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.

At a glance

Funding available

Financing goals

Renovate your business/factory

Eligible Funding

Maximum amount : 15,000 $
Up to 5% of project cost

Timeline

Open Date : September 1, 2023
Closing date : December 31, 2023

Eligible candidates

Eligible Industries

All industries

Location

Rivière-du-Loup
Riviere-du-Loup
Bas-Saint-Laurent
Quebec

Legal structures

For-profit business

Annual revenue

All revenue ranges

Organisation size

All organization sizes

Audience

Rural or Northern Residents

Activities funded

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.

Eligibility

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.

Who is eligible?

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.

Eligible geographic areas

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.

How to apply

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.

Initial contact

Contact an advisor from the CLD to discuss the project and check eligibility.
Obtain advice on the required formulations and necessary procedures.

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.

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.

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.

Additional information

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.

Contacts

infos@cldrdl.com

Apply to this program

Frequently Asked Questions about the MRC Rivière-du-Loup — Succession Fund Program

Here are answers to the most common questions about the MRC Rivière-du-Loup — Succession Fund. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.

What is the MRC Rivière-du-Loup — Succession Fund?

How much funding can be received?

What is the deadline to apply?

Who is eligible for the MRC Rivière-du-Loup — Succession Fund program?

To be eligible for the MRC Rivière-du-Loup — Succession Fund program, you must: The promoter(s) must be undertaking a plan to transfer both the management and ownership of an enterprise located within the MRC of Rivière-du-Loup. An acquisition of at least 25% of the value of the existing business or its assets is required to assume succession. The financial assistance must be linked to two other forms of repayable aid from CLD, including the interest-free FLI Relève loans and the regular FLI/FLS loans.

What expenses are eligible under MRC Rivière-du-Loup — Succession Fund?

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.