A loan that facilitates entrepreneurial succession by supporting the acquisition of existing businesses.
Terms:
- Maximum loan of $25,000
- Loan term of 5 years with the possibility of an exceptional extension up to 7 years
- 0% interest for the first 24 months
- The interest rate is set at the prime rate + 2.0 to 3.0% at the beginning of the third year (minimum 5.0%)
- Possibility of a moratorium on principal repayment for a maximum of 3 months