Open
Quebec City — Business Loans — Business Succession
Support for business succession in Quebec
Offered by
Quebec City
Record updated
- Funding available
- $ 300,000
- Deadline
- Open continuously
- Location
- Quebec City, Quebec, Canada
- Who can apply
- Entrepreneurs or groups of entrepreneurs wishing to acquire a significant stake in an existing business in order to take it over.
- See full eligibility
Overview
Entrepreneurial Succession is a City of Québec loan of up to 300 000 $ for entrepreneurs or groups of entrepreneurs who take over a business, in the Québec agglomeration, to support the transfer of management and ownership. It finances the acquisition of shares or assets and professional fees related to the transaction.
At a glance
Funding available
- Maximum funding
- $300,000
- Complete an acquisition or business transfer
Eligible candidates
- Location
- Quebec City
- Quebec
- Eligible Industries
- All industries
- Annual revenue
- All revenue ranges
- Organisation size
- All organization sizes
- Audience
- All groups
- Legal structures
- Non-profit
Start applying for this program
Take a practical assessment to gain a clear understanding of how well this program aligns with your specific needs and long-term goals.
Availability timeline
2026
Periods: 1
Eligibility
Who is eligible?
- Entrepreneurs or groups of entrepreneurs wishing to acquire a significant stake in an existing business in order to take it over.
- A group of entrepreneurs registered as a non-profit organization, cooperative, or management company for the purpose of taking over another business may be eligible.
Who is not eligible
- Applicants listed in the Register of Enterprises Ineligible for Public Contracts (RENA), including their subcontractors planned to carry out the project work.
- Applicants not compliant with the francization process, including the business targeted in Quebec that has 25 employees or more for at least six months without a valid certificate or document from the OQLF, or listed on the non-compliant businesses list.
- Applicants who have failed to meet their obligations in the two years preceding the application following a formal notice from the MEIE or the City of Québec related to previous financial assistance.
- State-owned enterprises, companies directly or indirectly controlled by a government, businesses majority-owned by a state-owned enterprise, as well as applicants protected under the Companies' Creditors Arrangement Act or the Bankruptcy and Insolvency Act.
- Businesses in pre-startup phase or in a turnaround situation, as well as those that operate, in whole or in part, in the excluded sectors provided for controversial weapons, fossil fuels, gambling and gaming, violent games, sexual exploitation, real estate management and development, or the production, sale, and services related to tobacco or drugs.
Eligible expenses
- Acquisition of ownership securities in the target business, namely voting shares or units, as well as the target business's assets.
- Professional fees strictly and directly related to the transaction, the acquisition of the business, and the transfer of its management.
Ineligible Costs and Activities
- Expenses incurred before the application is submitted.
- Debt service, repayment of upcoming loans, capital loss, capital replacement, payment or amount disbursed as capital.
- Transactions between related businesses or partners.
- Research and development expenses, expenses related to the normal operation of the business, and applicable sales taxes in Quebec.
- Investments in businesses engaged solely in subcontracting or privatization of operations resulting in the displacement of economic activities and jobs.
Eligible geographic areas
- Province of Quebec
- Québec agglomeration
Activities funded
- Entrepreneurial succession project aimed at transferring the management and ownership of a business from a transferor to an entrepreneur or a group of entrepreneurs.
How to apply
- Contact the team before submitting an application.
Selection criteria
- Economic viability of the funded business.
- Knowledge and experience of the promoters.
- Environmental and societal benefits.
- Openness toward workers.
- Subcontracting, privatization of operations, and participation of other financial partners.
Processing and Agreement
- The City reserves the right to refuse to grant financial assistance or to stop paying it if the applicant or beneficiary does not meet the high integrity standards expected of a recipient of public funds.
Contacts
Frequently Asked Questions about the Quebec City — Business Loans — Business Succession Program
What is the Quebec City — Business Loans — Business Succession?
Entrepreneurial Succession is a City of Québec loan of up to 300 000 $ for entrepreneurs or groups of entrepreneurs who take over a business, in the Québec agglomeration, to support the transfer of management and ownership. It finances the acquisition of shares or assets and professional fees related to the transaction.
How much funding can be received?
Quebec City — Business Loans — Business Succession Funds up to $300,000 of admissible expenses.
What is the deadline to apply?
The program is accepting continuous intake
Who is eligible for the Quebec City — Business Loans — Business Succession program?
To be eligible for the Quebec City — Business Loans — Business Succession program, you must:
The project must aim to transfer the management and ownership of an existing business.
The applicant must be an entrepreneur or a group of entrepreneurs.
The applicant must acquire at least 25 % of the value of the business or the fair value of its assets.
What expenses are eligible under Quebec City — Business Loans — Business Succession?
Acquisition of ownership securities in the target business, namely voting shares or units, as well as the target business's assets.
Professional fees strictly and directly related to the transaction, the acquisition of the business, and the transfer of its management.
Who can I contact for more information about the Quebec City — Business Loans — Business Succession?
You can contact Quebec City by email at degp@ville.quebec.qc.ca.
Where is the Quebec City — Business Loans — Business Succession available?
The Quebec City — Business Loans — Business Succession program is available the province of Quebec.