Quebec Business Transfer Fund
$1,000,000.00
Loan
Description:
The Quebec Business Transfer Fund is intended for new entrepreneurs wishing to start a business by offering financial support adapted to business transfer situations. This new fund – created to promote the retention and continuity of existing businesses in Quebec – enables resales to obtain financing on favorable terms.
Comments on Funding:
The Quebec Business Transfer Fund may provide the successor with a term loan equivalent to two dollars for every dollar invested by the acquirer in equity, subject to a minimum of $50,000 and a maximum of $500,000. In the case where multiple successors join together to proceed with the acquisition of a business, a maximum amount of $1,000,000 could be allocated.
Continuous Intake
Eligibility:
Applicants must:
1. be new entrepreneurs wishing to start a business;
2. be Quebec companies that meet these criteria:
a) any corporation or limited partnership, private or public, with a net worth of less than 50 million dollars or tangible net assets of less than 100 million dollars;
b) operating in Quebec; and
c) with the majority of employees residing in Quebec.
3. be coming from all sectors of activity are eligible, except for real estate sectors and transactions involving the acquisition of agricultural land.
4. commit working full-time within the targeted company and to contribute a minimum equity investment of $50,000.
Application Steps:
For more information, applicants must contact PARTNERS.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
The Quebec Business Transfer Fund is a limited partnership formed under the laws of Quebec and whose funds are managed by Investissement Quebec.
About the author
Maurice
