SADC Shawinigan — Transfer Strategy Fund
grant_single|update January 24, 2025
Shawinigan, QC
Business Transfer Fund offers loans for company ownership transitions
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- SADC Shawinigan
grant_single|status
grant_card_status|open
grant_single_labels|preview
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.
grant_single_labels|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.
grant_single_labels|admissibility
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.
grant_eligibility_criteria|zone
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.
grant_single_labels|apply
Here are the steps to submit an application for this grant:
- Step 1: Confirm Eligibility
- Ensure your project is a business transfer operating in the Shawinigan territory.
- Check the long-term economic viability of your business.
- Verify that your business has fewer than 200 employees.
- Step 2: Prepare Financial Information
- Draft a comprehensive business plan demonstrating your project's potential market.
- Outline your experience and knowledge in the relevant field.
- Provide evidence of steps taken with a financial institution.
- Step 3: Review Application Requirements
- Access the online application form provided by SADC Shawinigan.
- Review the printable version to familiarize yourself with the questions and documentation needed.
- Step 4: Complete the Application Form
- Fill out the online application form with the required details.
- Ensure accuracy in the information provided.
- Step 5: Submit Application
- Submit your completed application online.
- Wait for confirmation of receipt and retain any confirmation details for your records.
- Step 6: Follow Up
- Contact SADC Shawinigan if further information is required.
- Be prepared for a potential two-week review process for requests of $50,000 or less.
grant_single_labels|otherInfo
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.