MRC Charlevoix — Local Investment Fund (FLI) “Succession” Stream
At a glance
- Max. $25,000
- Unspecified
- Arts, entertainment and recreation
- Accommodation and food services
- Other services (except public administration)
- Public administration
Overview
The grant provides non-repayable financial assistance up to a maximum of $100,000 per project to support entrepreneurship by creating and sustaining viable businesses, financing start-up, expansion, or acquisition, and contributing to job development and economic growth within the MRC of Charlevoix. Eligible activities include business start-up, expansion, and economic projects in private, collective, and social economy enterprises.
Financing terms and conditions
This grant facilitates financial support to promote entrepreneurship by aiding in business ownership transfers. It is specifically designed to boost entrepreneurial succession through financial incentives.
- Provision of up to $25,000 as a loan to individuals for purchasing assets or shares during a business transfer.
Activities funded
The Local Investment Fund (FLI) "Succession" financially assists individuals wishing to take over existing businesses in order to stimulate entrepreneurship in the region. Eligible projects revolve around the purchase of assets or shares during a business transfer to ensure a smooth and sustainable transition of ownership.
- Acquisition of commercial assets as part of an entrepreneurial succession.
- Purchase of shares to facilitate the transfer of ownership of an operating business.
- Training and skills development projects for entrepreneurial succession.
- Initiatives aimed at strengthening the sustainability of taken-over businesses.
- Support programs for ownership transition and entrepreneurial management.
Eligibility
Eligibility for this grant is aimed at fostering entrepreneurship, supporting business ownership transfer, and encouraging entrepreneurial succession within the territory.
- The applicant must be involved in a business transfer of an existing and operational company.
Who is eligible?
The MRC Charlevoix — Local Investment Fund (FLI) “Succession” Stream is open to individuals interested in entrepreneurial activities and the creation of jobs within the MRC Charlevoix territory. This grant is specifically designed to support individuals in acquiring ownership of an existing, operational business by facilitating the transfer of property ownership. Applicants from all sectors of activity are eligible.
Who is not eligible
There are no explicit details provided regarding the types of companies or industries that are not eligible for this grant in the given context. The grant seems to aim at encouraging entrepreneurship in the territory of the MRC of Charlevoix.
Eligible expenses
The grant is designed to support eligible expenses directly related to business succession and ownership transfer.
- Purchase of business assets.
- Purchase of business shares.
Eligible geographic areas
This grant does not specify eligible geographical areas based on the available information. It appears to be open to eligible entities without defined regional limitations.
How to apply
Preparation of the request
- Become familiar with the eligibility criteria and objectives of the FLI for succession.
- Write a business plan highlighting the business takeover project and its potential impacts.
- Prepare personal financial statements and those of the company to be taken over, if available.
Gather the required documents
- Prepare a list of assets or shares to purchase, along with their valuation.
- Obtain references, letters of support, or proof of entrepreneurial experience if necessary.
- Gather any additional documentation required by the MRC Charlevoix.
Submit the request
- Contact the Charlevoix MRC to confirm the preferred method for submitting your application (online or in writing).
- Send all required documents to the responsible service at the MRC, following all provided instructions.
- Include a cover letter stating your interest in the business transfer.
Post-Submission Follow-Up
- Receive an acknowledgment of your request from the MRC Charlevoix.
- Be available for additional meetings or interviews if required.
Frequently Asked Questions about the MRC Charlevoix — Local Investment Fund (FLI) “Succession” Stream Program
What is the MRC Charlevoix — Local Investment Fund (FLI) “Succession” Stream?
How much funding can be received?
What expenses are eligible under MRC Charlevoix — Local Investment Fund (FLI) “Succession” Stream?
What is the deadline to apply?
Is the MRC Charlevoix — Local Investment Fund (FLI) “Succession” Stream a grant, loan, or tax credit?
Who are the financial supporters of the MRC Charlevoix — Local Investment Fund (FLI) “Succession” Stream?
Who is eligible for the MRC Charlevoix — Local Investment Fund (FLI) “Succession” Stream program?
Who can I contact for more information about the MRC Charlevoix — Local Investment Fund (FLI) “Succession” Stream?
Where is the MRC Charlevoix — Local Investment Fund (FLI) “Succession” Stream available?
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