MRC L'Érable — FLI - Social economy development
Last Update: January 25, 2025
QC, Canada
Social economy project funding up to $25,000
MRC L'Érable — FLI - Social economy development at a glance
Eligible Funding
- Max. $25,000
- Up to 50% of project cost
Timeline
- Continuous Intakes
Financing Type
Loans and Capital investments
Eligible Industries
- Health care and social assistance
- Other services (except public administration)
- Public administration
Grant Providers
- MRC L'Érable
Status
Open
Overview of the MRC L'Érable — FLI - Social economy development program
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.
Financing terms and conditions
This grant offers flexible financing modalities designed to support social economy projects by providing financial assistance tailored to the needs of community-driven initiatives. The terms are structured to ensure affordable financing over a manageable timeline.
- Financial support of up to 50% of the total project cost, with a maximum contribution of $25,000.
- Initial interest rate set at 0.5% for the first year, progressively increasing by 0.5% each year until it reaches 3.5% at the end of 7 years, if applicable.
- Amortization period ranges from 36 to 84 months.
- No application or administrative fees are charged.
Eligible projects & activities
This grant aims to financially support social economy projects that address community needs. Eligible activities focus on socially-driven initiatives and sustainable revenue generation.
- Projects that follow a social mission supporting the community.
- Activities addressing specific social needs identified by the local community.
Eligibility criteria of the MRC L'Érable — FLI - Social economy development program
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.
Who is eligible?
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.
Eligible geographic areas
This grant specifically caters to organizations active in social economy development in the L'Érable region. The fund aims to support local community needs by financing eligible social economy projects.
- Organizations based in the L'Érable region.
Eligibility criteria of the MRC L'Érable — FLI - Social economy development program
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%.
How to apply to the MRC L'Érable — FLI - Social economy development program
1
Preparation of the required documents
- Prepare a detailed business plan with financial forecasts for three years.
- Compile all other possible documents that may be requested by Economic Development of L'Érable.
2
Initial contact
- Contact Étienne Drainville, Senior Business Advisor – financing, to clarify any additional requirements or documents to be submitted.
- Ask questions to ensure that all documents and information are properly prepared.
3
Submission of the request
- Submit the application documents by email to the provided address or by another means specified by Economic Development of L'Érable.
- Ensure that all documents are complete and properly formatted before submission.
Additional information
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.
Contact MRC L'Érable
819 362-2333
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