When the capital required for a project is not readily available, the fresh start after 40 financing program offers financial assistance in the form of a personal or business loan to help with a business acquisition, start-up or succession.

Free of charge, you can speak to an advisor who will analyze your situation and make the best recommendation to optimize your financing structure.

Fresh start after 40 financing program

The Centre d’aide aux entreprises Memphrémagog Inc. offers fresh start after 40 financing, which consists of financial assistance in the form of a personal loan and/or business loan, combined with personalized guidance from one of our advisors.

Financial assistance to :

  • Start a business;
  • Acquire or take over an existing business;
  • Acquire an interest in an existing business.

Financial assistance in the form of a personal loan established according to the following terms :

  1. From $10,000 to $30,000;
  2. A moratorium on interest is possible for the first twelve (12) months;
  3. A capital moratorium for the first twelve (12) months;
  4. A target amortization period of six (6) years, with no payments in the first year, if the interest moratorium option is selected;
  5. No security other than a personal guarantee.

Affordable financial assistance :

  • No file analysis fees;
  • Assistance fees from the 2nd year only;
  • Free early repayment;
  • Attractive interest rates.

Eligibility criteria

The entrepreneur must :

  • Be 40 years of age or above;
  • Have their business located within the MRC Memphrémagog;
  • Be the majority owner or a majority shareholder of the business, and possess decision-making power alone or jointly with other entrepreneurs;
  • Other criteria may apply depending on the investment policy in effect.
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