Développement Vaudreuil-Soulanges — FSTE
QC, Canada
Supports business transfers in Vaudreuil-Soulanges region
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
Loans and Capital investments
Expert Advice
grant_single|eligibleIndustries
- Manufacturing
- Retail trade
- Accommodation and food services
- Other services (except public administration)
- Public administration
grant_single|grantors
- Développement Vaudreuil-Soulanges
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Développement Vaudreuil-Soulanges — FSTE grant offers support for business transfers with non-repayable assistance and favorable financing, providing up to $150,000 in loans. It is designed to aid businesses in retail, food services, industrial and service sectors in preserving local economic activities and ensuring a smooth transition of ownership.
grant_single_labels|terms_and_conditions
The Développement Vaudreuil-Soulanges — FSTE grant offers comprehensive financing solutions designed to promote successful business transfers within the region. These financing modalities aim to accommodate the financial needs of both ceding and acquiring parties.
- Loans available ranging from $25,000 to $150,000 for acquiring parties, with an annual interest rate between 2% and 4% depending on risk assessment.
- Loan amortization periods span from 60 to 72 months, featuring a 12-month principal moratorium.
- Eligible expenses for acquiring parties range from $5,000 to $10,000.
- Non-repayable assistance is available as grants for professional fees, covering 50% of eligible expenses up to $5,000, subject to fund availability.
- For ceding parties, eligible expenses for evaluation reports range from $5,000 to $15,000.
- Grants for professional fees applicable to ceding parties cover 50% of eligible expenses, with a maximum of $7,500, until the funds are exhausted.
- No file opening or annual renewal fees are charged.
grant_single_labels|projects
This funding initiative aids in the successful transition of business ownership in the Vaudreuil-Soulanges region, targeting both business sellers and buyers. Its focus is on assisting through the financial process and legal aspects of business transfers.
- Granting financial support for business evaluation reports to sellers.
- Providing non-repayable financial aid for professional fees associated with transfer transactions.
- Offering loans with favorable rates to buyers to facilitate ownership transfer.
- Subsidizing legal documentation necessary for transactions, such as letters of intent and promises of purchase or sale.
- Ensuring independent appraisal opinions for buyers on evaluations presented by sellers.
grant_single|admissibleProjectsExample
$ 60,000
Create a skill development program for youths
$ 45,000
Establish a farmer's market cooperative
$ 100,000
Implement an eco-friendly packaging initiative
$ 40,000
Launch an art therapy program for veterans
$ 250,000
Launch a renewable energy microgrid system
$ 75,000
Develop a community-focused mobile health application
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the companies' operational status and financials.
- The company must be in operation for over five years within the territory of the MRC of Vaudreuil-Soulanges and must be in good financial condition.
- Eligible companies must have annual sales exceeding $500,000 or employ more than five permanent staff members, including shareholders.
- A change of control involving more than 51% of the company's shares must be involved.
grant_eligibility_criteria|who_can_apply
The Fonds de soutien au transfert des entreprises (FSTE) is specifically designed for businesses located in the Vaudreuil-Soulanges area. Eligible applicants include retail businesses, food and restaurant services, industrial enterprises, and service companies. Both business sellers and buyers aiming for business transitions within this region can apply. The targeted businesses must have been operational for over five years within the territory, in good financial health, and must have annual sales exceeding $500,000 or employ more than five permanent employees, including shareholders. Additionally, the business transfer involves a change of control exceeding 51% of the shares. Reimbursement or proof of professional fees is required for payment disbursement.
grant_eligibility_criteria|who_cannot_apply
This grant excludes certain expenses and activities that do not align with the transition-focused goals of the fund. The restrictions ensure professional fees unrelated to pre-transaction phases are not covered.
- Professional fees related to the period after the offer acceptance up to the transaction closure.
grant_eligibility_criteria|eligible_expenses
Eligible expenses for the Développement Vaudreuil-Soulanges — FSTE grant include specific costs related to professional fees linked to business transfers.
- Independent opinion on an evaluation report submitted to the buyer by the seller.
- Opinion or drafting of legal documents related to a potential transfer transaction (e.g., Letter of Intent, promise to purchase, promise to sell, etc.).
- Evaluation report on the value of the business to be sold for sellers.
grant_eligibility_criteria|zone
This grant is available exclusively to businesses operating within a designated geographical area to support regional economic development efforts. The program specifically targets a region that holds strategic importance for the funding body's goals.
- Companies located in the MRC de Vaudreuil-Soulanges.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Determine Eligibility
- Ensure your business meets all eligibility criteria, including being active for over five years in Vaudreuil-Soulanges and having annual sales of over $500,000 or more than five permanent employees.
- Step 2: Gather Required Documentation
- Prepare necessary documents such as financial statements and legal documents related to the transfer of ownership.
- Include any required professional opinions or evaluations.
- Step 3: Complete Application Form
- Download and fill out the appropriate FSTE application form for either cédants or repreneurs.
- Step 4: Submit Your Application
- Send the completed application form along with all required documentation by email to ngagnon@developpementvs.com.
- Step 5: Contact for Additional Information
- Contact the grant provider at 450 424-2262 if further clarification or information is needed.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- No fees are required for the opening of a file or for annual renewal.
- The assessment is based on opinions submitted by recognized professional order members, ensuring credibility.
- DEV reserves the right to change eligibility criteria at any time based on its priorities.
- Expenditures are limited to the funds available, placing emphasis on timely application.
grant_single_labels|contact
ngagnon@developpementvs.com
450-424-2262
