MRC L'Érable — Local Solidarity Fund (LSF)
QC, Canada
FLS supports business start-up, expansion, and consolidation
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
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Retail trade
- 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 de solidarité (FLS) offers technical and financial assistance of up to $100,000 for businesses in startup, expansion, or consolidation phases, focusing on projects such as entrepreneurial succession, business acquisition, and growth improvement. Eligible activities include working capital, land and equipment purchases, marketing expenses, and the acquisition of software technologies and patents.
grant_single_labels|projects
The Fonds local de solidarité (FLS) provides financial assistance to businesses in various phases of their development, focusing on those that demonstrate viability, profitability, and positive economic impacts. Eligible projects encompass a wide range of entrepreneurial activities aimed at enhancing or transforming business operations.
- Business Start-up
- Entrepreneurial Succession
- Business Acquisition
- Improvement and Transformation
- Growth Activities
- Temporary Financing
- Restructuring Efforts
grant_single_labels|admissibility
Eligibility for the Fonds local de solidarité (FLS) grant is determined by specific criteria related to the type of enterprise and the project's viability and impact.
- The business must fall into one of the following categories: commerce, service, manufacturing, social economy, or agricultural enterprise.
- The project must be viable and profitable.
- The project must have economic impacts.
- Eligible projects include start-ups, business succession, business acquisition, improvement and transformation, growth, temporary financing, and turnarounds.
grant_eligibility_criteria|who_can_apply
This grant provides technical and financial assistance to start-up, expanding, or consolidating businesses, with a focus on specific business types and project viability.
- Target businesses: Commercial enterprises, service providers, manufacturing companies, social economy enterprises, and agricultural businesses.
- Viability and profitability of the project.
- Economic impacts of the project.
- Projects eligible for funding include start-ups, entrepreneurial succession, business acquisition, improvement and transformation, growth, temporary financing, and business recovery.
grant_eligibility_criteria|eligible_expenses
The grant covers specific expenses necessary for starting, expanding, or consolidating business projects.
- Working capital at any time.
- Purchase of land.
- Buildings acquisition.
- Equipment costs.
- Rolling stock expenses.
- Incorporation fees.
- Marketing expenses.
- Development costs for new products.
- Acquisition of software technologies and patents.
grant_single_labels|register
- Step 1: Assess Eligibility
- Ensure your business fits into one of the target categories: commerce, services, manufacturing, social economy, or agriculture.
- Check that your project type (start-up, growth, etc.) is eligible for funding.
- Step 2: Gather Required Documents
- Prepare a detailed business plan outlining your project vision, mission, and goals.
- Compile financial forecasts for the next three years to demonstrate potential viability and profitability.
- Collect any other pertinent documents that support your application.
- Step 3: Financial Preparation
- Organize a detailed budget that aligns with the eligible expenses.
- Check that requested funding does not exceed 50% of your eligible expenses and the maximum of $100,000.
- Step 4: Prepare for Submission
- Review all documents to ensure completeness and accuracy.
- Prepare any necessary application forms or cover letters as per fund guidelines.
- Step 5: Submit Application
- Submit your application package, including all required documents, to the FLS fund administrators.
- Include contact details and any specific submission instructions as required by the FLS (e.g., postal or electronic submission).
- Step 6: Confirmation
- Await confirmation of receipt of your application from the FLS.
- Inquire about the timeline for evaluation and decisions if not stated upon submission.
Apply to this program
Comprehensive Financial Support for Business Growth
The Fonds local de solidarité (FLS) provides financial aid to support the establishment, expansion, and consolidation of targeted businesses, fostering economic impact through carefully selected projects. It is a versatile funding option aimed at helping diverse sectors including commercial, service, manufacturing, social economy, and agricultural enterprises.
Detailed Insights into the Fonds local de solidarité Grant
The Fonds local de solidarité (FLS) is a dynamic financial tool tailored to support businesses at critical stages of their lifecycle, whether they are starting up, expanding, or undergoing structural changes. This grant is specifically designed to bolster sectors that are pivotal to economic growth and development in Canada, such as commercial businesses, service providers, manufacturing enterprises, social economy ventures, and agricultural projects. With the potential grant amount reaching up to $100,000, this financial support significantly empowers businesses to pursue impactful projects that might otherwise be beyond their reach.
A key aspect of the FLS grant is its focus on the sustainability and profitability of the projects it funds. By emphasizing these criteria, the grant ensures that supported projects not only achieve short-term success but also contribute to the long-term economic vitality of their respective sectors. The grant serves as a catalyst for businesses looking to innovate, enhance their operations, or recover from challenging financial situations.
The eligibility for the grant covers a range of pivotal activities: starting new businesses, facilitating entrepreneurial succession, acquiring existing businesses, improving and transforming business operations, fostering growth, providing temporary financing, and supporting business turnaround efforts. Such a broad potential application makes the FLS an attractive option for businesses striving for significant transformations. Each of these activities aligns with the FLS's goal of enhancing the economic landscape through strategic investment and support.
Furthermore, the grant terms offer a notable advantage with a preferential interest rate, enhanced by a risk premium ranging from 3% to 6%, and a flexible repayment period between 36 and 72 months. This level of flexibility in financial structuring enables businesses to tailor their repayment plans according to their cash flow projections and business models, ensuring manageable financial commitments.
Eligible expenses under the FLS grant span crucial business needs such as working capital, land procurement, building and equipment purchases, mobile equipment, incorporation fees, marketing costs, new product development expenses, and the acquisition of software technologies and patents. However, it explicitly excludes goodwill expenses and research and development activities, ensuring that funds are directed towards tangible business growth initiatives.
The application process is structured to ensure that only viable projects are funded. Applicants must provide a detailed business plan, three-year financial forecasts, and other relevant documents that substantiate their project's viability and potential impact. This rigorous documentation requirement ensures that the funding goes to projects that are well-strategized and likely to succeed.
Ultimately, the Fonds local de solidarité grant represents a substantial opportunity for enterprises looking to innovate, stabilize, or expand their operations within Canada's vibrant economic environment. By facilitating access to critical funds and offering favorable financial terms, the FLS plays a crucial role in equipping businesses with the necessary resources to achieve both immediate goals and long-term prosperity. This initiative not only aids individual businesses but also contributes to the broader aim of sustainable and inclusive economic development in Canada.
