and investment realization.
- Entrepreneurial succession projects aiding entrepreneurs in acquiring a significant stake in existing businesses for future leadership.
grant_eligibility_criteria|zone
The Local Investment Fund is available to companies located within the regional county municipalities of Quebec. Eligible geographical areas include a variety of regions across this province, each with its own managing local investment authorities.
- Abitibi-Témiscamingue: Abitibi, Abitibi-Ouest, La Vallée-de-l'Or, Rouyn-Noranda, Témiscamingue
- Bas-Saint-Laurent: Kamouraska, La Matanie, La Matapédia, La Mitis, Les Basques, Rimouski-Neigette, Rivière-du-Loup, Témiscouata
- Capitale-Nationale: Charlevoix, Charlevoix-Est, La Côte-de-Beaupré, La Jacques-Cartier, L'Île-d'Orléans, Portneuf, Québec
- Centre-du-Québec: Arthabaska, Bécancour, Drummond, L'Érable, Nicolet-Yamaska
- Chaudière-Appalaches: Beauce-Sartigan, Bellechasse, La Nouvelle-Beauce, Les Appalaches, Les Etchemins, Lévis, L'Islet, Lotbinière, Montmagny, Robert-Cliche
- Côte-Nord: Caniapiscau, La Haute-Côte-Nord, Le Golfe-du-Saint-Laurent, Manicouagan, Minganie, Sept-Rivières
- Estrie: Brome-Missisquoi, Coaticook, La Haute-Yamaska, Le Granit, Le Haut-Saint-François, Les Sources, Le Val-Saint-François, Memphrémagog, Sherbrooke
- Gaspésie–Îles-de-la-Madeleine: Avignon, Bonaventure, La Côte-de-Gaspé, La Haute-Gaspésie, Le Rocher-Percé, Les Îles-de-la-Madeleine
- Lanaudière: D'Autray, Joliette, L'Assomption, Les Moulins, Matawinie, Montcalm
- Laurentides: Antoine-Labelle, Argenteuil, Deux-Montagnes, La Rivière-du-Nord, Les Laurentides, Les Pays-d'en-Haut, Mirabel, Thérèse-De Blainville
- Laval: Laval
- Mauricie: La Tuque, Les Chenaux, Maskinongé, Mékinac, Shawinigan, Trois-Rivières
- Montérégie: Acton, Beauharnois-Salaberry, La Vallée-du-Richelieu, Le Haut-Richelieu, Le Haut-Saint-Laurent, Les Jardins-de-Napierville, Les Maskoutains, Longueuil, Marguerite-D'Youville, Pierre-De Saurel, Roussillon, Rouville, Vaudreuil-Soulanges
- Nord-du-Québec: Administration régionale Baie-James (ARBJ)
- Outaouais: Gatineau, La-Vallée-de-la-Gatineau, Les Collines-de-l'Outaouais, Papineau, Pontiac
- Saguenay–Lac-Saint-Jean: Lac-Saint-Jean-Est, Le Domaine-du-Roy, Le Fjord-du-Saguenay, Maria-Chapdelaine, Saguenay
grant_single_labels|criteria
The evaluation and selection process for this grant is managed by the Municipal Regional Counties (MRC), and it involves determining the eligibility, analysis, and decision on financial assistance requests. Specific criteria are applied to assess the suitability of the projects for funding.
- Eligibility of the enterprise based on legal constitution requirements
- Compliance with past financial assistance obligations from the government or MRC
- Adherence to ethical standards and avoidance of conflicts with the integrity of the government
- Suitability of the project type (startup, improvement, transformation, growth, expansion, or entrepreneurial succession)
- Admissibility of the projected expenses
- Applicant's financial contribution of at least 15% of the total project cost
- Compliance with the policy of the MRC managing the fund
- Potential for meeting local economic development objectives
grant_single_labels|apply
grant_single_labels|otherInfo
Additional details to consider when applying for the Fonds locaux d’investissement:
- The financial aid does not include subsidies, sponsorships, donations, or similar expenses, focusing instead on various forms of loans or equity participation.
- The maximum aid rate is 50% of eligible expenses for for-profit companies and 80% for social economy enterprises.
- Government aid, in total, should not exceed 50% of the total project cost, except for social economy companies where it can reach up to 80%.
- The maximum aid amount is $150,000 for a 12-month period, although exceptions can be made at the Quebec government's discretion.
- Financing must include a minimum contribution (equity) by promoters or the company, equivalent to 15% of the project's total cost.
- The procedures and policies of local investment funds are managed by MRCs and may vary according to their investment policies.