MRC Rimouski-Neigette — Local Investment Fund
Last Update: June 2, 2025
Rimouski, QC
FLI/FLS funds support Quebec economic impact projects
MRC Rimouski-Neigette — Local Investment Fund at a glance
Eligible Funding
- From 10,000 to 150,000
- Up to 50% of project cost
Timeline
- Open Date : June 20, 2023
- Closing date : July 5, 2023
Financing Type
Loans and Capital investments
Eligible Industries
- Manufacturing
- Retail trade
- Information and cultural industries
- Professional, scientific and technical services
- Health care and social assistance
- Arts, entertainment and recreation
- Accommodation and food services
- Other services (except public administration)
- Public administration
Grant Providers
- MRC Rimouski-Neigette
Status
Open
Overview of the MRC Rimouski-Neigette — Local Investment Fund program
The MRC Rimouski-Neigette Local Investment Fund (FLI/FLS) supports the start-up, expansion, and succession of businesses in the Rimouski-Neigette region, offering funding of up to $150,000 per business through loans covering a range of eligible projects, including commercialization, productivity improvement, and digital transformation. The program targets for-profit enterprises, cooperatives, and social economy organizations to stimulate economic development and job creation.
Financing terms and conditions
- The minimum amount for investments from the local funds is greater than $10,000.
- The maximum cumulative investment from the Fonds local de solidarité (FLS) in a single company or group of companies is $100,000.
- The Fonds local d’investissement (FLI) may invest up to 50% of eligible project expenses for most companies, and up to 80% for social economy enterprises.
- The maximum amount the FLI can invest for a single beneficiary is $150,000 within any twelve (12) month period, with a total outstanding limit of $300,000 per company.
- The total amount of government financial assistance (when the FLI is involved) must not exceed 50% of the total project cost, or 80% for social economy enterprises.
Eligible projects & activities
- Business start-up and early-stage commercialization projects.
- Ownership transfer and business succession initiatives.
- Acquisition of existing businesses or their assets.
- Projects focused on improving productivity, digital transformation, or implementing sustainable organizational practices.
- Business growth and expansion, including the launch of new products, services, export projects, and branch establishment.
Eligibility criteria of the MRC Rimouski-Neigette — Local Investment Fund program
- The business must be legally constituted under Quebec or Canadian law and can be a for-profit company or a collective enterprise (cooperative or eligible non-profit organization) with commercial activities.
- The business must operate within the territory of the MRC de Rimouski-Neigette and have its head office in Quebec.
- The business must be registered with the Quebec Enterprise Register (REQ).
- Projects must relate to the start-up, acquisition, succession, improvement, transformation, growth, or expansion of a company.
- In the case of social economy enterprises, specific requirements must be met regarding management, revenue, employment, and economic activity (such as being beyond the start-up phase, generating mainly autonomous revenues, and holding adequate net assets).
Who is eligible?
- Legally incorporated for-profit companies under Quebec or Canadian law
- Collective enterprises such as cooperatives and non-profit organizations (NPOs) with commercial activities, recognized under the Social Economy Act
- Small and medium-sized businesses (SMEs) from all sectors, except those explicitly excluded
Who is not eligible
- Companies listed in the Register of enterprises ineligible for public contracts (RENA), including their subcontractors.
- Government-owned corporations, government-controlled companies, or businesses majority-owned by a public corporation.
- Companies under bankruptcy protection, restructuring, or insolvency proceedings.
- Businesses involved in sectors such as arms production or distribution, fossil fuel extraction/refining (except low-carbon transition activities), gambling and games of chance, violent gaming or combat sports with living creatures, and the sex industry.
- Businesses with a history of ethical misconduct, non-compliance with environmental laws, or violations of labor or human rights standards.
Eligible expenses
- Additional working capital required for the execution of the project, up to a maximum of two years.
- Capital expenditures directly linked to the project, including acquisition of technology, land, buildings, equipment, machinery, and vehicles.
- Construction, expansion, renovation, and layout costs for land and premises directly related to the project.
- Professional fees necessary prior to the project’s implementation, such as feasibility analysis, external audits, or impact studies.
- Professional fees directly related to the execution of the project, such as implementation of technology, equipment, and machinery, or for acquisition, construction, renovation, and layout of property and premises.
- For entrepreneurial succession projects: expenses for acquiring business ownership titles (voting shares or equity) and business assets, as well as professional fees directly related to the business transaction and succession process.
Eligible geographic areas
- Companies operating within the territory of the MRC (Municipalité Régionale de Comté) de Rimouski-Neigette.
- Businesses with their head office located in Quebec.
Eligibility criteria of the MRC Rimouski-Neigette — Local Investment Fund program
- Economic viability and long-term profitability of the business.
- Knowledge and experience of the project leaders, including relevant skills and management abilities.
- Environmental and societal benefits resulting from the project, with emphasis on sustainable business practices.
- Level of openness in labor relations and treatment of employees.
- Participation of other financial partners and promoters’ equity contribution to the project.
How to apply to the MRC Rimouski-Neigette — Local Investment Fund program
1
Preparation of the request
- Complete the financial aid application form.
- Draft the business plan and/or provide a detailed description of the project.
- Prepare a detailed breakdown of project-related expenses.
- Establish the financial setup of the project and obtain confirmation of other required financial aids or funding.
- Gather the financial statements from the last three years as well as interim financial statements if necessary.
- Prepare the projected financial statements.
- Draft and include a compliance statement regarding Francization or attach the Francization certificate if applicable.
- Provide a compliance statement regarding employment equality or attach the Employment Equity Program if applicable.
- Gather any other documents required by the SOPER.
2
Submission of the request
Send the complete documentation to the SOPER for evaluation.
Additional information
- The decision-making process and management of the funds are overseen by a common investment committee (CIC), which may request exceptions to the investment framework under certain conditions.
- The policy is subject to change by the managing organization but must remain within the authorized frameworks established by external partners such as the MEIE and Fonds locaux de solidarité FTQ, s.e.c.
- If changes to the investment policy compromise joint investment principles, CIC input is required before implementation.
- The policy explicitly states that in no case can an exception be granted for a business with a negative net worth after the project.