Great news for Laval business as the city of Laval has added yet another element to its box of  financial tools for local entrepreneurs and businesses.

The city’s Service du développement économique is now managing just over $6 million in investment funds with a new boost offering funding of up to $250,000 on the first round of financing, facilitating access to capital for Laval businesses in the start-up or growth phases, and even for acquisition in a business succession.

Laval is acting proactively by diversifying its programs and tools to adapt to the realities of today’s entrepreneurs, foster the emergence of businesses and support their development on its territory, said Executive Committee member Stéphane Boyer. “We are pursuing our goal of stimulating the growth of local entrepreneurship and developing growth and emerging sectors. The program now offered by the City will accelerate economic development and create and maintain jobs here.” It will serve as a lever for companies with high added value.

Laval’s Fonds locaux d’investissement envelope included a Fonds local d’investissement (FLI) and a Fonds local de solidarité (FLS) which are administered in three divisions: general, small business and succession. The Funds are managed by the economic development service in collaboration with an investment committee to ensure healthy management of the investment portfolio.

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