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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
