MRC Bellechasse — Local Investment Fund - Succession Component (FLI Relève)
QC, Canada
Interest-free loan to support business succession in Bellechasse
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
- grant_single|allIndustries
grant_single|grantors
- MRC de Bellechasse
grant_single|status
grant_card_status|open
grant_single_labels|preview
The FLI Relève program is designed to facilitate business succession by offering interest-free loans up to $25,000 to entrepreneurs acquiring at least 25% of an existing business in Développement Économique Bellechasse (DÉB). Eligible activities include purchasing ownership stakes and covering professional fees related to the acquisition transaction.
grant_single_labels|terms_and_conditions
This grant offers structured financing options designed to foster business succession in the Bellechasse region. It assists entrepreneurs in acquiring a significant stake in existing enterprises through interest-free and low-interest loans.
- An interest-free loan up to CAD 25,000 is available, with a capital repayment grace period of the first year.
- An additional loan up to CAD 50,000 may be granted, subject to interest.
- The loan must be repaid over a maximum period of seven years.
grant_single_labels|projects
This grant facilitates the acquisition of significant ownership in existing businesses within the Bellechasse region, supporting business succession and economic continuity. The eligible projects focus on ownership transition and business acquisition activities.
- Acquisition of voting shares or partnership interests in existing businesses.
- Payment for professional services directly related to the acquisition transaction.
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's intention to acquire a significant stake in an existing business.
- The applicant must desire to acquire at least 25% of the value of an existing business.
- The business must be located within the territory served by Développement Économique Bellechasse (DÉB).
- The acquisition should facilitate the transfer of ownership and support the continuity of the business where the current owners are aging.
grant_eligibility_criteria|who_can_apply
This grant is intended for entrepreneurs who plan to acquire a significant ownership of at least 25% in an existing business located within the territory served by Développement Économique Bellechasse (DÉB). The goal is to support the succession process in businesses where current owners are aging, ensuring the preservation of jobs and fostering business continuity through proper succession planning.
grant_eligibility_criteria|eligible_expenses
The grant covers expenses directly related to the acquisition of ownership in an existing business.
- Expenses related to the acquisition of ownership interests (voting shares or equity) in the targeted business.
- Professional service fees directly associated with the acquisition transaction.
grant_eligibility_criteria|zone
This grant applies specifically to companies located in a designated geographic region to support local economic development.
- Companies situated within the territory served by Développement Économique Bellechasse (DÉB).
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Determine Eligibility
- Ensure that you meet the eligibility criteria, which includes acquiring at least 25% of an existing business in the DÉB region.
- Verify that the use of funds is for acquiring ownership and professional fees directly related to the acquisition.
- Step 2: Prepare Required Documents
- Collect documentation on the business acquisition, including valuation and ownership details.
- Prepare financial statements and business plans to demonstrate viability and potential for job retention.
- Step 3: Complete Application Form
- Visit the website or contact Développement Économique Bellechasse to obtain the application form.
- Fill in the application form with detailed information about your business acquisition project.
- Step 4: Submit Application
- Submit the completed application form along with all required documents to Développement Économique Bellechasse.
- Ensure to send the application before any specified deadline to avoid disqualification.
- Step 5: Await Response
- Wait for confirmation or feedback from the funding body regarding your application status.
- Prepare for possible follow-up questions or requests for additional information.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The grant includes an interest-free loan component with a capital repayment holiday for the first year.
- An additional loan amount may be available, but it will carry an interest rate.
- The repayment period for the loan is a maximum of seven years from the signature date.
