MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream

Q: What is the deadline to apply?

The program is accepting continuous intake

Q: 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: • Applicants must be Canadian citizens or permanent residents of Quebec and over 18 years old. • Applicants must have relevant experience and/or training related to the project. • Applicants must commit to working full-time (minimum 35 hours per week) on the project.

Q: 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.

Q: 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 the province of QC.

Q: Are startups eligible for the MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream program?

Yes, startups are eligible to apply for the MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream program.

Last Update: July 22, 2025

QC, Canada

FLI program supports business ownership transition and acquisition

At a glance

Eligible Funding

Max. $250,000
Up to 15% of project cost

Timeline

Open Date : January 1, 2023
Closing date : December 31, 2023

Financing Type

Loans and Capital investments

Eligible Industries

All industries

Funds Providers

Unspecified

Program status

Closed

Overview

The Fonds local d’investissement (FLI) program aims to support business succession and acquisitions by financing up to $250,000, with a focus on maintaining the economic diversity in the MRC de la Vallée-de-l’Or region. Eligible activities include acquiring at least 25% of an existing business's shares or assets, or undertaking a complete acquisition.

Financing terms and conditions

The Local Investment Fund (FLI) — Succession Stream provides financial assistance to support business succession and acquisition projects, fostering economic diversity in the MRC La Vallée-de-l'Or. The fund offers interest-free loans with specific conditions to facilitate successful ownership transitions.

A maximum loan of $25,000 is available interest-free, with the possibility of a capital repayment holiday for the first year.
For acquisition projects, an additional loan amount of up to $25,000 may be granted at a 4% interest rate, annually, with a potential capital repayment holiday in the first year.
The total financial assistance from all governmental sources cannot exceed 50% of the eligible expenses.
The loan amount can reach up to 50% of the project's eligible expenses.
Entrepreneurs must provide a minimum of 15% of the total project costs as equity.
The loan is to be repaid in fixed monthly installments over a period of one to seven years.
The loan can be repaid in full or in part at any time without penalty.
Entrepreneurs must guarantee the loan personally.
Titel or asset acquisition must not occur before the official aid application submission.

Activities funded

This grant focuses on assisting entrepreneurs in acquiring or taking over existing businesses to sustain economic diversity in the MRC de la Vallée-de-l’Or region. Eligible projects include significant share acquisitions and business takeovers.

Acquisition of at least 25% of an existing company's shares or assets to facilitate a business succession.
Full acquisition of a business's shares or assets, excluding simple buyouts.

Eligibility

The company eligibility for this grant is determined by the criteria regarding ownership and acquisition activities.

The company must be involved in a project aiming for a significant acquisition, with at least 25% ownership of an existing business or its assets.
The project should focus on the transition of leadership and ownership from the current owner(s).
In the case of a full acquisition, the company must acquire 100% of the shares or assets of the business.
Companies involved in a simple buyout are not eligible.
The project must include eligible acquisition expenses such as purchasing company shares or assets, excluding goodwill expenses.

Who is eligible?

Eligible applicants include Canadian citizens or landed immigrants who are permanent residents of Quebec and are over 18 years old. Applicants must have relevant experience and/or training related to the project, commit to working full-time (minimum 35 hours per week), and invest a minimum of 15% as their own contribution towards the project.

Eligible expenses

The grant covers expenses directly related to the acquisition or transition of business ownership.

Expenses for the acquisition of ownership titles of the targeted business (voting shares or units).
Professional service fees directly related to the acquisition transaction.
Expenses related to the acquisition of assets of the targeted business, excluding goodwill expenses.

Eligible geographic areas

This fund is targeted at companies operating within the MRC de la Vallée-de-l'Or to support local economic diversity through business succession and acquisition projects.

Companies based in the MRC de la Vallée-de-l'Or region.

Selection criteria

The evaluation and selection of projects for this grant are based on qualitative criteria to ensure alignment with the established objectives.

• Alignment of the project with the objectives of business succession and acquisition.

• The entrepreneur’s ability to invest at least 15% of the total project costs.

• Economic viability of the project over the financing period.

• Commitment of the entrepreneur to work full-time in the business.

• Adequate documentation proving ownership of at least 25% of the business in the case of succession, or 100% in the case of acquisition.

• Potential impact on the local economic diversity of the MRC de la Vallée-de-l’Or.

How to apply

Verification of eligibility criteria

Make sure that you meet all eligibility criteria such as being a Canadian citizen or a permanent resident of Quebec.
Confirm that your project is eligible, whether for succession or acquisition of a business.

Preparation of the documentation

Prepare all relevant documents proving your ownership rights of the business (minimum 25% for succession and 100% for acquisition).
Gather the agreement binding the contractor to the current owner of the business, if it is a succession.
Compile eligible expenses and the capital contribution (minimum 15%).

Preparation of the proposal and the application form

Write a project proposal detailing the objectives and the impact of the project.
Fill out the application form including all required information about the project and finances.

Submission of the request

Contact a MRC advisor at 819 825-7733 or 819 874-4333 for further advice.
Send the complete application and supporting documents to the MRC before initiating any purchase transaction.

Additional information

Here are additional relevant details for the Fonds local d’investissement (FLI) grant:

The grant is offered as a loan, not a gift, and repayment is required under specified terms.
A loan is provided interest-free up to $25,000 for projects both under "relève" (succession) and "acquisition", with an additional amount subject to 4% interest for acquisitions.
A minimum personal investment of 15% of the project costs is mandatory.
Proposals can include a balance of sale price from the vendor as part of the personal investment if it's not repayable during the loan period.
Beneficiaries must work full-time in the business as a condition of receiving the grant.
In case of obligation default, the non-reimbursed part of the loan must be immediately repaid.
Upon approval, an agreement with the MRC is required, detailing ownership and operational fidelity to the project.
The financing term ranges from one to seven years, including any moratorium period if applicable.
The loan may be repaid early without penalty.
The entrepreneur(s) must guarantee the loan personally.
The initiative concludes on December 31, 2024, with potential extension.

Apply to this program

Frequently Asked Questions about the MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream Program

Here are answers to the most common questions about the MRC La Vallée-de-l'Or — Local Investment Fund FLI – Succession Stream. 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.