MRC Charlevoix - Local Investment Fund (FLI) and Local Solidarity Fund (FLS)
Last Update: May 13, 2025
QC, Canada
Supports entrepreneurship and economic growth with risk capital
MRC Charlevoix - Local Investment Fund (FLI) and Local Solidarity Fund (FLS) at a glance
Eligible Funding
- Max. $225,000
- Up to 50% of project cost
Timeline
- Continuous Intakes
Financing Type
Expert Advice
Loans and Capital investments
Eligible Industries
- 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 Providers
- MRC Charlevoix
Status
Open
Overview of the MRC Charlevoix - Local Investment Fund (FLI) and Local Solidarity Fund (FLS) program
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.
Financing 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.
Eligible projects & activities
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.
Examples of admissible projects:
$ 100,000
Launch a new artisanal bakery with sustainable practices
$ 125,000
Expand renewable energy consultancy for regional impact
$ 180,000
Expand a local craft brewery to boost production capacity
$ 150,000
Start a new technology incubator supporting local startups
$ 70,000
Acquire a struggling bookstore to rejuvenate community access to books
Eligibility criteria of the MRC Charlevoix - Local Investment Fund (FLI) and Local Solidarity Fund (FLS) program
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.
Who is eligible?
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.
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.
Eligible geographic areas
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.
How to apply to the MRC Charlevoix - Local Investment Fund (FLI) and Local Solidarity Fund (FLS) program
1
Initial contact
Contact the development department of your regional county municipality or your municipality exercising MRC powers to obtain preliminary information.
2
Preparation of the request
- Gather the necessary documents, including proof of financing from a Local Investment Fund (LIF).
- Compile evidence of the legality of the target company and the documentation for the acquisition or transfer of the business.
- Prepare the budgets and estimated costs for the acquisition, including the specialized services requested.
3
Filling out the form
Fill out the financial aid application form with the required information.
4
Submission of the application
- Submit the complete application to the MRC or the delegated organization, as indicated in the guidelines.
- Ensure that the application is submitted before the deadline.
Additional information
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.