MRC Témiscamingue — Business Succession Loan

Q: How much funding can be received?

MRC Témiscamingue — Business Succession Loan Funds up to 20% of admissible expenses, capped at $150000 per project.

Q: What is the deadline to apply?

The deadline to apply is 2032-06-01T00:00:00Z.

Q: Is the MRC Témiscamingue — Business Succession Loan a grant, loan, or tax credit?

MRC Témiscamingue — Business Succession Loan is a Loans and Capital investments

Q: Who are the financial supporters of the MRC Témiscamingue — Business Succession Loan?

MRC Témiscamingue — Business Succession Loan is funded by MRC Témiscamingue

Q: Who can I contact for more information about the MRC Témiscamingue — Business Succession Loan?

You can contact MRC Témiscamingue.

Q: Where is the MRC Témiscamingue — Business Succession Loan available?

The MRC Témiscamingue — Business Succession Loan program is available the province of QC.

Q: Are youth (under 40) eligible for the MRC Témiscamingue — Business Succession Loan program?

Yes, youth under 40 are eligible to apply for the MRC Témiscamingue — Business Succession Loan program.

Last Update: July 22, 2025

Témiscamingue, QC

Flexible financial aid for business start-up and development

At a glance

Eligible Funding

From $5,000 to $150,000
Up to 20% of project cost

Timeline

Closing date : June 1, 2032

Financing Type

Loans and Capital investments

Eligible Industries

Agriculture, forestry, fishing and hunting
Manufacturing

Funds Providers

Unspecified

Program status

Open

Overview

The grant provides flexible financial aid ranging from $5,000 to $150,000 to support the creation, acquisition, expansion, or modernization of a business, with an emphasis on job creation and retention. Eligible activities include entrepreneurship, strategic business transfers, and business expansion, particularly in sectors like transformation and primary agriculture and forestry.

Financing terms and conditions

This loan offers tailored financing options for entrepreneurs seeking to ensure smooth business succession and the retention of employment levels. The terms are designed to accommodate the financial needs of succession planning and execution.

Loan amounts range from $25,000 to $150,000, specifically aimed at facilitating business transfers.
Interest rates are based on the Bank of Canada's base rate plus a 2% premium, with the option for annual renewal.
The maximum loan duration is set at seven years, providing a balanced time frame for business adjustments post-transfer.
Loans can cover at least 25% of the purchase of a business’s shares or assets, aiding significant equity transitions.
Down payment requirements are considered with the promoter's commitment and the balance of sale price taken into account.

Activities funded

The Business Succession Loan grant aims to support the transfer, development, and continuation of businesses in the MRC Témiscamingue region. Eligible project activities particularly focus on entrepreneurial transitions, employment retention, and youth engagement in business acquisitions.

Support for the transfer and continuity of existing businesses to ensure job retention.
Financial assistance for youth aged 18 to 39 years to acquire stakes in businesses, fostering their involvement in entrepreneurship.
Support for projects that stimulate entrepreneurship and promote employment creation through business startups or expansions.
Investment in sectors such as secondary and tertiary processing, primary agriculture, and forestry.

Eligibility

Eligibility for this grant is determined by specific requirements related to the applicant's profile and proposed activities.

The applicant must be an enterprise, sole proprietorship, partnership, corporation, non-profit organization, or social economy organization.
Youths aged 18 to 39 years may apply for specific funding initiatives.
The business owner or entrepreneur should have sufficient equity or be actively involved in the project.
The business should not engage in sectors such as residential real estate, sex, religion, politics, or alcohol distribution.
The project should not result in the displacement of clientele from an existing business.

Who is eligible?

This grant offers financial support for entrepreneurs aiming to start, acquire, expand, or modernize their businesses. It includes a variety of loans designed to cater to different needs, such as young entrepreneurs, business succession, and local economic development.- Prêt Fonds d'investissement: Suitable for entrepreneurs looking to start, acquire, expand, or modernize their business with flexible financial assistance ranging from $5,000 to $150,000.- Prêt Stratégie jeunesse: Targeted at young entrepreneurs between 18 and 39, offering personal loans of $5,000 to $25,000 with the potential to finance two young entrepreneurs per enterprise.- Prêt Relève d'entreprise: Focuses on business succession to maintain employment, offering financial support from $25,000 to $150,000.- Prêt Fonds local d'investissement: Aims to stimulate entrepreneurship and job creation for start-up or business expansion projects with financial support from $5,000 to $150,000.- Prêt Aide aux jeunes: Supports young entrepreneurs aged 18 to 39 in acquiring up to 100% of an existing business, with loans from $5,000 to $25,000.

Who is not eligible

Certain companies and industries are not eligible for this grant due to their specific nature or activities that are not supported. The selection criteria aim to support sectors that align with the program's strategic priorities and avoid redundancy in services offered in a community.

Retail or service businesses starting in a community where the service already exists.
Residential real estate activities.
Sectors related to the sex industry, religion, politics, or alcohol distribution.

Eligible expenses

The grant allows for expenses related to entrepreneurship and business development projects.

Purchase of equipment, terrains, and buildings.
Initial investment capital for business setup.
Acquisition of business shares or equity for young entrepreneurs.
Working capital necessary for business operations.

Eligible geographic areas

The MRC Témiscamingue — Business Succession Loan is specifically available for businesses located within the Témiscamingue region. This geographic limitation is set to maintain employment and decision centers within the area.

Businesses located within the MRC of Témiscamingue.

Selection criteria

The evaluation and selection of projects for this grant prioritize the financial stability and potential job creation of the proposed business initiatives.

Rentability: Revenue projections must be sufficient to cover expenses and generate surplus.
Management Team: Evaluation of the knowledge, experience, training, and networks of the leadership team.
Repayment Capacity: Ability of the business to generate sufficient funds to cover all repayments of principal and interest on loans.
Debt Ratio: Ideally, it should be less than 80% to ensure financial stability.
Value of Guarantees and Warranties: Assessment of the assets pledged as security for the loan.
Job Creation and Retention: Projects must demonstrate potential for job creation and maintenance.

How to apply

Project Preparation

Assess the needs of the business and determine the project's objectives.
Write a detailed business plan including financial forecasts.
Prepare documentation explaining how the funding will be used.

Search for funding

Identify the types of loans or funding that correspond to the project (Investment funds, Youth strategy, etc.).
Check the eligibility criteria for each chosen funding option.

Consultation with the support service

Contact the support team for personalized advice.
Evaluate the recommendations to optimize the grant application.

Preparation of the request

Fill out the required forms for the chosen loan or grant.
Compile all supporting documents such as the business plan, financial statements, etc.

Submission of the request

Send the completed application and all documents to the appropriate authority.
Ensure that the submission is made before the specified deadlines.

Follow-up on the request

Receive a confirmation notice of receipt of the request.
Follow the organization's communications for questions or additional information.

Additional information

Here are additional relevant details for this grant:

The loans offered have a maximum duration of 10 years, except for the "Relève d'entreprise" loan, which has a maximum duration of 7 years.
A grace period for interest payments of up to 24 months is available on certain loans following the initial disbursement.
Loans cannot be used to repay existing debts.
There is an application fee of 1% of the loan amount, with a minimum of $100.
The interest rate is based on the Bank of Canada's business loan base rate, plus a risk premium.
Specific focus is given to youth applicants aged 18 to 39 for certain programs, with particular stipulations on the percentage of business ownership needed.

Apply to this program

Frequently Asked Questions about the MRC Témiscamingue — Business Succession Loan Program

Here are answers to the most common questions about the MRC Témiscamingue — Business Succession Loan. 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 Témiscamingue — Business Succession Loan?

How much funding can be received?

What is the deadline to apply?

Is the MRC Témiscamingue — Business Succession Loan a grant, loan, or tax credit?

Who are the financial supporters of the MRC Témiscamingue — Business Succession Loan?

Who is eligible for the MRC Témiscamingue — Business Succession Loan program?

To be eligible for the MRC Témiscamingue — Business Succession Loan program, you must: Eligible applicants include sole proprietorships, partnerships, corporations, non-profit organizations, and social economy organizations. The project must demonstrate financial viability with planned revenues covering expenses while generating profits. The business leadership team must have relevant knowledge, experience, and adequate networks.