Collective recovery support program (PSRC)

• 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.

• 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.

Who is eligible?

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.

Who is not eligible

• 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.

Eligible geographic areas

• Quebec

• 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.