MRC La Côte-de-Beaupré — Local Investment Fund (FLI) – Succession Stream
QC, Canada
Interest-free loan supporting youth acquiring 25% business ownership
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
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
grant_single|status
grant_card_status|open
grant_single_labels|preview
<p>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.</p>
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.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Preliminary Evaluation
- Verify eligibility based on the criteria set by the FLI for young entrepreneurs acquiring a business.
- Meet with a financial advisor or a consultant from the local investment fund for initial assessment.
- Step 2: Gather Required Documentation
- Compile necessary documents including personal identification, business acquisition plan, and financial forecasts.
- Obtain a valuation report demonstrating that your investment constitutes at least 25% of the business’s value.
- Step 3: Develop Business Plan
- Prepare a comprehensive business plan detailing business objectives, market analysis, and operational strategies.
- Include a financial plan with a detailed budget, cash flow projections, and funding requirements.
- Step 4: Complete Application Form
- Fill out the application form provided by the local investment fund office, ensuring all sections are complete.
- Double-check the form for accuracy and completeness.
- Step 5: Submit Application
- Submit the completed application form and all supporting documents to the local investment fund office.
- Ensure submission before the specified deadline to be considered for funding.
- Step 6: Receive Acknowledgment
- Await confirmation from the local investment fund office that your application has been received.
- Keep a copy of any receipt or acknowledgment for future reference.
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.
