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Centre Local de Développement Verdun

Local Investment Fund (LIF)

Premise:

The LIF is a financial tool designed to accelerate the creation of entrepreneurial projects in Verdun, promote business initiative and support entrepreneurs in their endeavours in order to:

  • create and support viable enterprises;
  • support the establishment or expansion of businesses;
  • stimulate employment; and
  • help attract investment and stimulate economic development in Verdun.

Investment target:

The LIF can support projects with an investment capital of $15,000 or less. The goal is to help businesses develop as well as create and maintain viable jobs. The Board of Directors may, however, approve requests over $15,000 at their discretion.

Industry sectors:

Prioritized industry sectors include propulsive services and manufacturing (both underrepresented in Verdun), horticulture, call centres and tourism. Prioritized within the retail sector are high-end clothing and footwear for men and women, fine foods, hobbies, tourism, home renovation and cultural products. The projects must be directly linked to PLACÉE and its development objectives.

Eligible companies must:

  • be Quebec businesses with a head office in Quebec whose main activities take place in Verdun;
  • be for-profit businesses that generate economic activity;
  • have provided 10–20% percent of the investment capital—mandatory in the case of start-ups and preferred in other situations. These investment conditions are outlined in the current investment policy;
  • have requested LIF financing for between $1,000 and $15,000; the Board of Directors may, however, approve requests over $15,000 at their discretion.

Companies are committed to providing their financial reports and business or management plan for review when applying for LIF financing.

Eligible expenses:

Capital investment including the purchase of land or real estate, machinery and tools, inventory, incorporation and related costs, with the exception of advertising.

Acquisition of technology, software, patents and all other related expenses, with the exception of research and development.

Cash-flow requirements related exclusively to first-year business operations

Business expenditures incurred before the CLD receives a formal request for assistance are not eligible.

Approved financial assistance may not be directed towards sustaining an organization, financing its debt, repaying future debt or towards projects already completed.

Length:

Investment is generally authorized for a period ranging from one to five years.