MRC Vallée-de-la-Gatineau — Local Investment Fund (FLI) and Solidarity Fund (FLS)
QC, Canada
Program fosters economic development and employment growth in Québec
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|closingDateSeptember 11, 2023
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- MRC Vallée de la Gatineau
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) provide financial support to Quebec-based businesses and social economy enterprises to foster economic development, employment creation, or retention. The maximum funding amount for a single investment is $150,000 from FLI and $100,000 from FLS, supporting activities such as business startup, expansion, improvement, transformation, entrepreneurial succession, and temporary financing.
grant_single_labels|projects
The Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) grants are designed to support diverse entrepreneurial ventures in Québec, focusing on fostering business growth, succession, and expansion, while also emphasizing economic sustainability. Eligible projects cover a wide spectrum, including business start-ups, entrepreneurial succession, business acquisitions, improvements, transformations, and temporary financing needs.
- Start-ups: Supporting businesses in their initial phase from commercialization until achieving profitability.
- Entrepreneurial succession: Financing individuals or groups acquiring significant shares in established businesses for leadership transition.
- Business acquisition: Assisting companies in acquiring assets or shares of existing businesses.
- Business improvement and transformation: Investing in projects to increase productivity, implement digital transformation, and establish sustainable organizational practices.
- Business growth and expansion: Supporting existing businesses in expanding or commercializing new products or services.
- Temporary financing: Providing short-term loans (bridge loans) while awaiting confirmed income sources.
- Business recovery: Funding for businesses in temporary crisis with a strong management team and a recovery plan.
grant_single_labels|admissibility
Eligibility for the Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) is determined by specific criteria related to the company type and its operations.
- The company must be a legally constituted for-profit entity under the laws of Quebec or Canada, or a collective enterprise (cooperative or non-profit) as per the Loi sur l’économie sociale.
- The company must operate within the territory of the MRC and have its head office in Quebec.
- The company must be registered with the Quebec Enterprise Register (REQ).
- For the FLS, social economy enterprises must meet conditions outlined in Annex A, although FLI can invest alone if these are unmet.
grant_eligibility_criteria|who_can_apply
The Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) support various projects aimed at enhancing economic development within the Quebec territory, particularly focusing on establishing and supporting viable businesses. Eligible organizations must meet the following criteria:
- Legally constituted for-profit enterprises under Quebec or Canadian laws.
- Enterprises with their head office in Quebec, conducting business in the MRC territory.
- Inclusion of collective enterprises like cooperatives and non-profits engaged in merchant activities under the social economy sector.
- Adherence to specific sectoral priorities established by the MRC.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain companies and industries due to their status or main activity. The restrictions aim to ensure that funds are directed towards ethical and sustainable sectors that align with the fund's objectives.
- Companies listed in the Register of Enterprises Ineligible for Public Contracts (RENA) and their subcontractors.
- Applicants that have failed to meet obligations in prior financial aid agreements.
- State-owned enterprises, or those controlled by governmental bodies.
- Companies under protection from creditor arrangements or bankruptcy laws.
- Entities with a history of unethical behavior detrimental to government or public trust.
- Enterprises with non-compliance in environmental responsibility or poor labor practices.
- Industries involved in arms production and distribution.
- Businesses related to fossil fuel exploration and production, unless transitioning to low carbon economy.
- Gambling and gaming industries, such as casinos and betting shops.
- Industries involved in violent games or activities, including combat sports with live beings.
- Enterprises related to the sex industry or exploitation, including adult entertainment.
- Companies involved in real estate management and development, unless involved in improving living conditions through equipment and infrastructure projects.
- Businesses related to the sale and service of tobacco or drugs, with certain exceptions for cannabis and hemp that meet stringent criteria.
- Producers of recreational cannabis products and some non-approved medicinal cannabis products.
grant_eligibility_criteria|eligible_expenses
The FLI program supports various eligible expenses related to enterprise projects.
- Additional working capital required for the project's completion for a maximum of two years, based on justified and reasonable expenses.
- Capital expenditures directly linked to project realization, including the acquisition of technology, land, buildings, equipment, machinery, and rolling stock, as well as construction, expansion, renovation, land and premises development.
- Professional fees prior to the project's realization, such as feasibility analysis, external audits, or impact studies.
- Professional fees directly linked to project realization, including technology implementation, equipment and machinery acquisition, construction, renovation, and development of land and premises.
- Expenses related to the acquisition of company ownership titles or assets for entrepreneurial succession projects.
- Professional fees directly related to the transaction and acquisition of the company, as well as management transmission.
grant_eligibility_criteria|zone
This grant is available to companies located within a specific region to foster local economic development. It is focused on businesses operating on the territory of the MRC.
- Companies operating within the territory of the MRC (Local Regional County Municipality).
grant_single_labels|register
Here are the steps to submit an application for the Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS):
- Step 1: Gather Required Documents
- Complete the financial assistance application form, ensuring it is dated and signed.
- Prepare a detailed business plan and/or project description as required in the application.
- Provide a detailed breakdown of project expenses.
- Prepare the financial structure of the project and confirmation of other financial assistance or project financing.
- Include financial statements from the past three years.
- Include interim financial statements if last financial statements are older than six months or the business is less than a year old.
- Provide projected financial statements.
- Submit a declaration of compliance with language and equality in employment requirements or provide the relevant certificates if applicable.
- Gather any other documentation required by the MRC.
- Step 2: Submit Application
- Applications are to be submitted to the MRC for processing.
- Ensure all documentation and information are complete for continuous analysis.
- Verify adherence to the financial assistance norms and budgetary availability.
- Step 3: Await Review
- The MRC will assess the eligibility and analyze the applications received.
- Projects will be reviewed in accordance with funding norms and fair treatment between applicants.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The Fonds local d’investissement (FLI) and Fonds local de solidarité (FLS) have a mechanism for considering exceptions where one fund may invest more heavily if a project's risk is too large for the other.
- There is a common investment committee overseeing the application and management process of the funds, with potential exceptions requiring notification to Fonds locaux de solidarité FTQ, s.e.c.
- Financial interventions from the FLI can be structured as loans with various terms, including participation features such as royalties on net income or sales growth.
- Enterprises can repay loans before their due dates, subject to conditions specified in the loan agreement.
- There are strict measures and procedures for recouping investments if recipient obligations are not met, with shared recovery costs between FLI and FLS according to the investment proportion.
- The policy allows for moratoria on capital repayment in various project types, with specific conditions for each.
- There are stipulations for handling ethically questionable behaviors or situations potentially damaging to the fund's integrity, leading to suspension or refusal of financial assistance.
- The policy includes a comprehensive approach to accumulate governmental aid, ensuring that all contributions meet the percentage limits set by the funds.
- Any policy changes must be filed with the relevant bodies, including the MEIE and Fonds locaux de solidarité FTQ, s.e.c., aligning with the established regulatory frameworks for both FLI and FLS.
