Fonds Local D’investissement (FLI): Composante de relève (Local Investment Fund: Succession Component)

By mmuise
Description:

FLI provides financial assistance to new and existing businesses in order to create and maintain jobs on the territory of the MRC de La Haute-Yamaska. This component is intended for any entrepreneur or group of entrepreneurs wishing to acquire an interest of at least 25% of the value of an existing business or 25% of the fair value of its assets in order to take over the business. transferring management and ownership of a business from a transfer or to an entrepreneur or group of entrepreneurs. A succession plan must demonstrate that the business will be transferred within the next 5 to 10 years.


Comments on Funding:

Funding takes the form of a loan of up $25,000 per company.
The maximum total value of FLI financial assistance granted to the same beneficiary at any time within a twelve-month period cannot exceed $150,000.
The repayment period of the loan (principal and interest) will be determined based on the project, the amount borrowed, and the company's ability to pay, but cannot exceed five (5) years. The following terms will apply:
- Loan of less than $10,000: a maximum of three (3) years;
- Loan from $10,001 to $50,000: a maximum of five (5) years.

Deadline: Continuous Intake
Eligibility:

The applicant must:

  • be any individual or group wishing to acquire a significant ownership stake of at least 25% of the value of an existing company or the fair value of its assets in order to take over.
  • be located on the territory of the MRC de La Haute-Yamaska and registered with the Registraire des entreprises du Québec (REQ)
Application Steps:

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Documentation Needed:

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Other Things to Note:

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About the author
mmuise