How much funding can be received?

Funds up to 50% of admissible expenses, capped at $15000 per project.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the MRC Rivière-du-Loup — Business Succession?

MRC Rivière-du-Loup — Business Succession is funded by MRC Rivière-du-Loup

What are MRC Rivière-du-Loup — Business Succession's eligibility criterias?

The business must be legally constituted under Quebec or Canadian laws, with an establishment in Quebec. The entrepreneur must have received financing from an FLI of the MRC or of a municipality acting as MRC. The project cannot receive similar public funding from multiple sources for the same purpose.

MRC Rivière-du-Loup — Business Succession

Last Update: May 13, 2025

QC, Canada

Support for business acquisition in Quebec regions

MRC Rivière-du-Loup — Business Succession at a glance

Eligible Funding

Max. $15,000
Up to 50% of project cost

Timeline

Continuous Intakes

Financing Type

Grant and Funding

Eligible Industries

All industries

Grant Providers

MRC Rivière-du-Loup

Status

Open

Overview of the MRC Rivière-du-Loup — Business Succession program

The MRC Rivière-du-Loup — Business Succession program provides up to $15,000 to entrepreneurs benefiting from a Local Investment Fund (FLI) loan to support the acquisition or transfer of businesses in Quebec. Eligible expenses include due diligence, the preparation of business transfer agreements, and professional fees for specialists such as accountants, lawyers, and HR experts.

Financing terms and conditions

Financial assistance covers up to 50% of eligible project costs.
Maximum funding amount is $15,000 per beneficiary, excluding taxes.
Expenses incurred prior to the application submission date are not eligible for reimbursement.

Eligible projects & activities

Acquisition or transfer of a legally constituted business in Quebec.
Business succession projects facilitated by entrepreneurs obtaining a loan from a Local Investment Fund (FLI).
Projects where entrepreneurs collaborate with professionals to ensure business transfer or succession.

Eligibility criteria of the MRC Rivière-du-Loup — Business Succession program

The applicant must be an entrepreneur who has obtained financing from a Local Investment Fund (FLI) from an MRC or a municipality exercising MRC powers.
The project must involve acquiring a business legally constituted under the laws of Quebec or Canada, with a location in Quebec.
If the applicant is not incorporated, they must be a Canadian citizen or permanent resident.
The professional engaged for business verifications must have relevant expertise in business succession projects.

Who is eligible?

Entrepreneurs seeking to acquire a legally constituted business in Quebec
Family members succeeding an existing business
Employees acquiring a business from current owners
External buyers, including groups involved in collective succession

Who is not eligible

Projects receiving similar public funding from other sources for the same initiative (no double funding for the same project).
Businesses not legally constituted under Quebec or Canadian law.
Applicants who engaged professional services or incurred eligible expenses prior to submitting the grant application.

Eligible expenses

Professional fees for specialists such as accountants, lawyers, notaries, and human resources experts involved in business succession projects.
Costs for conducting due diligence to determine the fair market value of a business.
Expenses for preparing a business succession agreement (transfer agreement).

Eligible geographic areas

Businesses located in the territory of a regional county municipality (MRC) or a municipality exercising the powers of an MRC within Quebec.

Eligibility criteria of the MRC Rivière-du-Loup — Business Succession program

The acquired company must be legally constituted under the laws of Quebec or Canada and have an establishment in Quebec.
If the successor is not incorporated, they must be a Canadian citizen or permanent resident.
The successor must be connected to a project that has received FLI funding from the MRC or a municipality exercising MRC powers. Projects already benefiting from similar public funding will not be eligible for duplicate aid.
The professional providing business verification services must have specific expertise relevant to business succession projects.

How to apply to the MRC Rivière-du-Loup — Business Succession program

Confirm business acquisition eligibility

Ensure you have or are seeking financing from a Local Investment Fund (FLI) of an MRC or a municipality with MRC powers
Confirm your intention to acquire a legally constituted business in Quebec

Verify selection criteria compliance

Check that you meet selection criteria, such as citizenship or permanent residency and link to FLI financing
Ensure public funding is not being cumulated for the same project
Verify that the professional involved has relevant expertise for business succession

Prepare application materials

Gather supporting documentation, such as proof of FLI financing, business constitution documents, and any required professional credentials
Prepare to submit the funding application form before incurring eligible expenses

Submit application to MRC

Submit the completed application form and all required documentation to the appropriate MRC or municipal office

Await funding decision

Wait for confirmation or a response regarding the approval or refusal of your funding application

Additional information

The program is a new tool provided by the Fédération québécoise des municipalités to encourage entrepreneurial succession within its territories.
Only expenses incurred after submitting the financial aid application form are considered eligible.