MRC Rivière-du-Loup — Succession Fund
grant_single|update January 24, 2025
Rivière-du-Loup, QC
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|openingDate September 1, 2023
- grant_single|closingDate December 31, 2023
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|closed
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|terms_and_conditions
The MRC Rivière-du-Loup Succession Fund provides significant financial support to assist successors in acquiring and managing businesses. The financing modalities are designed to encourage successful succession planning through various forms of financial support.
- Non-repayable financial aid of up to 5% of the project's cost or a maximum of $15,000, whichever is less.
- Mandatory linkage with two other forms of reimbursable aid from the CLD: the FLI Relève interest-free loans and the regular FLI/FLS loans.
grant_single_labels|projects
The MRC Rivière-du-Loup — Succession Fund provides critical financial support for business succession projects. Eligible projects involve activities related to the acquisition and transition of business ownership and direction, ensuring a smooth transfer of at least 25% of the business's value or its assets.
- Acquisition of existing business shares or assets for the purpose of succession.
- Activities aimed at ensuring a successful transition in business leadership within the MRC Rivière-du-Loup region.
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 is available to businesses that are located within a specified geographical area as determined by the grant administrator. Companies eligible for this grant must align with the regional objectives set by the MRC Rivière-du-Loup.
- Businesses operating within the territory of the MRC Rivière-du-Loup.
grant_single_labels|apply
1
Consultation of the Investment Policy
- Visit the CLD website at the given address to access the Investment Policy of the Relève Fund.
- Review the specific conditions and eligibility criteria.
2
Initial contact
- Contact an advisor from the CLD to discuss the project and check eligibility.
- Obtain advice on the required formulations and necessary procedures.
3
Preparation of the request
- Prepare a request file containing the details of the business takeover project.
- Include financial information and any other required supporting documents.
4
Joint application for FLI Relief loans and regular FLI/FLS loans
At the same time, prepare the requests for the two other forms of aid: interest-free FLI Relève loans and regular FLI/FLS.
5
Submission of the application
- Submit the complete application to the CLD of Rivière-du-Loup at the provided address or through another channel indicated by the advisor.
- Ensure that all required forms and documents are included and correctly filled out.
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