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Local Investment Fund (FLI)
Ministère du Développement économique de l'Innovation et de l'Exportation - MDEIE
Last Verified:
2007-01-16
This document was prepared with the information on the ministère du Développement économique, de l'Innovation et de l'Exportation's Web site.
The Local Investment Fund (FLI) is a measure aimed at local development centres (CLD) to support businesses at the start-up or expansion stage.
Eligibility Criteria
General component
New or expanding businesses, including companies in the social economy whose purpose is consistent with the orientations of the CLD's investment policy.
Succession component
Any young entrepreneur aged 35 or under interested in acquiring a significant stake of at least 25% in an existing company in a territory covered by the National Rural Policy.
Eligible Activities
General component
- Capital expenses such as land, buildings, equipment, machinery, rolling stock, incorporation fees and any other similar expense, with the exception of goodwill.
- Acquisition of technologies, software or software applications, patents and any other similar expense, except R&D activities.
- Working capital needs pertaining strictly to the company’s first year of operation.
Succession component
- Expenses to acquire ownership of a company (voting shares or stock), as well as professional fees directly related to the acquisition transaction.
Summary
General component
The financial assistance (investments in the form of grants, moratorium on interest and principal, sponsorships, donations are excluded) is granted in the form of a loan, participatory loan, loan guarantee, surety, acquisition of bonds or other debt securities, or investment in share capital or assets, or other.
The CLD determines the amount of the loan. The combined financial assistance from the CLD, the Government of Quebec and the federal government shall not exceed 50% of the project cost. However, for business projects in the social economy, the assistance can cover up to 80% of eligible expenses.
Succession component
The financial assistance is offered in the form of an interest-free loan of up to $25 000 and may be combined with a principal repayment moratorium for the first year and the CLD determines the amount of the loan and shall not exceed $25 000. The loan may cover up to 80 % of eligible expenses. The total assistance from the governments of Quebec and Canada and the CLD shall not exceed 80 % of eligible expenses.
For more information, consult the Web site at http://www.mdeie.gouv.qc.ca/page/web/portail/en/nav/programmes.html?&page=details.jsp&iddoc=43612 or contact your CLD.