MRC La Côte-de-Beaupré — Local Investment Fund (FLI) – Succession Stream
grant_single|update January 24, 2025
QC, Canada
Interest-free loan supporting youth acquiring 25% business ownership
grant_single_labels|summary
grant_single|eligibleFinancing
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grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- MRC La Côte-de-Beaupré
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grant_card_status|open
grant_single_labels|preview
The Fonds local d’investissement (FLI) – Volet relève provides financial support up to $150,000 in the form of an interest-free loan with a capital repayment holiday for the first year, aiming to assist young individuals in acquiring at least a 25% financial stake in an existing business located within the designated rural area according to the Politique nationale de la ruralité. The program is designed to facilitate significant financial participation for young entrepreneurs in established enterprises.
grant_single_labels|terms_and_conditions
This grant offers specific financing modalities aimed at enabling young individuals to make significant financial investments in existing businesses, thus promoting business succession. The terms are structured to facilitate ease of entry through flexible repayment options.
- Maximum financial assistance of $150,000.
- Provided in the form of an interest-free loan.
- Capital repayment holiday for the first year.
grant_single_labels|projects
The grant supports activities for young entrepreneurs who wish to acquire significant financial participation in existing businesses. These activities are geared towards facilitating ownership transition and enhancing local economic stability.
- Purchase of shares or equity in an existing company.
- Securing financial investment to acquire company assets.
- Co-financing structures to enable leadership succession in a business.
- Legal and financial advisory services related to the acquisition process.
- Due diligence activities related to acquiring a 25% or more stake in a company.
grant_single_labels|admissibility
Eligibility for the solutions de financement administered by Développement Côte-de-Beaupré may be determined by various factors, although specific criteria are not explicitly detailed in the context provided.
- The applicant's business must be experiencing growth or facing challenges requiring financial advice or solutions.
- The project must be related to starting, acquiring, or consolidating an existing business.
- The applicant may need to demonstrate specific needs or project evolution that aligns with the available funding solutions.
grant_eligibility_criteria|who_can_apply
This grant program is designed to support businesses within the Côte-de-Beaupré region seeking financial solutions to aid in their expansion or overcoming difficulties. Applicants are provided with a variety of funding solutions, including local investment funds, microcredit, and support for autonomous work.
grant_eligibility_criteria|zone
This grant is specifically targeted for companies situated within a certain geographical scope as dictated by the policy.
- Businesses located within the territory of application defined by the Politique nationale de la ruralité.
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grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The interest-free loan aspect allows young entrepreneurs to reinvest savings into the business instead of covering interest payments, potentially accelerating their growth trajectory.
- The repayment holiday during the first year provides financial relief, allowing the business to stabilize under new ownership and management.
- The process for seeking this grant may offer networking opportunities with other young entrepreneurs and business mentors in the rural community.