Shawinigan Local Development Centre [ Available Funds : Social Economy Fund ]

Available Funds

Social Economy Fund

Program and Type of Support

The Social Economy Fund is reserved for collective entrepreneurship, the aim of which is to bring together a group of people to conduct business for a project that meets one or more needs of a particular social group or community.

The CLD provides financial assistance in the form of a grant of up to $25,000 per business plan.

The combined total for financial assistance received from the Quebec and Canadian Governments as well as the CLD may not exceed 80% of the allowable project expenses.

Eligible Individuals or Groups

In general, the Social Economy Fund is geared towards any individual or group intending to start a business. Individuals or groups are selected according to their legal status (non-profit organization, cooperative, or mutual group). The philosophy behind this is simple - primacy of the individual over capital. Public organizations or groups with democratically selected representatives whose purpose is to promote reinvestment into the business or community can also benefit from such funds.

Project Selection Criteria

The CLD is responsible for designating a business as a social economy organization. All funding applications are analyzed based on the various social economy rules. They are then forwarded to the Funding Committee for recommendation and presented to the Board of Directors of the CLD before a final decision is presented to the applicant.