Municipalité des Îles-de-la-Madeleine — Local Investment Fund (FLI) and Local Solidarity Fund (FLS)

• Completed, dated, and signed application form
• Business plan or detailed project description
• Detailed breakdown of project expenses
• Financial plan and confirmation of other funding sources
• Financial statements for the last three years

Who is eligible?

• For-profit businesses
• Cooperatives
• Non-profit organizations with market activities
• Social economy enterprises

Who is not eligible

• Publicly owned or government-controlled companies
• Businesses under bankruptcy or insolvency protection
• Companies listed in the public contracts ineligibility register
• Businesses in weapons, fossil fuels, gambling, violent games, sex-related activities, tobacco or drugs sectors
• New retail or restaurant start-ups

Eligible expenses

• Working capital needed for the project
• Land, building, equipment, machinery, and vehicle purchases
• Construction, expansion, renovation, and site fit-out
• Professional fees for feasibility, audit, impact study, and project implementation
• Business acquisition and succession-related purchase costs

Ineligible Costs and Activities

• Costs incurred before the application is submitted
• Debt service and repayment of existing or upcoming loans
• Research and development expenses
• Normal operating expenses
• Quebec sales taxes

Eligible geographic areas

• Community maritime of Les Îles-de-la-Madeleine
• Quebec

• Economic viability and repayment capacity
• Promoters’ knowledge and experience
• Environmental and social impact
• Openness toward workers and labour relations
• Participation of other financial partners

• Step 1: Prepare the file
  • Complete the application form.
  • Prepare the business plan or detailed project description.
  • Gather financial statements and supporting financial information.
• Step 2: Submit the application
  • Send the complete file to the Community maritime of Les Îles-de-la-Madeleine.
  • Include all required documents requested for the review.
• Step 3: Review and decision
  • The file is reviewed once the required information is received.
  • The applicant is informed of the decision after analysis.

• Applications are reviewed by the Community maritime of Les Îles-de-la-Madeleine.
• Files are analyzed continuously once all required information and documents are received.
• Eligibility, analysis, and decision are handled by the investment committee process.
• Decisions are made in line with available budgets and program rules.
• Approved agreements are signed by the General Management and the beneficiary.

• No application or opening fees are charged for submitted files.
• The Community maritime may request a credit check or collateral, if needed.
• Applications are reviewed continuously once all required information is provided.
• Funding decisions are made by the investment committee and agreements are signed by the General Management and the beneficiary.