MRC L'Érable — Local Solidarity Fund (LSF)
grant_single|update January 25, 2025
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|terms_and_conditions
This grant provides a combination of financial and technical assistance to support various phases of business development, focusing on ensuring sustainable growth and economic impact. The financing modalities are structured to accommodate diverse business projects across different sectors.
- Financial assistance of up to $100,000, with specific caps for part-time projects related to agricultural zone development capped at $50,000.
- Interest rates are set at the preferential rate increased by a risk premium ranging from 3% to 6%.
- Repayment periods range from 36 to 72 months.
- Application fee of 1% is applicable.
- Eligible expenditure includes working capital, land, buildings, equipment, vehicles, incorporation fees, marketing expenses, new product development costs, and acquisition of software and technology patents.
grant_single_labels|projects
The Local Solidarity Fund (LSF) offers technical and financial assistance for various business activities. Eligible projects encompass new business ventures, growth, and transformative initiatives.
- Startup of new businesses.
- Entrepreneurial succession planning.
- Business acquisition.
- Improvement and transformation of existing businesses.
- Growth and expansion initiatives.
- Temporary financing needs.
- Business recovery projects.
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|apply
1
Preparation of the application file
- Develop a detailed business plan reflecting the viability and profitability of your project.
- Prepare three-year financial projections.
- Gather other relevant documents demonstrating the economic impact of your project.
2
Compilation of eligible expenses
- List and compile all eligible expenses planned, such as land, building, equipment, and working capital.
- Include projected marketing expenses and new product development costs.
- Check that non-eligible expenses, such as goodwill and R&D, are not included.
3
Calculation of the required funding amount
- Assess the total amount of funds needed for the project.
- Ensure that the requested funding does not exceed 50% of the eligible expenses for part-time PDZA projects.
4
Submission of the request
- Check that all sections of the file are complete and accurate.
- Contact the FLS to find out the method of submitting the request, for example via an online portal or by mail.
- Submit the application with all necessary documents, ensuring that the filing fee of 1% is accounted for.