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SADC Lac-St-Jean Ouest — Relève & transfert loan
QC, Canada
Financing for business acquisition and ownership transition
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- SADC Lac-St-Jean Ouest
grant_single|status
grant_card_status|open
grant_single_labels|preview
The SADC Lac-St-Jean Ouest — Relève & transfert loan program offers up to $150,000 to facilitate the acquisition of businesses undergoing transition or transfer. It aims to support business continuity and retention by providing advantageous financing conditions for acquiring a substantial share of an existing company.
grant_single_labels|terms_and_conditions
The SADC Lac-St-Jean Ouest – Relève & transfert loan offers advantageous financing terms to support the acquisition of businesses undergoing succession or transfer. This initiative is structured to encourage the retention and continuity of existing enterprises in the region.
- Maximum loan amount of $150,000 per business involved in the transfer.
- Loan duration of up to 10 years, secured by a personal guarantee.
- Requirement to acquire 50% or more of the business shares.
- Favourable interest rates.
- Possibility of a 12-month moratorium on principal repayment.
- Minimum personal equity investment of at least 5% of the total acquisition cost.
- Progressive acquisition with a minimum of 25% of shares may be eligible.
grant_single_labels|projects
grant_single|admissibleProjectsExample
$ 50,000
Develop a sustainable urban farming project in the community
$ 30,000
Launch a local artisan market to support small businesses
$ 100,000
Create a community wellness center focused on mental health
$ 150,000
Establish a renewable energy training facility
$ 45,000
Start a mobile tech repair service targeting rural areas
$ 75,000
Implement a youth coding and entrepreneurship program
grant_single_labels|admissibility
Eligibility for the SADC Lac-St-Jean Ouest — Relève & transfert loan is determined by specific conditions related to the business acquisition process.
- The purchaser must acquire 50% or more of the business shares.
- A minimum personal contribution of 5% of the total acquisition project cost is required from the purchaser.
- A progressive acquisition with at least 25% of the business shares may qualify.
grant_eligibility_criteria|who_can_apply
This grant is targeted at individuals acquiring a business in the process of succession or transfer. Applicants must be acquiring at least 50% of the business shares, or a minimum of 25% if it's a progressive acquisition. Additionally, the purchaser must provide a personal guarantee and contribute at least 5% of the total acquisition cost.
grant_single_labels|register
Here are the steps to submit an application for this loan:
- Step 1: Initial Inquiry
- Contact SADC Lac-St-Jean Ouest to express interest in the Relève & transfert loan.
- Discuss eligibility criteria and funding terms with a representative.
- Step 2: Prepare Documentation
- Gather necessary financial documents and business acquisition details.
- Ensure documentation aligns with eligibility requirements for the loan.
- Step 3: Submit Application
- Complete the loan application form provided by SADC Lac-St-Jean Ouest.
- Submit the application along with all required documents to SADC Lac-St-Jean Ouest, either electronically or in person.
- Step 4: Application Review
- SADC Lac-St-Jean Ouest reviews your application for completeness and eligibility.
- Prepare for potential interviews or additional requests for information.
- Step 5: Receive Decision
- Await a decision from SADC Lac-St-Jean Ouest regarding your loan application.
- Review loan agreement terms if approved.
grant_single_labels|otherInfo
Here are additional relevant details for this loan:
- The loan must be secured by a personal guarantee.
- A minimum down payment of 5% of the total acquisition cost is required from the acquirer.
- A moratorium of up to twelve months on principal repayment is available.
- An option for a gradual acquisition, starting with a minimum of 25% of business shares, may be eligible.
- Personalized support and rigorous monitoring by SADC professionals are provided throughout the loan term.
