MRC L'Érable — Local Investment Fund (FLI)
QC, Canada
Local Investment Fund: financial aid for business growth
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
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- MRC L'Érable
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds local d’investissement (FLI) - General Component provides technical and financial assistance to startups, expanding businesses, or businesses undergoing restructuring, offering up to $150,000 in funding, which can cover up to 50% of eligible expenses (80% for social economy enterprises). Eligible activities include starting a business, enhancement and transformation, growth and expansion, and business succession, with funds available for working capital, land, buildings, equipment, and professional fees, excluding R&D activities.
grant_single_labels|terms_and_conditions
The Local Investment Fund (FLI) provides technical and financial support to businesses, ensuring flexible financing based on a variety of terms. The fund is structured to assist projects in various stages, from initiation to expansion.
- Financial assistance reaches up to $150,000, covering a maximum of 50% of eligible expenses, or up to 80% for social economy enterprises.
- Loans over $25,000 must be combined with an FLS loan.
- The interest rate is based on the Bank of Canada’s prime rate plus a risk premium, with a minimum base rate of 4.5%.
- Amortization periods range from 36 to 84 months.
- A 1% application fee is charged.
grant_single_labels|projects
This fund provides both technical and financial support to enterprises that are at various stages of development. The eligible projects encompass a range of business activities crucial for enterprise growth and sustainability.
- Start-up activities for new businesses.
- Improvement and transformation initiatives for existing enterprises.
- Growth and expansion projects for scaling operations.
- Entrepreneurial succession planning and execution.
grant_single_labels|admissibility
Eligibility for the Fonds local d’investissement (FLI) – volet général is defined by specific criteria associated with the company's sector and financial projections.
- The company must operate in any sector of activity.
- The project must demonstrate viability and profitability.
- The project must have economic impacts.
- The company must have an equity of 20% after the project.
grant_eligibility_criteria|eligible_expenses
The grant covers a range of expenses essential for the establishment, expansion, or restructuring of a business project.
- Working capital for the first two years of the project's implementation.
- Purchase of land and buildings.
- Acquisition of equipment and rolling stock.
- Incorporation fees.
- Investment in technology, software, and patents.
- Professional fees.
grant_eligibility_criteria|zone
This grant is provided by the economic development of L'Érable, suggesting it is intended for businesses within that locale. There is no explicit mention of specific eligible geographical areas in the provided information.
grant_single_labels|criteria
The evaluation and selection of projects for the Fonds local d’investissement (FLI) – volet général are focused on several key factors to ensure projects align with the fund's criteria and objectives.
- Viability and profitability of the project.
- Economic impacts of the project.
- Post-project equity of 20%.
grant_single_labels|register
- Step 1: Verify Eligibility
- Ensure your business meets the criteria set out for the Fonds local d’investissement (FLI) – volet général, including project type and financial needs.
- Step 2: Prepare Documentation
- Create a comprehensive document presenting your project, its objectives, and anticipated economic impacts.
- Develop financial forecasts covering at least the next three years, demonstrating the project's viability and profitability.
- Gather additional relevant documents that can support your application, such as business plans or letters of intent.
- Step 3: Review Financial Requirements
- Assess the coverage of eligible expenses through the grant, and prepare documentation for expenses such as equipment, real estate, or professional fees.
- Ensure any additional financing required, such as a mandatory FLS loan if seeking more than $25,000, is arranged.
- Step 4: Complete Application Form
- Fill out the application form provided by Développement économique de L'Érable completely and accurately.
- Step 5: Submit Application
- Double-check all information and supporting documents for completeness and accuracy.
- Submit your application to Développement économique de L'Érable by the specified deadline.
- Step 6: Await Confirmation
- Look for confirmation of receipt from Développement économique de L'Érable to ensure your application is being processed.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- A loan exceeding $25,000 must be combined with a Fonds local de solidarité (FLS) loan.
- The interest rate applied is based on the Bank of Canada's benchmark rate with an added risk premium, not falling below a base rate of 4.5%.
- The amortization period for the loan ranges from 36 to 84 months.
- An administration fee of 1% is applied to the loan.
- Technical and financial assistance is available for businesses at various stages, including startup, expansion, and restructuring.
- Equity after the completion of the project must be at least 20%.
