MRC Beauce Sartigan — Local funds - RELIEF component
Last Update: February 19, 2025
QC, Canada
Supports business succession in Beauce-Sartigan through financial aid
MRC Beauce Sartigan — Local funds - RELIEF component at a glance
Eligible Funding
- Max. $100,000
- Up to 20% of project cost
Timeline
- Continuous Intakes
Financing Type
Loans and Capital investments
Eligible Industries
- Manufacturing
- Retail trade
Grant Providers
- MRC Beauce-Sartigan
Status
Open
Overview of the MRC Beauce Sartigan — Local funds - RELIEF component program
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.
Financing 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.
Eligible projects & activities
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.
Eligibility criteria of the MRC Beauce Sartigan — Local funds - RELIEF component program
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.
Who is eligible?
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.
Eligible geographic areas
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.
How to apply to the MRC Beauce Sartigan — Local funds - RELIEF component program
1
Initial Consultation
- Contact an advisor from the Beauce Economic Council for detailed information and support regarding your eligibility.
- Ask questions about the eligibility conditions and submission requirements.
2
Preparation of the request
- Gather the necessary documents demonstrating the viability of the project and the repayment capacity.
- Clearly describe the project, including its cost, structure, and expected benefits.
- Prepare a financial plan including detailed forecasts.
- Ensure a minimum commitment of 25% of the voting shares of the targeted company.
- Prepare the required funding, which should be at least 15% in cash of the total project cost.
3
Submission of the request
- Finalize all required documents and forms.
- Submit the complete file to the Beauce Economic Council, by the means indicated during the initial consultation.
Additional information
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.
Contact MRC Beauce-Sartigan
418 228-8123