Create and support viable enterprises;
Finance starting or expanding enterprises;
Support work development
Contribute to the Verdun area's economic development
Investment Pool:
The FLI targets below $5,000 investments as to promote business emergence and the creation or maintenance of viable employment. However, the Board of Directors may receive, for special dispensation and approval, requests exceeding the $5,000 maximum allowed, when they present a definite interest.
Activity Sectors:
Priority is given to the prime tertiary sector; manufacturing; those absent or scarce in the Verdun area; horticulture; call centres; tourism and retailing, particularly in these market niches : men and women top of the line clothing; average and top of the line footwear; fine cuisine; recreational, touristic and cultural activities; and house renovating projects. Projects must meet with " le PLACÉE " philosophy and its development main lines.
Eligible Businesses:
The enterprise must originate in Québec, i.e. that its main activity be rooted in the City of Verdun region, and that its Head Office be located in the Province of Québec, be it :
The enterprise is a profit making corporate entity generating economic activities;
It is mandatory that the promoters front a capital investment (10% to 20%) for starting projects, and it is expected in other situations;
Present a formal FLI financing request, ranging from $1,000 to $5,000. However, the Board of Directors may receive, for special dispensation and approval, requests exceeding the $5,000 maximum allowed, when they present a definite interest.
The enterprise has the duty to submit financial reports, and business or management plans for analysis when presenting a (FLI) Financing Request.
Admissible Expenses:
Capital expenditure such as buying land, building, equipment, machinery, rolling stock and incorporation fees or other similar expenses, except patronage.
Technological purchases, software or application programs, patents and other similar expenses, with the exclusion of research and development activities.
The required working capital based only on the first year's operations forecast, following the project.
Project related expenses incurred before the date at which the CLD receives a formal assistance application, are not admissable.
Duration:
Investments are generally authorized for a one to five-year period.
FONDS D'ÉCONOMIE SOCIAL (FÉS)
The term " social economic " comprises two concepts:
Social:
This notion refers to socially profitable, instead of purely economic activities. This profitability can be measured through its contribution to democratic development, by supporting an active population, by promoting values and initiatives towards the individual and community empowerment. Therefore, social profitability contributes to the betterment of the people's quality of life and welfare notably, by providing additional services.
Economy:
This concept pertains to the actual production of goods and services, using the enterprise as an organisational tool and contributing to a clear increase of the collective wealth.
Both concepts are subjected to the following operative rules:
The social economic organization's end is to supply goods and services to its members;
The organization has a non-governmental, self-management status;
The organization's general rules and by-laws stipulate a democratic decision process involving the employees and the clients;
The organization advocates the primacy of individuals and employment over assets when distributing surplus and earnings;
The organization's activities are based on the principles of participation, empowerment and responsibility of the people, as individuals and as a community.
Starting out and established organizations must meet the following " Le PLACÉE "
(Plan Local d'Action Concertée pour l'Emploi et
l'Économie) criteria, in order to be recognized as eligible to be financed through the social economic fund:
1. A cooperative or non-profit corporation
2. A financially viable organization
3. An organization able to develop durable employment
4. An organization susceptible to produce self-generated revenues
5. Have its Head Office in Verdun
Projects must have the following characteristics:
1. Persue social ends
2. Respond to the community's social economic needs
3. Adhere to the goals prescribed by the CLD Verdun, in its " Le PLACÉE " measure, or demonstrate the project's importance for the Verdun community.
4. Create employment where the pay and working conditions are similar to those found in equivalent sectors.
5. Aim at economic profitability
Admissible Expenses
The only admissible expenses, for the 2000-2001 fiscal year, are : equipment, machinery, new technology tools and rolling stock.
Financial Aid Assessment
The combined financial aid provided by the Provincial and Federal Governments and the CLD will not exceed 80% of the total starting or expansion costs. As of November 1st 2000 until the end of the 2000-2001 fiscal year, the granted FES ceiling amount is set at 25,000 $.
Childcare Centres may receive a maximum of 10,000 $.
Financing Nature
The consented financial aid is, by nature, a non-recurrent subsidy.
FONDS JEUNES PROMOTEURS
Mission
Le Centre local de développement CLD de Verdun manages a young promoters fund (FJP)
reserved to help young entrepreneurs create their first enterprise. This fund
helps establish lucrative enterprises in the Verdun region, by providing
financial and technical support.
Eligible Candidates:
1. Be a Canadian Citizen or a landed immigrant and be a permanent Quebec
resident; 2. Be at least 18 years old and 35, at the most; 3. Have experience or
training related to the project; 4. Make the commitment to work full time for
the enterprise; 5. Have a Verdun business address and hold a commercial lease or
business occupation license; 6. Hold 50% of the business shares, if one or more
of the associates are over 35 years old.
General Admissibility Conditions
1- Each financial contribution must be approved by the CLD Verdun. The promoter
or group of promoters must fill an application form (See appendix I) and send it
to the CLD Verdun; 2- Priority is given to the prime tertiary sector;
manufacturing; those absent or scarce in the Verdun area; horticulture; call
centres; tourism and retailing, particularly in these market niches : men and
women top of the line clothing; average and top of the line footwear; fine
cuisine and the sectors found in the CLD's "Le P.L.A.C.É.E.". Primary,
recreational, tourist and recycling activity sectors are handled in second
place. 3- The request's official date takes effect on the day and date the
application form is received at the CLD offices. The business plan must follow
within the subsequent six months. 4- The entrepreneur must demonstrate, to the
CLD's satisfaction, that a financial assistance is essential to realise the
project;
Admissible expenses
The admissible expenses pertain to capital expenditure such as buying land, building, equipment, machinery, rolling stock and incorporation fees or other similar expenses, except patronage.
Technological purchases, software or application programs, patents and other similar expenses, with the exclusion of research and development activities.
The required working capital based only on the first year's operations forecast, following the project.
Amount:
$5,000 is the maximum amount allowed per project promoter.
