MRC L'Érable — FLI - Social economy development
QC, Canada
Social economy project funding up to $25,000
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
- Health care and social assistance
- Other services (except public administration)
- Public administration
grant_single|grantors
- MRC L'Érable
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds local d'investissement - Économie sociale provides up to $25,000 in financial support to non-profit organizations and cooperatives for projects that address community-defined social needs. The program aims to support the development and expansion of social economy projects while requiring 20% autonomous revenue generation.
grant_single_labels|projects
The local investment fund for social economy provides financial support to projects that address community needs through social objectives. Eligible projects are those that incorporate a significant social component and ensure some level of self-generated revenue.
- Projects that pursue a social purpose and directly respond to identified community needs.
- Projects that demonstrate self-sufficiency by generating at least 20% of their revenue independently.
grant_single_labels|admissibility
The company eligibility criteria for this grant are based on the type of organization applying and the nature of the project.
- The applicant must be a non-profit organization and incorporated.
- The applicant can also be a cooperative.
grant_eligibility_criteria|who_can_apply
Eligible organizations for this grant include registered non-profit organizations and cooperatives. They must be engaged in projects that have a social goal, address social needs identified by the community, and generate at least 20% autonomous income.
grant_single_labels|criteria
The selection criteria for projects under the "Fonds local d'investissement - Économie sociale" grant focus on the project's alignment with social goals and its financial sustainability.
- Project that pursues a social purpose.
- Project that addresses social needs as determined by the community.
- Self-generated revenues of 20%.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Verify Eligibility
- Ensure your organization is a nonprofit or a cooperative as required.
- Confirm that your project aligns with the social economy and community needs criteria.
- Step 2: Prepare Required Documents
- Develop a comprehensive business plan with detailed project descriptions.
- Prepare financial projections for the next three years.
- Gather any additional documents requested by Développement économique de L'Érable.
- Step 3: Contact Grant Provider
- Reach out to Étienne Drainville, the Senior Business Advisor, for any queries or clarifications regarding the application process.
- Email Étienne Drainville at the provided email address or call 819 362-2333, extension 1224, if needed.
- Step 4: Submit Application
- Send your completed application along with all required documents to Développement économique de L'Érable.
- Ensure that all materials are submitted before any specified deadlines.
- Step 5: Confirmation of Submission
- Await confirmation from Développement économique de L'Érable regarding the receipt of your application.
- Keep the confirmation for your records.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The interest rate starts at 0.5% for the first year and increases by 0.5% annually, up to a maximum of 3.5% by the end of the seven-year term.
- The amortization period for the loan can vary between 36 and 84 months, providing flexibility in repayment schedules.
- There are no file processing fees, making the application more accessible to organizations with smaller budgets.
- Organizations must generate 20% of their revenues autonomously, indicating a focus on projects with sustainable financial models.
- Economic Development of L’Érable reserves the right to change the program conditions without prior notice, which suggests the need for applicants to stay informed of any updates.
grant_single_labels|contact
819 362-2333
Apply to this program
Supporting Social Economy Initiatives in L'Érable
This grant aims to financially support the development of social economy projects that address community needs in the L'Érable region. It offers funding to eligible nonprofits and cooperatives to help achieve their social objectives.
Detailed Insights into the Fonds local d'investissement - Économie sociale
The Fonds local d'investissement - Économie sociale is a financial initiative created by Développement économique de L'Érable to bolster social economy projects that meet urgent community needs. With an objective to foster local development, this grant extends financial aid up to $25,000, covering 50% of the project's cost. The repayment terms are notably favorable, with a starting interest rate of 0.5% for the first year, incrementing annually by 0.5%, and capping at 3.5% by the end of a seven-year term. The amortization period ranges between 36 to 84 months, offering flexible financial planning for beneficiaries. Additionally, an attractive feature of this funding opportunity is the absence of application fees, making it more accessible for organizations striving to implement beneficial social initiatives.
Eligible organizations, including incorporated nonprofits and cooperatives, have unique opportunities to expand or launch projects that align with their social missions and community requirements. Projects must demonstrate a social purpose and cater to specific social needs identified by the constituents of the L'Érable region. Furthermore, these ventures should exhibit at least 20% autonomous revenue generation, showcasing their sustainability and potential for growth beyond just the initial financial support.
To apply, organizations need to submit a comprehensive business plan, which encompasses financial projections for a three-year period, along with any other documentation requested by Développement économique de L'Érable. This thorough application process ensures that the funding is allocated to projects with clear plans for sustainability and social impact.
Overall, the design of this grant not only facilitates the economic growth of the region but also encourages innovative solutions to social issues, thereby enhancing the quality of life for the community. By supporting projects that prioritize social benefits, the Fonds local d'investissement - Économie sociale exemplifies a commitment to sustainable development grounded in community-oriented values. Moreover, beneficiaries have the opportunity to partake in a nurturing ecosystem where cooperation and social innovation are actively promoted.
As part of a broader objective to sustain economic and social balance, this grant plays a crucial role in transforming potential ideas into operational programs that could potentially set new benchmarks in social entrepreneurship. The structural flexibility and robust support systems associated with this grant ensure that pioneering projects not only get started but also stand the test of time, thus contributing to the overall dynamism of the regional economy.
This initiative by Développement économique de L'Érable represents a remarkable chance for nonprofit organizations and cooperatives to harness collective efforts towards impactful and enduring community development. Organizations benefiting from this fund have the remarkable opportunity to implement projects that not only address immediate social challenges but also lay down a sustainable foundation for future progress. By leveraging such financial opportunities, these groups can drive meaningful change, exemplifying the tangible benefits of strategic investment in the social economy sector.
