Local Investment Funds (Fonds locaux d’investissement)
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Eligibility & Details
What this program funds and who can apply
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.
Quick Assessment
Funding Details
- Amount
- Up to $250,000
- Type
- Loan
- Level
- Municipal
- Deadline
- At all times — continuous intake
Program Scorecard
Competition, effort, and approval at a glance
Everything you need to secure Local Investment Funds (Fonds locaux d’inv...
Not a marketing summary. The actual checklist, intel, and stack strategy reviewers look for.
- 8-document checklist with what each reviewer is actually checking
- 6-step application timeline with prep hours per step
- Insider tip from program officers on what separates winners
- Success profile + evaluation criteria — exactly what lenders look for
How to qualify
Insider tips, common pitfalls, and what successful applicants look like
Insider TipAsk about deferral options: principal and interest may be deferred up to 24 months for growth projects or 36 months for acquisitions and transfers.
Evaluation Criteria
An independent investment committee evaluates each project. The fund's stated objective sets the test: to invest in Laval-based businesses with economic impact, contribute to their development, and create, maintain and preserve jobs. Beyond the three eligibility gates (for-profit SME, cooperative or non-profit; fewer than 250 employees; located on Laval territory), the committee is assessing a credit decision — repayment capacity, the quality of the business plan, and the structure of any collateral or guarantee, since loans may be made with or without either. Projects in retail, personal services and construction carry an additional explicit burden: they must demonstrate added value. Laval Économique points applicants to its French-language investment policy for the fund's specific features.
Application Playbook
Step-by-step process, required documents, and expenses
Application Steps
Required Documents 8
Eligible Expenses 6
- Sufficient working capital required to carry out the project
- Capital expenditures such as the acquisition of technology, land, buildings, equipment, machinery and rolling stock
- Construction, expansion, renovation or development of land and premises
- Professional fees directly related to the implementation of the project
- For succession projects: expenses related to the acquisition of the company's securities and assets
- For succession projects: professional fees directly related to the transaction
Ineligible Expenses 2
- Costs of activities that are the main business of an excluded sector (real estate management and development, food service, controversial weapons, gambling and combat sports, sexual exploitation, tobacco or drug-related activity)
- Laval Économique states that eligible expenses vary according to the client's needs and does not publish a further exclusion list — confirm specific costs with the investment advisor before committing
Deadline Notes
No deadline. Laval Économique's own program listing publishes the intake as 'At all times', and applications are assessed by an independent investment committee as they arrive rather than in competitive rounds.
Ineligible Organizations
- Companies whose main business activities are real estate management and development
- Food service businesses
- Producers or distributors of controversial weapons
- Operators of violent games, games of chance or gambling, and combat sports
- Businesses involved in sexual exploitation
- Businesses producing, selling or providing services related to tobacco or drug use
- Businesses with 250 or more employees
- Businesses not located on Laval territory
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Funding Stack Strategy
Compatible programs, clawback risk, and combined funding potential
Stacking partner data not yet available.
Clawback Risk
Medium RiskThis is repayable debt, not a grant — the entire principal must be repaid on the agreed schedule, so the standing exposure is default rather than clawback. Loans may be made with or without collateral and with or without a guarantor; where a guarantor is taken, that person is personally exposed to the outstanding balance. A moratorium on principal with an interest-free period (up to 24 months, or 36 for succession) defers payments but does not reduce the debt. Confirm security, guarantee and default terms in the financing agreement before signing.
How Local Investment Funds (Fonds locaux d’inv... Compares
Side-by-side with similar programs
| Program | Amount | Difficulty | Payment | Deadline |
|---|---|---|---|---|
| Local Investment Funds (Fonds locaux ... | Up to $250,000 | Moderate | Loan | At all times —... |
| Quebec R&D Tax Credit (CRIC — Researc... | 20-30% tax credit (CRIC) | Hard | Tax Credit Offset | Ongoing |
| Investissement Québec — Project Finan... | Varies | Hard | Mixed (Advance + Reimb.) | Ongoing |
| Canada Economic Development for Quebe... | Varies | Moderate | Reimbursement | Ongoing |
| PME MTL - Fonds Jeunes Entreprises | Up to $25,000 | Moderate | Reimbursement | Ongoing |
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Frequently Asked Questions
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