Fonds Local D’investissement (FLI): Composante Fonds de démarrage (Local Investment Fund: Start-Up Fund Component)

By mmuise
Description:

FLI provides financial assistance to new businesses to create and maintain jobs on the MRC de La Haute-Yamaska territory. This funding is for companies that have been in business for less than a year or not have had significant income ($12,000 or less), established in Haute-Yamaska.


Comments on Funding:

Funding takes the form of a loan of up $5,000 per company.
The maximum total value of FLI financial assistance granted to the same beneficiary at any time within a twelve-month period cannot exceed $150,000.
The repayment period of the loan (principal and interest) will be determined based on the project, the amount borrowed, and the company's ability to pay, but cannot exceed five (5) years. The following terms will apply:
- Loan of less than $10,000: a maximum of three (3) years;
- Loan from $10,001 to $50,000: a maximum of five (5) years.

Deadline: Continuous Intake
Eligibility:

Applicants must:

  • be new businesses creating and maintaining jobs on the MRC de La Haute-Yamaska territory;
  • be companies that have been in business for less than a year or not have had significant income ($12,000 or less), established in Haute-Yamaska.
  • be companies or promoters demonstrating that:
    a) A credit rating of at least 685, otherwise further justification and analysis will be required;
    b) The economic viability of the project;
    c) Possession of relevant knowledge and experience for the project;
    d) The ability to dedicate full time to the project.
Application Steps:

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Documentation Needed:

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Other Things to Note:

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About the author
mmuise