MRC L'Érable — Local Investment Fund (FLI)
Last Update: January 25, 2025
QC, Canada
Local Investment Fund: financial aid for business growth
MRC L'Érable — Local Investment Fund (FLI) at a glance
Eligible Funding
- Max. $150,000
- Up to 50% of project cost
Timeline
- Continuous Intakes
Financing Type
Loans and Capital investments
Eligible Industries
- All industries
Grant Providers
- MRC L'Érable
Status
Open
Overview of the MRC L'Érable — Local Investment Fund (FLI) program
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.
Financing 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.
Eligible projects & activities
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.
Eligibility criteria of the MRC L'Érable — Local Investment Fund (FLI) program
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.
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.
Eligible geographic areas
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.
Eligibility criteria of the MRC L'Érable — Local Investment Fund (FLI) program
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%.
How to apply to the MRC L'Érable — Local Investment Fund (FLI) program
1
Preparation of the request
- Write a detailed project presentation document.
- Prepare three-year financial forecasts.
- Gather all other relevant documents required.
2
Evaluate eligibility
- Check that your business meets the criteria for viability and profitability.
- Ensure that your equity after the project will meet the minimum requirements of 20%.
3
Calculate the financing
- Assess the amount of eligible expenses.
- Determine the amount of financial aid required, up to $150,000 and a maximum of 50% of eligible expenses (80% for social economy enterprises).
- Ensure that a loan greater than $25,000 is combined with an FLS loan.
4
Submission of the request
- Contact Economic Development of L'Érable to find out the portal or submission address.
- Submit all required documents.
Additional information
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%.
Apply to this program
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