MRC Charlevoix - Local Investment Fund (FLI) and Local Solidarity Fund (FLS)
QC, Canada
Supports entrepreneurship and economic growth with risk capital
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
Expert Advice
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
- Construction
- Manufacturing
- Retail trade
- Professional, scientific and technical services
- Accommodation and food services
- Other services (except public administration)
- Public administration
grant_single|grantors
- MRC Charlevoix
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) programs offer up to $225,000 in venture capital per project to support entrepreneurship by financing the startup, expansion, or acquisition of businesses. The programs aim to create viable businesses, support job development, and contribute to the economic growth of the MRC territory.
grant_single_labels|terms_and_conditions
This grant offers financial support to entrepreneurs seeking to acquire businesses in Quebec, aiming to foster a culture of entrepreneurship and business sustainability. The financing modalities are structured to assist with the costs associated with the acquisition process.
- Offers up to $225,000 in venture capital per project for startups and growing private and collective enterprises.
- Covers up to 50% of the total costs of certain professional services related to business acquisition, with a maximum limit of $15,000, excluding taxes.
- Disbursement of funds is authorized by the MRC or the delegate organization according to the modalities established by the FQM.
- Eligible expenses include due diligence to determine the fair market value of a business, preparation of the business transfer agreement, and fees for professionals like accountants, lawyers, and notaries.
- Any expenses incurred before the grant application submission date are not covered.
grant_single_labels|projects
This grant facilitates financial support for entrepreneurs to acquire businesses in Quebec. It funds specialized services that assist in the business transition process.
- Due diligence to determine the fair market value of a business.
- Preparation of business succession agreements.
- Professional fees for specialists such as accountants, lawyers, notaries, and human resource experts involved in business succession projects.
grant_single|admissibleProjectsExample
$ 100,000
Launch a new artisanal bakery with sustainable practices
$ 180,000
Expand a local craft brewery to boost production capacity
$ 125,000
Expand renewable energy consultancy for regional impact
$ 70,000
Acquire a struggling bookstore to rejuvenate community access to books
$ 150,000
Start a new technology incubator supporting local startups
grant_single_labels|admissibility
Eligibility for this grant is determined by specific criteria related to the status and location of the acquiring entity and their connection to a financing project by the local investment fund.
- The enterprise to be acquired must be legally constituted under the laws of the Government of Quebec or Canada and have an establishment in Quebec.
- If the acquirer is not incorporated, they must be a Canadian citizen or permanent resident.
- The acquirer must be linked to a project that has obtained financing through the Local Investment Fund (FLI) of the MRC or a municipality exercising MRC powers.
- Additional public assistance of the same nature for the same project is not permitted.
- The professional engaged for due diligence must possess the expertise to participate in an enterprise succession project.
grant_eligibility_criteria|who_can_apply
Any entrepreneur receiving financing from a Local Investment Fund (FLI) of an MRC or a municipality exercising MRC powers in Quebec, who wishes to acquire a legally constituted enterprise in Quebec. These entrepreneurs can include family members, employees, or external buyers, including collective takeovers.
grant_eligibility_criteria|eligible_expenses
The grant provides financial support for specific expenses related to business acquisition processes.
- Costs associated with due diligence to determine the fair market value of a business.
- Preparation costs for the business acquisition agreement.
- Professional fees for specialists such as accountants, lawyers, notaries, and human resources experts involved in the business succession project.
grant_eligibility_criteria|zone
This funding program is targeted towards supporting businesses within the geographic region defined by the MRC presence in Quebec. Eligible companies must align with the territorial and economic objectives established for the MRC of Charlevoix.
- Businesses located within the region of MRC Charlevoix, Quebec.
- Enterprises situated in areas governed by municipalities with MRC powers within Quebec.
grant_single_labels|register
- Step 1: Research Eligibility
- Ensure your business is a legally constituted company in Quebec or Canada.
- Verify that you are eligible for funding under the Fonds local d’investissement (FLI) or Fonds local de solidarité (FLS).
- Step 2: Prepare Necessary Documents
- Gather all necessary financial and legal documents required for the application.
- Prepare a business plan if necessary, outlining the project objectives and expected outcomes.
- Identify any professionals required for due diligence, such as accountants or lawyers.
- Step 3: Contact Development Service
- Reach out to the development service of your regional county municipality or municipality exercising MRC powers for guidance on the application process.
- Step 4: Financial Planning
- Estimate the costs related to acquiring the business, including professional fees.
- Ensure your financing plans cover at least 50% of these costs, as the grant covers up to 50%.
- Step 5: Submit Application
- Fill out the application form with all the required details and attach necessary documents.
- Submit the application to the MRC or the delegate organization according to their specified process.
- Ensure submission before incurring any related expenses not covered by the grant.
- Step 6: Await Confirmation
- Wait for confirmation from the MRC or delegate organization regarding the status of your application.
- Follow up if needed to ensure all necessary steps are completed.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The funding includes venture capital specifically targeting both private and collective businesses.
- Applicants can receive up to $225,000 in funding for eligible projects.
- The funds contribute to the local economic development within the designated MRC territory.
- Total assets available for the fund amount to approximately $2.3 million.
