SADC Shawinigan — Transfer Strategy Fund
Last Update: January 24, 2025
Shawinigan, QC
Business Transfer Fund offers loans for company ownership transitions
SADC Shawinigan — Transfer Strategy Fund at a glance
Eligible Funding
- From 10,000 to 50,000
Timeline
- Continuous Intakes
Financing Type
Loans and Capital investments
Eligible Industries
- All industries
Grant Providers
- SADC Shawinigan
Status
Open
Overview of the SADC Shawinigan — Transfer Strategy Fund program
The Fonds Stratégie Transfert offers financial assistance in the form of loans up to a maximum of $50,000 to support entrepreneurs in business transfer projects. Eligible activities must take place in Shawinigan and demonstrate long-term economic viability and a potential market.
Financing terms and conditions
The SADC Shawinigan — Transfer Strategy Fund provides flexible financing options to aid entrepreneurs with business transfer projects. These options are designed to optimize financial support while accommodating the unique aspects of each project.
- Loan amounts range from a minimum of $10,000 to a maximum of $50,000.
- Interest-free period for the first two years of the loan term.
- Principal repayment moratorium for the first three months.
- Interest rates are set based on the Bank of Canada’s prime rate, with specific adjustments depending on the project.
Eligibility criteria of the SADC Shawinigan — Transfer Strategy Fund program
The eligibility criteria for the Fonds Stratégie Transfert are designed to ensure that applicants have a viable business plan and a strong presence in the Shawinigan area.
- The project must involve a business transfer operation located in Shawinigan.
- There must be a demonstration of long-term economic viability for the business.
- The applicant should have relevant knowledge and experience in their field.
- Applicants must have engaged in discussions with a financial institution.
- A potential market for the business must be demonstrated.
- The business must have fewer than 200 employees.
Eligible geographic areas
This grant is targeted towards businesses conducting operations specifically in the Shawinigan area. The eligibility is based on geographical proximity to enhance local business continuity and support.
- Businesses operating within Shawinigan, Quebec.
How to apply to the SADC Shawinigan — Transfer Strategy Fund program
1
Verification of criteria
- Propose a business transfer project to Shawinigan.
- Check if your company has fewer than 200 employees.
- Ensure that steps have been taken with a financial institution.
2
Preparation of the documentation
- Ensure the long-term economic viability of the business.
- Demonstrate relevant knowledge and experience in the field.
- Provide evidence of the existence of a potential market.
- Gather all required documents for analysis.
3
Fill out the online application
Download and fill out the online funding application form.
4
Submit the request
Submit the application form and all required documents electronically via the organization's portal.
5
Submission Confirmation
Check for the receipt of a confirmation email for your request.
Additional information
Here are additional relevant details for this grant:
- Interest holiday is offered for the first two years, with a capital repayment moratorium for the first three months.
- The interest rate is based on the Bank of Canada's prime rate, with an additional margin determined by the project specificities.
- An accelerated processing option is available for existing businesses requesting $50,000 or less, subject to certain conditions, generally within two weeks.