Local investment funds Support policy for businesses Support policy for growth-generating projects Economic diversification fund
Local investment funds
Local Investment Funds (Fonds locaux) are financial tools designed to accelerate projects undertaken by businesses in the region; as such, they have a proactive effect on these initiatives.
Local Funds foster the entrepreneurial spirit. They are development-oriented and support entrepreneurs in their projects in order to:
- create and maintain viable businesses
- finance the start-up and expansion of businesses
- finance the acquisition of businesses
- bolster job creation
- contribute to the economic growth of Trois-Rivières
Local Funds serve primarily as a cash injection for businesses. This type of funding generally aims to provide a business with the working capital it needs to successfully carry out its project.
The financial assistance provided by Local Funds therefore acts as essential leverage to help the business obtain funding from other sources, such as a conventional loan from a financial institution, subsidy, investment or other seed capital.
- Economic viability of the business
- Economic spinoffs related to job creation
- Knowledge and experience of the proponents
Investments made by Local Funds target the following project categories:
Please note that the projects may not be detrimental to other similar businesses already established in the Trois-Rivières region.
All of the recognized sectors (industrial, manufacturing and service) are eligible, with the exception of businesses of a religious, sexual, political or seasonal nature, retail businesses, food services or personal services. For reference purposes, the following notable services are ineligible: dating agencies, war games, tarot readers, numerology, personal fulfilment, pawn brokers, hair, beauty or tanning salons, licensed drinking establishments, etc.
In particular, businesses in the service industry must demonstrate an innovative approach that promotes their commercial activities beyond the City of Trois-Rivières.
The investment limit per project is $100,000 for FLS (Fonds locaux de solidarité) and $150,000 for FLI (Fonds locaux d’investissement).
Types of investments
Local Funds invest via term loans with or without guarantee. Some are equity type loans, either with royalties paid on the net income or on the increase in sales, while others are loans carrying an option to purchase participating shares. The investments are normally approved for a period of one to seven years. Interest is payable on a monthly basis. As a rule, the maximum repayment period is 10 years.
With the participation of :