MRC Rivière-du-Loup — Succession Fund
Rivière-du-Loup, QC, Canada
Capitalization support for business succession in Rivière-du-Loup
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateMarch 01, 2019
- grant_single|closingDateFebruary 28, 2023
- grant_single|grantStatusClosed
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- MRC Rivière-du-Loup
grant_single|status
grant_card_status|open
grant_single_labels|preview
The Fonds Relève grant provides non-repayable financial assistance up to the lesser of 5% of the project cost or $15,000 to support the succession of businesses by acquiring at least 25% ownership in existing enterprises within the MRC of Rivière-du-Loup. Eligible activities include the transition of management and ownership aimed at facilitating successful business succession with the mandatory combination of two other repayable aids from CLD, specifically the interest-free FLI Relève loans and the regular FLI/FLS.
grant_single_labels|projects
The grant supports initiatives related to business succession within the Rivière-du-Loup region. Eligible projects focus on acquiring a significant stake in an existing business to ensure its continued operation and leadership transition.
- Acquisition of at least 25% of the value of an existing business or its assets.
- Projects aimed at ensuring the smooth transmission of management and ownership within a local business.
- Financially viable plans involving the use of capital to leverage additional financing from other creditors.
grant_single_labels|admissibility
Eligibility for the Fonds Relève grant requires meeting specific criteria related to the business transition project and the applicant's commitment in the Rivière-du-Loup area.
- The applicant must be involved in a business transition project on the territory of the MRC de Rivière-du-Loup.
- The applicant or promoters must acquire at least 25% of the value of the existing business or its assets.
- The project must involve taking over the management and ownership of a business.
- The funding must be combined with two other forms of repayable support: the FLI Relève interest-free loans and the regular FLI/FLS loans.
grant_eligibility_criteria|who_can_apply
Eligible applicants for the Fonds Relève must be promoters involved in the transfer of management and ownership of a business within the territory of the MRC de Rivière-du-Loup. They must acquire at least a 25% stake in the existing company's value or its assets to take over the business.
grant_eligibility_criteria|zone
This grant targets companies involved in business transfer within specific regions to ensure effective support for local economic continuity. Eligible regions are specifically defined to match local economic investment policies.
- MRC de Rivière-du-Loup
grant_single_labels|register
- Step 1: Assess Eligibility
- Ensure that you are eligible by acquiring at least 25% of the business or its assets in Rivière-du-Loup.
- Step 2: Understand Funding Requirements
- Review the mandatory requirement to combine non-refundable aid with two other repayable aids from CLD: FLI Relève and FLI/FLS.
- Step 3: Gather Documents
- Prepare necessary documents including project costs, business plans, and proposed acquisition documents.
- Step 4: Consult Investment Policy
- Visit www.cldriviereduloup.com to consult the Fonds Relève investment policy.
- Step 5: Contact a CLD Advisor
- Reach out to a CLD advisor at 418 862-1823 or infos@cldrdl.com for guidance and inquiries.
- Step 6: Compile Application
- Include all completed forms and supporting documents in your application package.
- Step 7: Submit Application
- Submit your application in person or via mail to 310, Saint-Pierre, local RC-01, Rivière-du-Loup, Québec, G5R 3V3.
- Step 8: Await Confirmation
- Wait for confirmation or response from the CLD.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The grant amount is determined as the lesser of 5% of the project cost or $15,000.
- The financial assistance from the grant must be complemented by two other forms of repayable assistance from the CLD, specifically the interest-free FLI Relève loans, and the regular FLI/FLS loans.
- This grant aims to support business succession, notably the transfer of management and ownership by acquiring at least 25% of the existing business’s value or its assets.
grant_single_labels|contact
infos@cldrdl.com
418
Apply to this program
Boosting Your Succession Plan with Fonds Relève
The Fonds Relève grant provides crucial financial support to entrepreneurs aiming to succeed an existing business within the MRC of Rivière-du-Loup area. This initiative ensures that new business leaders have the necessary capital and financial leverage needed for a smooth transition of management and ownership.
Detailed Insights Into the Fonds Relève Grant
The Fonds Relève is an essential financial resource aimed at facilitating the succession of businesses in the MRC of Rivière-du-Loup region. Designed to aid new owners or "repreneurs," this grant offers a unique blend of support that significantly lightens the financial burden often associated with taking over a business. By providing an injection of non-repayable funds, the grant acts as a catalyst, making it easier for new leadership to establish its position confidently within the chosen enterprise.
This grant is particularly strategic as it not only provides funds to bolster the succession process but also enhances the financial options available to the new management team. With a maximum aid equivalent to 5% of the project cost or up to $15,000, it delivers valuable liquidity that can be pivotal in securing additional financing from other creditors. This positioning can improve the overall terms of financing deals, attracting more favorable conditions or larger amounts from banks and financial institutions. Additionally, it complements two other repayable forms of aid offered by the CLD, making it an integrated support package tailored for successful business transition.
The mechanism of the grant is crafted to advance the Grand Région de Rivière-du-Loup's economic stability and cultivation of leadership renewal in the region's corporate landscape. For a business to qualify, entrepreneurs, the future leaders, must acquire a significant stake in the enterprise, ensuring that they are committed and substantially invested in its future. This requirement motivates a deepened connection and a solid plan for continuous growth and improvement under new management.
Committed to fostering economic resilience, Fonds Relève plays a crucial role in helping entrepreneurs overcome one of the most significant hurdles in business succession: capitalization. In many instances, accessing capital to fund the acquisition of a controlling interest in a company can be challenging. By ensuring access to necessary funds, this grant directly supports entrepreneurs in overcoming such financial barriers, making it feasible for them to achieve successful business ownership transition.
A key aspect of Fonds Relève is its structured requirement to pair with specified CLD financing programs. The integration with these programs not only helps facilitate succession but also encourages a comprehensive financial planning approach among grantees. This layered financial model benefits new leaders by equipping them with the flexibility and capital needed to invest in growth initiatives, workforce improvements, technological upgrades, or market expansion strategies.
Through Fonds Relève, new business proprietors can secure a distinct advantage in navigating the complexities of business acquisition and management. By alleviating the immediate financial pressures and complementing existing investment strategies, the fund nurtures emerging business leaders in their journey to sustaining and expanding their newly acquired enterprises. As a result, the grant plays a vital role not only in individual business transitions but also in the broader context of maintaining the vitality and vibrancy of Rivière-du-Loup's economic landscape.
As innovative policies continue to address the need for supporting growing entrepreneurs, Fonds Relève stands out as a stellar example of effectively aligning financial aid with regional development goals. Therefore, businesses looking to embark on the next chapter of their journey under new ownership are encouraged to thoroughly understand and leverage this impactful financial tool, making the most of the opportunities it presents for long-term success.
