All of the programs and services of the ministère du Développement économique, de l'Innovation et de l'Exportation are grouped under the Department tab.

They are also broken down into four themes―Businesses, Regional development, Exports, Science and technology—and accessible under the corresponding tabs.

Local Investment Fund

A measure based on partnership

The local investment fund is a measure managed by local development centres (CLDs) that is aimed at supporting businesses in the start-up or expansion phase.

Target clientele

General component

Any business in the start-up or expansion phase, including social economy businesses, whose goals conform to the CLD's investment policy.

Young Entrepreneur component

Any entrepreneur aged 35 or less who wishes to acquire at least 25% of the value of an existing business located within the area covered by the Québec policy on rurality. The policy states that jobs can be protected if aging business owners receive assistance in transferring ownership and preparing others to take over their companies. The component is intended to foster the next generation of entrepreneurs in existing businesses. To be effective, this component must be integrated into the CLD's investment policy.

Allowable expenses

General component

• Capital expenses such as land, buildings, equipment, machinery, rolling stock, incorporation fees and any other expenses of a similar nature, except goodwill expenses.
• The purchase of technologies, software programs and packages, patents and any other expenses of a similar nature, excluding research and development activities.
• Working capital requirements related strictly to the operations of the business, calculated for the first year of operation.

Young Entrepreneur component

• The costs of acquiring titles of ownership of the business in question (voting shares or stocks), as well as the professional fees directly related to the acquisition transaction.

Type of assistance granted

General component

Financial assistance* is granted in the form of loans, participatory loans, loan guarantees, security, the acquisition of bonds or other debt securities, interests in share capital, capital stock or any other form.

* Excepting investments in the form of subsidies, interest holidays, capital holidays, sponsorships, gifts and other expenses of a similar nature, in accordance with the CLD's investment policy.

Young Entrepreneur component

The assistance is granted in the form of an interest-free loan not exceeding $25,000, with no capital repayment during the first year.

Calculation of the amount of financial assistance

General component

The amount of financial assistance is determined by the CLD.

The combined financial assistance from the CLD and the Québec and federal governments may not exceed 50% of the costs of the project. However, in the case of projects undertaken by social economy businesses, the assistance may cover up to 80% of allowable expenses.

Young Entrepreneur component

The amount of financial assistance is determined by the CLD and may not exceed $25,000.

The loan may cover up to 80% of allowable expenses. Total financial assistance from the Québec and federal governments and the CLD may not exceed 80% of allowable expenses.

Restrictions on financial assistance awarded

General component

• The financial assistance may not be used to cover an organization's operating expenses, service its debt, repay future loans or finance a project that has already been implemented.
• It may not be used to help cover expenses related to the implementation of a project carried out before the date on which the official application for assistance is received by the CLD.

Young Entrepreneur component

• Any transaction involving titles of ownership of the business concluded before the date on which the official application for assistance is received by the CLD is not eligible.
• Financial assistance is conditional on the young entrepreneur's working full time in the business and remaining the owner of at least 25% of the value of the business for the period of the loan. Should the entrepreneur fail to meet this obligation, the portion of the loan not repaid must be remitted immediately to the CLD.

For more information

Please contact the CLDs in your region.

Last update: December 20, 2007