MRC L'Érable — FLI - Social economy development

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.

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.

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%.

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.