Ville de La Tuque — Local investment fund
QC, Canada
Local Investment Funds support local entrepreneurship in Quebec
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|closingDateDecember 31, 2025
- grant_single|grantStatusClosed
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Ville de La Tuque
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grant_card_status|open
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The Fonds locaux d’investissement aims to stimulate local entrepreneurship by facilitating access to capital for business start-ups, improvements, expansions, and entrepreneurial succession, offering a maximum funding amount of $150,000. Eligible activities include startup commercialization, productivity improvements, digital transformation, sustainable organizational practices, business expansions, and entrepreneurial acquisitions with 25% or more of a company.
grant_single_labels|projects
This grant aims to promote local entrepreneurship by providing financial support to various types of business projects. Eligible projects are centered around starting, improving, expanding, or transferring business leadership.
- Startup projects for businesses in operation for less than two years and entering commercialization phases.
- Improvement and transformation projects for businesses operational in Quebec for at least one year, focusing on productivity improvement, digital transformation acceleration, and implementation of sustainable organizational practices.
- Growth and expansion projects for businesses operational in Quebec for at least two years to support their expansion efforts.
- Entrepreneurial succession projects aimed at acquiring a significant ownership stake or assets of an existing business with the intent to take over and ensure the business's continuity.
grant_single_labels|admissibility
Eligibility for this grant requires that businesses meet specific criteria related to their legal status and operational history.
- The business must be a legally constituted for-profit entity under the laws of Québec or Canada.
- The business can be a collective enterprise such as a cooperative or a non-profit organization with commercial activities.
- The organization must be legally established in Québec for carrying out its operations, regardless of its constituting law.
- The applicants and their subcontractors must not be listed on the Register of enterprises ineligible for public contracts (RENA).
- The business must have fulfilled all obligations related to a previous financial assistance received from the Government of Québec or the regional county municipality (MRC) for at least two years.
- The business must not be a state-owned enterprise or a company controlled directly or indirectly by a municipal, provincial, or federal government, a municipal entity, or an enterprise predominantly owned by a state corporation.
- The business must not be bankrupt or insolvent.
- The business must uphold ethical standards and not offer products or services that could undermine the integrity of the Government of Québec.
- The business must be eligible according to the investment policy of the MRC.
grant_eligibility_criteria|who_can_apply
Eligible applicants include legally constituted for-profit businesses and collective enterprises (cooperatives and NPOs with commercial activities) that operate in Quebec under the laws of either Quebec or Canada. All applicants must not be on the Register of companies ineligible for public contracts (RENA), must have no unresolved issues with previous financial aid from the Quebec government or regional county municipality (MRC), should not be state-controlled enterprises, must not be bankrupt, insolvent, or unethical, and must align with MRC investment policies.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain companies and industries due to their status or main activity. The restrictions ensure that funds are not misallocated to ineligible entities.
- Companies registered in the public contract non-eligible business registry (RENA).
- State-owned enterprises or those controlled directly or indirectly by the government (municipal, provincial, or federal).
- Businesses in bankruptcy or insolvency.
- Entities with ethical violations or those offering products/services compromising government integrity.
grant_eligibility_criteria|eligible_expenses
The grant covers eligible expenses related to starting, improving, expanding, and business succession projects.
- Additional working capital needs beyond current operating expenses necessary for project execution, for up to two years.
- Capital expenditures directly related to the project, such as technology acquisition, land, building, equipment, machinery, and mobile equipment acquisition, as well as construction, expansion, renovation, and landscaping.
- Fees related to preliminary project activities, such as feasibility analysis, external audit, or impact study.
- Fees directly related to project implementation, such as technology, equipment, and machinery setup, as well as acquisition, construction, renovation, and landscaping.
- Acquisition expenses of ownership interests in the target business (voting shares or units) and assets of the targeted business for entrepreneurial succession projects.
- Fees directly related to the transaction and acquisition of the business, as well as management succession in entrepreneurial succession projects.
grant_eligibility_criteria|zone
This grant is available in specific regions of Quebec as determined by the local investment funds managed by regional county municipalities (MRC) or development agencies. The eligible areas cover various administrative regions ensuring localized economic development.
- Abitibi-Témiscamingue
- Bas-Saint-Laurent
- Capitale-Nationale
- Centre-du-Québec
- Chaudière-Appalaches
- Côte-Nord
- Estrie
- Gaspésie–Îles-de-la-Madeleine
- Lanaudière
- Laurentides
- Laval
- Mauricie
- Montérégie
- Nord-du-Québec
- Outaouais
- Saguenay–Lac-Saint-Jean
grant_single_labels|register
Here are the steps to submit an application for the Fonds locaux d’investissement:
- Step 1: Determine Eligibility
- Ensure your business or organization meets all the eligibility criteria, including legal incorporation in Quebec and adherence to previous financial aid obligations, if applicable.
- Step 2: Identify Relevant MRC
- Locate your municipality or MRC (Municipal Regional County) responsible for managing the Fonds locaux d’investissement in your area.
- Contact the MRC or local economic development organization to obtain application guidelines specific to their policies.
- Step 3: Prepare Application
- Compile all necessary documents, including detailed project plans, financial statements, and any previous financial aid receipts.
- Outline your project's objectives, expected outcomes, and accurately detail anticipated costs and funding requirements.
- Step 4: Submit Application
- Follow the submission guidelines provided by your local MRC or economic development organization.
- Ensure all documents and application forms are completed thoroughly and submitted before any relevant deadlines.
- Step 5: Await Evaluation
- The MRC will review your application for eligibility, completeness, and project viability.
- Await correspondence from the MRC regarding the status of your application.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The financial assistance is in the form of loans, participatory loans, loan guarantees, bonding, acquisition of bonds or other debt securities, equity investments, social capital, or other forms, excluding subsidies, sponsorships, donations, and similar expenses.
- The maximum aid rate is 50% of eligible expenses for for-profit businesses and 80% for social economy enterprises.
- The total of government assistance cannot exceed 50% of the total project cost, except for social economy enterprise projects, where financial assistance can reach 80%.
- The maximum amount of aid is $150,000 for a twelve-month period. Higher amounts may be granted to certain projects at the discretion of the Government of Quebec.
- A minimum contribution (equity) from the promoters or the company equivalent to 15% of the total project cost is required.
- The terms are valid until December 31, 2025.
Apply to this program
Enabling Local Entrepreneurship Through Investment Funds
The local investment funds aim to stimulate entrepreneurship by facilitating access to capital and expediting the completion of various business projects including start-ups, improvements, expansions, and entrepreneurial succession. This grant provides tailored financial tools to aid businesses in transitioning, transforming, and growing sustainably within the local economy.
Detailed Insights Into Local Investment Fund Opportunities and Impacts
The local investment funds are designed as an essential catalyst for entrepreneurship, focusing on driving economic growth at a local level by offering financial assistance in the form of loans, participatory loans, and guarantees among other instruments. Targeted primarily at small to medium enterprises (SMEs) and social economy enterprises, which form the backbone of the local economic landscape, these funds seek to unblock potential by ensuring that businesses have the necessary capital to embark on or expand their ventures.
The availability of funds for projects such as business start-ups or expansions allows new and existing businesses to overcome the financial barriers typically faced in the initial or growth phases. By offering funding support for qualified expenditure—such as working capital needs, capital expenditure directly tied to project execution, and professional fees associated with project planning and implementation—the funds provide a critical financial safety net for businesses striving towards innovation, digital transformation, or sustainable operational practices.
Entrepreneurs aiming to acquire or transition an existing business are also eligible for these funds, provided that their projects involve a significant element of business continuity and succession. This aspect of the funding can be particularly advantageous for entrepreneurs seeking to maintain local business vitality through ownership transitions, thereby safeguarding jobs and sustaining community economic infrastructure.
Another significant advantage of these funds is their ability to provide financing without the need for grant allocations, thereby encouraging financial responsibility and fostering an entrepreneurial mindset focused on sustainable growth rather than dependency on subsidies. With investments capped at $150,000 for a twelve-month period—extendable under specific circumstances—enterprises can strategize their growth with the assurance that a portion of necessary resources is accessible, albeit with a requirement for a mandatory financial contribution equating to a minimum of 15% of the project’s total cost from the promoters or businesses themselves.
Moreover, the funds are deployed through local Municipal Regional Counties (MRCs), ensuring that investment stays within the community and aligns closely with local economic development policies. This proximity to stakeholders and regional integration enhances the impact of the funding by fostering a more profound understanding of local needs and propelling tailored economic solutions that can lead to greater regional development outcomes.
As an influencer of local economic health, these funds play a strategic role in energizing the business ecosystem, providing not only financial resources but also strengthening entrepreneurial networks and collaboration opportunities. Through strategic resource allocation, supported projects can generate new jobs, stimulate local industries, and drive forward innovative solutions that resonate with overarching regional development goals.
In essence, the local investment funds stand as a beacon for fostering robust economic growth, supporting entrepreneurial ambition and ensuring the sustainable development of local businesses within Quebec’s unique economic framework. This is achieved while maintaining transparency and alignment with the provincial policies up until their current validity period, lending confidence to participating entities in their pursuit of economic and business objectives.
