MRC Bellechasse — Local Investment Fund - Succession Component (FLI Relève)
Last Update: May 13, 2025
QC, Canada
Interest-free loan to support business succession in Bellechasse
MRC Bellechasse — Local Investment Fund - Succession Component (FLI Relève) at a glance
Eligible Funding
- Max. $75,000
- Up to 25% of project cost
Timeline
- Continuous Intakes
Financing Type
Loans and Capital investments
Eligible Industries
- All industries
Grant Providers
- MRC de Bellechasse
Status
Open
Overview of the MRC Bellechasse — Local Investment Fund - Succession Component (FLI Relève) program
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.
Financing 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.
Eligible projects & activities
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.
Eligibility criteria of the MRC Bellechasse — Local Investment Fund - Succession Component (FLI Relève) program
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.
Who is eligible?
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.
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.
Eligible geographic areas
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).
How to apply to the MRC Bellechasse — Local Investment Fund - Succession Component (FLI Relève) program
1
Eligibility Assessment
- Check the eligibility criteria for the FLI Relève with Economic Development Bellechasse.
- Confirm that the company is located within the territory covered by DÉB and that the acquisition represents at least 25% of the value of the company.
2
Preparation of the documentation
- Gather the documents related to the acquisition, including the company's title deeds (voting shares or partnership interests).
- Collect the proof of professional service fees directly related to the transaction.
- Prepare a detailed business plan demonstrating the viability of the business and the impact of the acquisition on local development.
3
Development of the request
- Fill out the specific application form for the Relève component of the FLI.
- Include a description of the project and the objectives of the acquisition.
- Provide evidence of job preservation in the transmitted company.
4
Submission of the request
- Submit the complete funding application to the Bellechasse Economic Development office.
- Check that all documents are properly attached and that the file is complete.
5
Confirmation of receipt
- Wait for the confirmation of receipt of the request by DÉB.
- Follow any further communication regarding possible requests for additional documents or clarifications.
Additional information
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.