grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|fromMinToMax
grant_single|deadlines
  • grant_single|openingDateJuly 28, 2022
grant_single|financingType
Loans and Capital investments
Expert Advice
grant_single|eligibleIndustries
  • grant_single|allIndustries
grant_single|grantors
  • Centre de tranfer d'entreprise du Québec (CTEQ)
grant_single|status
grant_card_status|open

grant_single_labels|preview

Get specific business transfer funding to promote entrepreneurial growth and succession of existing businesses.

grant_single_labels|projects

This grant is specifically targeted at companies located within the province of Québec. Companies must have their primary operations, management, and employees stationed within this province to qualify.
  • Companies headquartered in Québec.
  • Enterprises with the majority of management residing in Québec.
  • Businesses conducting their primary activities within Québec.
grant_single|admissibleProjectsExample

$266,666

Vancouver
Internal buyout of a family-run bookstore by next-generation family members

$366,666

Ottawa
Acquisition of a local art gallery by an art enthusiast

$666,666

Montreal
Acquisition of a local bakery chain by a management team

$453,333

Halifax
External buyout of a fitness center by a group of health enthusiasts

$1,000,000

Calgary
Strategic acquisition of a logistics company by a group of investors

$500,000

Toronto
Acquisition of an eco-friendly cleaning product manufacturer by a new entrepreneur

grant_single_labels|admissibility

Eligibility for the Fonds de transfert d’entreprise du Québec is determined by specific criteria related to the applicant's business profile and operational aspects.
  • The company must be a Quebec enterprise, defined as a corporation or limited partnership, private or public, with its head office in Quebec.
  • A majority of the management must reside in Quebec.
  • A majority of the company's employees must reside in Quebec.
  • The principal management and operational activities must be conducted in Quebec.
  • The enterprise must not operate within the real estate sector or engage in transactions involving the acquisition of agricultural land.

grant_eligibility_criteria|who_can_apply

Individuals, management companies of individuals, or the business being taken over are eligible to apply for this fund, under the condition that the transaction involves a change of control in a Quebec-based enterprise.

grant_eligibility_criteria|who_cannot_apply

This grant excludes certain companies and industries due to their status or main activity. The restrictions aim to ensure that funds are directed toward strategic sectors aligned with the grant's objectives.
  • Companies operating in the real estate sector.
  • Transactions involving the acquisition of agricultural land.

grant_eligibility_criteria|eligible_expenses

This grant facilitates the transition and transfer of ownership for Quebec-based businesses. It aims to support entrepreneurial growth through financing and expert advice during business acquisitions.
  • Acquiring an existing business by an individual or group of individuals based in Quebec.
  • Facilitating the internal purchase of a business by family members or current executives.
  • Supporting external acquisitions of businesses by private individuals or groups.
  • Enabling strategic acquisitions by external investors to ensure business continuity.

grant_eligibility_criteria|zone

The information provided does not specify eligible expenses.

grant_single_labels|criteria

A summary of evaluation and selection criteria applicable for this grant involves the eligibility of Quebecois enterprises and a mandatory participation of either Investissement Québec or the Fonds de solidarité FTQ. Additionally, specific financial commitments from the releveur are needed.
  • Only Quebecois enterprises are eligible, defined as those with headquarters, majority of management, employees, and operations based in Quebec.
  • No real estate or farmland transactions are allowed.
  • Participants must be individuals, their management company, or the relevant enterprise.
  • The transaction must involve a change in control within the enterprise.
  • Investissement Québec or Fonds de solidarité FTQ must participate in financing as either lenders or investors.
  • The releveur must commit to working full-time in the enterprise.
  • A minimum personal investment of $50,000 by the releveur is required.
  • The Quebec Transfer Business Fund provides a loan of two dollars for each dollar contributed by the releveur, subject to minimum and maximum limits.

grant_single_labels|register

Here are the steps to submit an application for this fund:
  • Step 1: Preliminary Inquiry
    • Contact one of the participating fund partners to express interest in applying for the Fonds de transfert d'entreprise du Québec.
    • Meet the eligibility criteria as either a releveur or seller, including involvement of Investissement Québec or Fonds de solidarité FTQ.
  • Step 2: Prepare Required Documentation
    • Gather all necessary information that demonstrates your eligibility and plan for the business transfer.
    • Prepare a detailed business plan outlining the proposed acquisition and your role in the company.
    • Past financial statements of the company, if applicable.
    • Proof of your own financial investment, including a minimum of $50,000 cash injection.
  • Step 3: Complete Application
    • Fill out the application form available through the fund's participating partners.
    • Include all required documentation as per the application guidelines.
  • Step 4: Submit Application
    • Submit the completed application form and documents to the fund partner you have registered with.
    • Ensure that the application is submitted within any specified deadlines.
  • Step 5: Confirmation and Follow-Up
    • Receive confirmation and further instructions from the fund partner about the next steps.
    • Be prepared to provide additional information or clarification as requested.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:
  • The interest rate is based on Quebec bonds with a seven-year maturity, plus a 3.25% premium, with a minimum rate of 6.50%.
  • A maximum loan term of 84 months is applicable.
  • A capital repayment moratorium may be granted for up to 24 months, extendable to 36 months with a 0.50% interest rate increase.

grant_single_labels|documents

Quebec Business Transfer Fund

Apply to this program