Local Investment Funds (Fonds locaux d’investissement)

Program Description

Laval Économique's local investment funds (FLI-FLS) lend up to $250,000 to for-profit SMEs, cooperatives and non-profit social-economy enterprises with fewer than 250 employees located on Laval territory. Financing takes the form of a traditional term loan or an equity loan, with or without collateral or a guarantor, typically over a 7-year term extendable to 10, and covers business start-up, improvement and transformation, growth and expansion, or succession. This is Laval's own local fund — the Fonds locaux d'investissement operate through each Quebec MRC and terms differ by region.

Eligibility Requirements

• Be a for-profit SME, cooperative or non-profit (social economy enterprises).
• Have fewer than 250 employees.
• Be located on the Laval territory, and conduct business activities within Laval.
• Companies whose main business activities involve real estate management and development are excluded.
• Companies whose main business activities involve food service are excluded.
• Companies whose main business activities involve the production or distribution of controversial weapons are excluded.
• Companies whose main business activities involve the operation of violent games, games of chance or gambling, or combat sports, are excluded.
• Companies whose main business activities involve sexual exploitation are excluded.
• Companies whose main business activities involve the production, sale or services related to tobacco or drug use are excluded.
• While not excluded, projects in the retail, personal services and construction sectors must demonstrate added value.
• Financing supports business start-up, improvement and transformation, growth and expansion, or succession — the fund's stated objective is to invest in Laval-based businesses with economic impact and to create, maintain and preserve jobs.
• The fund operates in three streams: a general stream for any start-up or expanding business; a small-business stream (FLI-PE) for businesses employing a maximum of ten people and in operation for less than five years; and a succession stream for an entrepreneur or group of entrepreneurs acquiring at least 25% of the value of an existing business or its assets. Stream-specific thresholds apply only within their own stream.