Microcrédit Montréal - Loans for entrepreneurs
Montréal, QC, Canada
Microcredit for Quebec entrepreneurs
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
grant_single|deadlines
- grant_single|openingDateNovember 14, 2019
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Information and cultural industries
- Other services (except public administration)
grant_single|grantors
- MicroEntreprendre
grant_single|status
grant_card_status|open
grant_single_labels|preview
Quebec entrepreneurs who are unable to obtain financing in conventional financing networks can obtain loans of $2 000 to $20,000 and support.
grant_single_labels|terms_and_conditions
This grant provides various financing options to meet the diverse needs of entrepreneurs, from start-ups to business expansions. The funding modalities are designed to ensure ease of access and flexibility in financial management.
- Nano-loans not exceeding $2,000, available under certain conditions.
- Microcredit financing up to $20,000 for business start-up or development purposes.
- Bridge loans to address temporary liquidity deficits, supporting non-profits while awaiting core funding.
- Start-up loans with zero or affordable interest rates without the requirement for collateral or guarantees, contingent on the viability of the business.
- Flexible eligibility that includes options for those without access to traditional financial services.
grant_single_labels|projects
This grant supports entrepreneurs in Quebec by providing various forms of financial assistance and development resources. Eligible projects include those that focus on starting, developing, or consolidating a business.
- Starting a new business venture with the support of a business plan.
- Developing an existing business to enhance operations or enter new markets.
- Consolidating business activities to ensure sustainability and efficiency.
- Participation in tailored training programs to enhance entrepreneurial skills.
- Engagement in workshops to develop management and administrative capabilities.
grant_single|admissibleProjectsExample
$ 15,000
Establishing a community garden focusing on urban agriculture education
$ 16,000
Starting a mobile pet grooming service using eco-friendly products
$ 18,000
Opening a specialty coffee shop, focusing on sustainable and fair-trade products
$ 18,000
Opening a zero-waste grocery store to promote sustainable living
$ 18,000
Launching an online platform for local artisans to sell handmade goods
$ 20,000
Developing a mobile app for mental health tracking
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements that must be met by the entrepreneur or their project.
- The applicant must be aged 18 years or older.
- The applicant must not have access to traditional financial services or credit.
- The applicant must have a business idea or project.
- The applicant must attend an initial information or welcoming session.
- The applicant must accept the local support offered by MicroEntreprendre members.
grant_eligibility_criteria|who_can_apply
Individuals aged 18 and over who lack access to conventional financial services or credit and have a business idea or project can apply. Applicants must also attend an introductory meeting and agree to the proximity support offered by MicroEntreprendre members.
grant_eligibility_criteria|eligible_expenses
The grant supports various activities aimed at assisting aspiring and current entrepreneurs in Quebec. It focuses on providing training, financial support, and mentorship to aid in the successful launch and development of business ventures.
- Individualized monitoring and technical support for business setup and overcoming operational challenges.
- Development of a formal business plan with guidance from microcredit advisors.
- Participation in individual or group workshops to enhance management skills.
- Access to educational programs covering communication, marketing, administration, and management.
- Personalized coaching tailored to the entrepreneur's individual needs.
- Opportunities for networking through training and social events.
- Mentorship from experienced entrepreneurs to share knowledge and insights.
- Flexible microcredit financing options for business projects, including nano-loans and bridge loans.
- Zero or low-interest personal loans for startup entrepreneurs based on business viability.
grant_eligibility_criteria|zone
This grant is accessible to entrepreneurs in the 17 regions of Québec supported by MicroEntreprendre's mobilized organizations. The geographical areas are defined to enhance entrepreneurial development across these areas.
- Regions within Québec served by MicroEntreprendre.
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. Applicants must:
- Be 18 years old or older
- Not have access to traditional financial services or credit
- Have a business idea or project
- Attend an orientation or information session
- Accept the close support offered by MicroEntreprendre members
grant_single_labels|register
Here are the steps to submit an application for this microcredit:
- Step 1: Attend an Information Session
- Participate in an initial welcome or information meeting to learn about the microcredit program.
- Understand the requirements and benefits of the microcredit available.
- Step 2: Prepare Your Application
- Develop a comprehensive business plan outlining your business idea and financial projections.
- Compile additional necessary documents such as budget forecasts and personal financial information.
- Step 3: Submit Your Application
- Submit your complete application package to the local microcredit organization along with your business plan and budget.
- Ensure all documentation is accurate and reflects your business goals.
- Step 4: Presentation to Loan Committee
- Your application will be reviewed and presented to the loan committee for approval.
- Be prepared to clarify or provide additional information if requested.
- Step 5: Loan Granting and Close Support
- Receive notification of loan approval or feedback if adjustments are needed.
- Engage in ongoing close support during the repayment period to ensure business success.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The grant is designed to support entrepreneurs who may not have access to conventional financing sources.
- Applicants are encouraged to contact a regional organization to understand specific benefits and opportunities available to them.
- The offered support includes both financial assistance through microcredit and comprehensive entrepreneurship guidance.
- MicroEntreprendre's network includes volunteers who assist with operational setups and addressing specific technical challenges.
- Coaching and mentorship are integral parts of the support, aimed at providing personalized advice tailored to individual entrepreneurial needs.
Apply to this program
Empowering Entrepreneurs in Quebec with Tailored Financing Solutions
This grant initiative offers microcredit financing and comprehensive support services to aspiring entrepreneurs across Quebec. By providing flexible loans, the program facilitates the growth and development of small businesses, even for those unable to access traditional financial services.
Detailed Overview of the Microcredit Grant for Quebec Entrepreneurs
Across the 17 regions of Quebec, a network of 20 dedicated organizations is devoted to empowering aspiring entrepreneurs through a unique blend of training, close-proximity support, and microcredit financing. This grant initiative is specifically designed to cater to individuals who often find themselves excluded from mainstream financial systems, providing them with the necessary tools to embark on their entrepreneurial journey.
The primary aim of this program is to foster the successful launch and growth of new enterprises by facilitating access to financial resources that are both flexible and affordable. Through products like the Nano-Loan, Microloan, and Bridge Loan, entrepreneurs can secure tailored financial solutions that align with the scale and scope of their ventures. The Nano-Loan, not exceeding $2,000, is aimed at addressing immediate, small-scale financial needs, while the Microloan offers up to $20,000 for broader business development goals. On the other hand, the Bridge Loan supports temporary liquidity needs, ensuring continuous operation even amidst cash flow challenges.
Entrepreneurs engaging with this program are not just recipients of financial aid but are also enveloped in a robust support system. Each participant benefits from individual follow-ups facilitated by volunteers who offer guidance on how to navigate the complexities of starting a business. Meanwhile, workshop sessions provide collective opportunities to hone management skills essential for sustaining and expanding enterprises.
Moreover, the preparation of a meticulously detailed business plan becomes a reality with the assistance of consultants who provide expertise in crafting these foundational documents. These plans serve as navigational instruments, outlining the strategic and operational pathways necessary for achieving defined business objectives. Additionally, through mentorship, entrepreneurs can gain insights from experienced professionals who have walked similar paths, circumventing potential pitfalls associated with the early stages of business formation.
Networking opportunities further enhance the potentials within this program. Events and training sessions create spaces where entrepreneurs can connect with peers and industry experts, fostering a supportive community dedicated to mutual growth and learning. This is designed to ensure that the process of business development is not insular but rather enriched by shared experiences and collective wisdom.
Overall, the flexibility, comprehensiveness, and inclusivity of this grant initiative empower Quebec's entrepreneurs to realize their visions, overcome barriers, and contribute positively to their local economies. By supporting individuals who lack access to traditional financial services, the grant not only promotes economic inclusiveness but also strengthens the entrepreneurial ecosystem throughout the province. As these new enterprises take root and flourish, they are positioned to drive innovation and create sustainable employment opportunities, paving the way for a vibrant and diversified economic landscape in Quebec.
