MRC Beauce Sartigan — Local funds - RELIEF component
QC, Canada
Supports business succession in Beauce-Sartigan through financial aid
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
- Manufacturing
- Retail trade
grant_single|grantors
- MRC Beauce-Sartigan
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds locaux - volet RELÈVE grant aims to support business ownership transfers and succession planning for aging business owners in the MRC de Beauce-Sartigan, offering up to $100,000 for manufacturing projects and up to $50,000 for commerce and service projects. Eligible activities include demonstrating relevant domain experience, acquiring at least 25% of voting shares, providing a 15% cash investment, and proving the project's viability with financial forecasts.
grant_single_labels|terms_and_conditions
This grant provides strategic financial assistance intended for business succession and entrepreneurship in the Beauce-Sartigan region. The grant's financial arrangements differ depending on whether the project is in the manufacturing sector or the commerce and service sectors.
- For manufacturing projects, a loan of up to 20% of the project cost is offered, capped at a maximum of $100,000.
- For commerce and service projects, a loan of up to 20% of the project cost is available, with a maximum of $50,000.
- Interest rates include 25% of the authorized amount at no interest, while the remaining 75% is charged at a rate determined by the project's risk level.
- The loan repayment term is 60 months, with a possibility of extension up to 84 months.
- Under certain conditions, a capital repayment moratorium may be granted for up to 12 months during the loan period.
grant_single_labels|projects
This grant is targeted at supporting the ownership transition and succession planning for businesses within the MRC of Beauce-Sartigan. Eligible projects include those focused on the transfer of company ownership and preparation for succession as the original owners retire.
- Projects involving the acquisition of at least 25% voting shares of businesses by individuals with relevant knowledge and management skills.
- Projects requiring financial investment in business succession, ensuring a minimum of 15% personal investment of the project cost.
- Manufacturing projects requiring loans up to 20% of project cost, with a maximum of $100,000.
- Commerce and service sector projects requiring loans up to 20% of project cost, with a maximum of $50,000.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's experience, ownership acquisition, financial investment, and project viability.
- The applicant must demonstrate relevant knowledge and experience in the field, as well as management skills.
- The applicant must acquire at least 25% of the participating voting shares of a business whose owners are aging.
- The applicant must make a financial contribution of at least 15% in cash of the project's cost.
- The applicant must demonstrate the project's viability and the capacity for repayment through financial forecasts.
grant_eligibility_criteria|who_can_apply
This fund aims to support business succession and the preparation for ownership transfer in the MRC de Beauce-Sartigan, targeting businesses whose owners are preparing for retirement.
grant_eligibility_criteria|zone
This funding program is specifically directed towards businesses located within a distinct region, aligning with targeted economic strategies. The eligible geographical area is tailored to support local enterprises effectively.
- Companies situated in the MRC de Beauce-Sartigan region.
grant_single_labels|register
- Step 1: Contact Economic Council
- Reach out to the Conseil économique de Beauce for consultation via phone at 418 228-8123.
- Discuss the specific requirements and ensure you meet all eligibility criteria.
- Step 2: Preliminary Assessment
- Prepare an overview of your business, including details of ownership and management experience.
- Evaluate and compile a financial forecast to demonstrate project viability and repayment capacity.
- Step 3: Gather Required Information
- Obtain documentation proving acquisition of at least 25% voting shares.
- Prepare proof of a minimum 15% cash funding of the project cost.
- Step 4: Application Preparation
- Compile a detailed project plan including intended use of funds and projected outcomes.
- Include all necessary documentation and supporting materials in your application package.
- Step 5: Submission
- Submit the completed application along with all required documents to the Conseil économique de Beauce.
- Ensure timely submission in accordance with any specified deadlines.
- Step 6: Await Response
- After submission, wait for confirmation and feedback from the funding committee.
- Be prepared to provide additional information if requested by the evaluators.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- This information is subject to change, so consulting with a counselor from the Beauce Economic Council is essential.
- Other conditions may apply, which are not specified in the given information.
- It is possible to contact the Beauce Economic Council at 418 228-8123 for further information.
grant_single_labels|contact
418 228-8123
Apply to this program
An Investment in Business Succession and Growth
The Fonds locaux - volet RELÈVE grant is designed to support the transfer of business ownership and succession planning for companies in the Beauce-Sartigan area. This financial assistance aims to ensure smooth transitions for businesses with aging owners, securing their continuity and future prosperity.
Detailed Insights into the Fonds locaux - volet RELÈVE Grant
The Fonds locaux - volet RELÈVE grant is an important financial vehicle aimed at facilitating the ownership transition for businesses located within the Beauce-Sartigan region. As company owners approach retirement, this grant offers critical support in preparing a new generation of leaders to take the helm, thereby ensuring business longevity and economic stability in the community.
To qualify for this grant, eligible candidates must exhibit substantial expertise and relevant experience in their industry coupled with strong managerial skills. The grant requires participants to acquire at least 25% of the voting shares in a business owned by retiring individuals, and to provide a minimum of 15% of the project cost as an initial investment. These criteria are established to ensure that applicants are committed and capable of steering the company successfully after the transfer.
The financial structure of the grant is meticulously designed to address the varying needs of both manufacturing and commercial or services projects. For manufacturing projects, recipients can receive a loan covering up to 20% of the total project cost, with a ceiling of $100,000. In the case of commerce and service-related projects, the loan offers the same percentage but is capped at $50,000. This specific financial aid structure not only addresses the fiscal diversity of different sectors but also helps in accommodating distinct business realities.
Moreover, the grant offers advantageous interest terms to make financial transitions smoother. For both project categories, 25% of the authorized loan fund is interest-free, while the remaining 75% incurs an interest rate determined by the inherent risk level of the project. This approach ensures that businesses can manage repayments feasibly while adjusting to the new management dynamics. The standard loan amortization term extends to 60 months, with a possibility of an extension up to 84 months, ensuring flexible repayment schemes tailored to individual business capabilities.
In exceptional cases, a capital repayment moratorium may be granted for a maximum of 12 months within the loan term, offering temporary financial relaxation to businesses during the crucial phases of transition. This feature is particularly beneficial in unforeseen circumstances requiring immediate cash flow adjustments, helping businesses maintain operational balance.
Partnering with the Conseil économique de Beauce (CEB), the grant underscores the importance of professional advice and rigorous planning in making transitions successful. By encouraging local leadership continuity, the grant strengthens community ties and promotes economic resilience.
The Fonds locaux - volet RELÈVE grant represents not only a lifeline for businesses facing the critical junction of leadership change but also an investment in the future economic prosperity of the Beauce-Sartigan region. Companies that participate in this program not only secure necessary funding but also strategically position themselves for sustainable growth and innovation in the competitive marketplace.
