Closed
MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream
Support for business succession and acquisition projects
Offered by
MRC La Vallée-de-l'Or (MRCVO)
Record updated
- Funding available
- $ 50,000
- Up to 50% of project cost
- Deadline
- Unspecified
- Location
- Quebec, Canada
Overview
This program supports business succession and acquisition projects in the MRC de la Vallée-de-l'Or. Funding can reach up to $25,000 for succession projects and up to $50,000 for acquisition projects.
At a glance
Funding available
- Maximum funding
- $50,000
- Maximum share of project costs
- 50%
- Complete an acquisition or business transfer
Eligible candidates
- Location
- La Vallée-de-l’Or
- Abitibi-Témiscamingue
- Quebec
- Eligible Industries
- All industries
- Annual revenue
- All revenue ranges
- Organisation size
- All organization sizes
- Audience
- Newcomers to Canada
- Canadians
- Legal structures
- For-profit business
Receipt of requests is now closed
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Availability timeline
2024
Periods: 1
Eligibility
Who is eligible?
- Entrepreneurs or groups of entrepreneurs.
Eligible expenses
- Purchase of business shares or ownership interests.
- Professional fees directly related to the acquisition transaction.
- Purchase of business assets, excluding goodwill.
Ineligible Costs and Activities
- Goodwill expenses.
- Transactions completed before the official application is received by the MRC.
- Simple business buyouts that do not involve the required ownership transfer.
Eligible geographic areas
- MRC de la Vallée-de-l'Or
Activities funded
- Business succession projects involving the transfer of ownership and management.
- Business acquisition projects involving the purchase of all shares or assets of a business.
Documents Needed
- Agreement between the entrepreneurs and the current owners for succession projects.
- Documents proving at least 25% ownership for succession projects.
- Documents proving 100% ownership for acquisition projects.
Processing and Agreement
- The project is reviewed by the MRC before financing is granted.
- Approved projects require an agreement between the MRC and the entrepreneurs.
- Funding is released only after the required ownership documents are provided.
Additional information
- The financing period can run from 1 to 7 years.
- The loan may include a principal payment holiday for the first year.
- Early repayment is allowed at any time without penalty.
- The loan must be guaranteed by the entrepreneurs.
Contacts
Frequently Asked Questions about the MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream Program
What is the MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream?
This program supports business succession and acquisition projects in the MRC de la Vallée-de-l'Or. Funding can reach up to $25,000 for succession projects and up to $50,000 for acquisition projects.
How much funding can be received?
MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream Funds up to 50% of admissible expenses, capped at $50,000 per project.
Who is eligible for the MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream program?
To be eligible for the MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream program, you must:
Canadian citizen or Quebec permanent resident
18 years or older
Relevant experience or training
What expenses are eligible under MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream?
Purchase of business shares or ownership interests.
Professional fees directly related to the acquisition transaction.
Purchase of business assets, excluding goodwill.
Who can I contact for more information about the MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream?
You can contact MRC La Vallée-de-l'Or (MRCVO) or by phone at 8198257733.
Where is the MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream available?
The MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream program is available Abitibi-Témiscamingue, Quebec.
Is the MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream a grant, loan, or tax credit?
MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream is a Loans and Capital investments