MRC Lotbinière — FLS (Local Solidarity Fund)
Last Update: January 25, 2025
QC, Canada
Financial assistance for businesses in Lotbinière région
MRC Lotbinière — FLS (Local Solidarity Fund) at a glance
Eligible Funding
- Max. $100,000
Timeline
- Continuous Intakes
Financing Type
Loans and Capital investments
Eligible Industries
- All industries
Grant Providers
- MRC de Lotbinière
Status
Open
Overview of the MRC Lotbinière — FLS (Local Solidarity Fund) program
The Fonds locaux d’investissement (FLI, FLS, and Triple F) provide technical and financial assistance to businesses, with a focus on those beyond the pre-startup phase, offering up to $100,000 in funding. The program aims to support business development and growth, with funding eligibility based on adherence to the MRC de Lotbinière's Investment Policy criteria.
Financing terms and conditions
This fund provides financial assistance to businesses at various stages of development with flexible repayment terms and adjustable interest rates based on risk assessment.
- Financial assistance of up to $100,000 available.
- Repayment period ranges from 36 to 84 months.
- Interest rate comprises a base rate plus an additional rate according to a risk grid.
Eligible projects & activities
The Local Solidarity Fund (FLS) provides financial assistance to businesses that meet the eligibility requirements set by the Investment Policy of the MRC de Lotbinière. These projects are aimed at various stages of business growth, excluding pre-startup phases.
- Business expansion initiatives.
- Projects focusing on business stabilization and consolidation.
- Development activities aiming to enhance business operations.
Eligibility criteria of the MRC Lotbinière — FLS (Local Solidarity Fund) program
The eligibility criteria for accessing the financial aid through the Fonds locaux d’investissement are defined by the investment policy of the MRC de Lotbinière.
- The business must not be in the pre-start-up phase.
Who is eligible?
Organizations eligible to apply for the various financial assistance programs offered by the MRC de Lotbinière and its partners include established businesses (as pre-startup companies are not eligible), as well as young entrepreneurs aged 18 to 39 for specific programs like Futurpreneur Canada. Additionally, entrepreneurs and young entrepreneurs experiencing difficulty securing financing or in the early stages of business growth can apply for assistance from programs like Créavenir Desjardins and MicroEntreprendre Chaudière-Appalaches. Certain programs also focus on startups or businesses up to three years old, and those seeking crowdfunding through La Ruche Chaudière-Appalaches.
Who is not eligible
This grant has specific restrictions tied to the business development stage and geographical focus. Here are the types of companies or situations that are not eligible for this grant:
- Companies in the pre-startup phase.
Eligible expenses
The grant covers specific expenses that contribute to business development and growth.
- Business planning and consultation services to improve strategic development.
- Purchase of essential equipment and tools required for business operations.
- Marketing expenses to enhance business visibility and reach.
- Training and skill development programs for business staff.
- Legal and administrative costs necessary for business structuring.
Eligible geographic areas
The MRC Lotbinière — FLS grant is likely targeted towards companies located within the jurisdiction of the MRC de Lotbinière, as implied by the funding body. This localized approach supports regional economic development within specific municipal areas.
- Companies located within the MRC de Lotbinière region in Quebec, Canada.
How to apply to the MRC Lotbinière — FLS (Local Solidarity Fund) program
1
Contact the MRC of Lotbinière
- Call 418 926-3407 or 418 990-0175 for more information about the application process.
- Email info@mrclotbiniere.org to initiate contact and ask specific questions.
2
Preparation of documents
- Write a detailed business plan.
- Prepare financial projections for two years.
- Develop a document outlining the project's costs and the financing structure.
- Gather other relevant documents for the analysis of your file.
3
Submission of the request
- Check the eligibility criteria according to the Investment Policy of the MRC of Lotbinière and ensure that your business meets these criteria.
- Submit all required documents to the contact address provided by the MRC after initiating contact.
4
Confirmation of receipt
- Wait for a confirmation of receipt of your request from the MRC.
- Keep all emails and communications for future reference.
Additional information
Here are additional relevant details for these funding opportunities:
- Interest rates for the Fonds locaux d’investissement (FLS) vary according to a risk assessment grid.
- The repayment period for FLS loans can range from 36 to 84 months.
- Futurpreneur Canada's support focuses on young entrepreneurs primarily based on their personality traits rather than financial guarantees.
- MicroEntreprendre Chaudière-Appalaches specifically caters to entrepreneurs and self-employed individuals at various stages including pre-startup and growth.
- Créavenir Desjardins offers both credit lines and grants targeted at young entrepreneurs who face challenges in securing funding through traditional means.
- La Ruche provides a platform that assists entrepreneurs in accessing a diversified pool of funding resources.