)
Collective recovery support program (PSRC)
QC, Canada
Supports collective business acquisitions transforming to cooperatives or nonprofits
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Manufacturing
- Information and cultural industries
grant_single|grantors
- Centre de tranfer d'entreprise du Québec (CTEQ)
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Collective Recovery Support Program (PSRC) provides a non-repayable financial aid of up to $11,000 to facilitate the transition of businesses to cooperative or non-profit structures. Eligible activities include partial or complete takeover of businesses, asset acquisition for business recovery projects, and transformation into cooperative models, prioritizing sectors like manufacturing and digital industries.
grant_single_labels|terms_and_conditions
- Non-repayable financial contribution of up to $11,000 for business sellers ("cédants").
- The program supports professional services aimed at facilitating collective business takeovers.
- The government's financial assistance cannot exceed 80% of total eligible project costs.
- The assistance is granted based on recognized eligible expenses.
grant_single_labels|projects
- Partial or complete takeover of a company by employees, clients, suppliers, or users through a cooperative or non-profit organization structure.
- Purchase of assets necessary for the revitalization of a business or economic activity belonging to a company.
- Transformation of a business into a cooperative or non-profit structure, including the involvement of new members who were not shareholders before the transformation.
- Simultaneous or staggered acquisition of multiple private companies by a collective enterprise.
grant_single|admissibleProjectsExample
$ 30,000
Launch of a mobile application for educational purposes
$ 28,000
Start an artisan bakery with gluten-free options
$ 25,000
Develop a sustainable fashion workshop for new designers
$ 35,000
Launch a tech incubator for environmental startups
$ 25,000
Create an online platform for mental health resources
$ 20,000
Establish a community kitchen to enhance food security
grant_single_labels|admissibility
- The program is open to businesses where at least one owner wishes to sell their shares within the next five years.
- Eligible projects include the partial or complete takeover of a business by a cooperative or a non-profit organization.
- The project must include the acquisition of assets necessary for the economic restart of a business or activity.
- The transformation to a cooperative or non-profit organization must involve new members who were not shareholders before the transformation.
- Simultaneous or deferred acquisitions of multiple private businesses by a collective enterprise can be subject to separate applications.
- The program prioritizes businesses in the manufacturing and key tertiary sectors, including digital.
- All economic sectors are eligible, except for those with specific exclusions such as businesses on the public contract ineligibility register, financial institutions, insurance sector, and businesses primarily engaged in residential real estate rental or purchase.
- Businesses owned more than 50% by a government entity and publicly listed companies are excluded.
grant_eligibility_criteria|who_can_apply
The Collective Recovery Support Program (PSRC) is designed for companies in which at least one owner intends to sell their share within the next five years. Eligible projects include the partial or complete takeover of a business where an owner (holding at least 15% of shares) wishes to sell, the purchase of essential assets for relaunching a business or economic activity, and transforming a company into a cooperative or nonprofit organization (NPO) if new non-shareholding members join the project. The program primarily targets the manufacturing and key tertiary sectors (including digital) but is open to all economic sectors except for those listed in specific exclusions.
grant_eligibility_criteria|who_cannot_apply
- Companies registered in the Register of Enterprises Ineligible for Public Contracts (RENA).
- Financial institutions and the insurance sector.
- Companies whose primary activity (in terms of revenue) involves renting or purchasing residential property, or companies that own only land without any other economic activity.
- Companies owned by more than 50% of voting shares by a governmental entity.
- Public companies (listed on the stock exchange).
- Government entities.
grant_eligibility_criteria|zone
- Quebec
grant_single_labels|register
- Step 1: Check Eligibility
- Consult the list of eligible businesses to ensure qualification.
- Step 2: Assess Needs
- Identify the specific needs for your project and the necessary professional services.
- Examine financing sources to cover costs, ensuring that government aid does not exceed 80% of the total.
- Step 3: Complete Application Form
- Fill out the form specific to Volet 1 of the program.
- Step 4: Gather Required Documents
- Collect all supplementary documents necessary for the application.
- Step 5: Submit Application
- Submit the completed form along with supporting documents.
- Step 6: Initial Contact from CTEQ
- A representative from CTEQ will get in touch with you for further communication.
- Step 7: Application Review
- CTEQ will review the application and make an assessment.
- Step 8: Decision Communication
- Receive the decision from CTEQ regarding your application.
- Step 9: Membership Payment
- Complete your membership registration with CTEQ.
- Step 10: Submit Results and Proof of Payment
- Provide CTEQ with the final work results from professionals, the final invoice, and payment proof.
- Submit these within the given timeframe to qualify for reimbursement.
- Step 11: Register for Direct Deposit
- Enroll in direct deposit to facilitate the reception of financial aid.
- Step 12: Document Evaluation
- CTEQ will evaluate the submitted documents.
- Step 13: Grant Disbursement
- CTEQ will disburse the grant based on recognized eligible expenses and the maximum aid rate.
grant_single_labels|otherInfo
- The grant provides non-repayable financial contributions.
- The maximum financial assistance available is up to $11,000 for cedants.
- At least one of the business owners must plan to sell their shares within the next five years.
- The program prioritizes businesses in the manufacturing and key tertiary sectors, including digital.
- Businesses excluded from the program include those listed in RENA, financial institutions, insurance, residential real estate, government-owned enterprises, and publicly traded companies.
- The cumulative government assistance for a project cannot exceed 80% of the eligible expenses.
- To receive reimbursement, applicants must provide proof of payment and meet the submission deadlines.
grant_single_labels|contact
+1 844 200-2837
