Our
programs
Business Transfer Support Fund (BTSF)
To ensure the retention of businesses, to maintain economic activities on its territory and to support the transfer of businesses, DEV launches the Business Transfer Support Fund (BTSF), a regional assistance fund targeting businesses in Vaudreuil-Soulanges.
The program aims to facilitate the business transfer process, for both sellers and buyers, through non-refundable assistance (evaluation, validation, expert opinion) and financing at preferential conditions.
Information
Targeted companies
- Retail stores
- Restaurants and food services
- Industrial companies
- Service companies
Source of funds
- Loan: Local Investment Funds (FLI)
- Non-refundable assistance: DEV Budget
For Buyers
- Loans from $25,000 to $150,000
- Annual financing rate of 2% to 4%, depending on risk level
- 60 to 72 month amortization
- 12-month capital moratorium
- Eligible expenses from $5,000 to $10,000
- Non-refundable assistance (professional fees grant): 50% of eligible expenses up to a maximum of $5,000, until funds are exhausted
- No set-up or annual renewal fees
Eligible Expenses
- Independent opinion on a valuation report submitted to the transferee by the transferor.
- Opinion or legal drafting of any document related to a potential transfer transaction (e.g.: Letter of intent, promise to purchase, promise to sell, etc.)
Requirements
- The business to be transferred must have been in operation for more than five years on the territory of the MRC of Vaudreuil-Soulanges and be in good financial standing.
- Companies eligible under this program must have annual sales of over $500,000 or more than 5 permanent employees (including shareholders).
- Change of control of the business (more than 51% of the shares).
- Disbursement payable upon presentation of professional fees from members in good standing of a recognized professional order.
- The submission of certain supporting documents may be required, including studies or evaluations made by professionals.
Limitations
- DEV reserves the right to exclude or modify its eligibility criteria at any time, regardless of sector, based on its priorities.
Exclusion
Any professional fees that follow the acceptance of the offer to purchase until the closing of the transaction and post-transaction.
For Sellers
- Eligible expenses of $5,000 to $15,000 for an appraisal report on the value of the business for sale.
- Non-refundable assistance (professional fees grant): 50% maximum $7,500, until funds are exhausted.
To file an application, the entrepreneur will have to submit the one of the Application Forms below, along with all the required documentation, by email to ngagnon@developpementvs.com.
For any additional information, please contact us at 450 424-2262.
