PME MTL — Funds for Retail businesses
Last Update: January 24, 2025
Montréal, QC
Financing for Montreal-based retail startups
PME MTL — Funds for Retail businesses at a glance
Eligible Funding
- Max. $25,000
- Up to 80% of project cost
Timeline
- Open Date : April 12, 2021
Financing Type
Grant and Funding
Eligible Industries
- Retail trade
Grant Providers
- PME MTL
Status
Open
Overview of the PME MTL — Funds for Retail businesses program
Get a grant of up to $25,000 to cover up to 25% of the costs of a project that helps your startup (including food services and drinking places) grow.
Financing terms and conditions
This grant provides adaptable financing modalities to promote the growth and resilience of retail businesses, taking into account the unique aspects of each project. The modalities ensure a substantial portion of project costs can be covered while aligning with strategic objectives.
- Financial assistance of up to 80% of the total project cost.
- A maximum grant of $25,000 per 12-month period.
- Funding availability and assistance amount may vary between different territories.
Eligible projects & activities
This fund supports retail business projects that contribute to enhancing the commercial landscape by meeting market needs and supporting business sustainability. The eligible activities are tailored towards setting up new businesses, expanding existing operations, retaining businesses, and improving business resilience in retail environments.
- Setting up a new business that meets a commercial demand.
- Growth or development of existing commercial activities.
- Retention of a business on a commercial street.
- Development or adoption of a model to make the business more attractive and resilient.
Examples of admissible projects:
$ 5,000
Expanding café seating and menu to meet growing customer demand and improve service
$ 6,250
Adopting a renewable energy model to make a community center more resilient and sustainable
$ 6,250
Developing an e-commerce platform for local artisans to enhance business resilience
$ 3,750
Retaining a bookshop in a commercial street by creating a community events space
$ 15,000
Opening a new organic grocery store to meet local demand and provide fresh produce
$ 11,250
Launching a boutique fitness studio to meet increasing demand for specialized fitness classes
Eligibility criteria of the PME MTL — Funds for Retail businesses program
To be eligible for a grant from the Commercial Entrepreneurship Fund, specific criteria must be met by the business or its promoters.
- The applicant must be a Canadian citizen, permanent resident, or hold a Certificat de sélection du Québec (CSQ).
- The business must be legally constituted as a legal person or sole proprietorship and duly registered with the Registre des entreprises du Québec (REQ).
- The business must have its place of business in Montreal and its head office in Quebec.
- The business must have obtained the certificate of occupancy and any other permits required for its business project.
- There must be a sales area on the street where goods or services are sold to the public.
- The applicant must not be in debt to the government for amounts owed under tax laws.
- A business plan or project summary must be submitted.
- Financial forecasts covering at least two full financial years must be presented.
- A compilation of financial statements for the last two completed financial years (or the first financial year for companies less than two years old) must be presented.
- A strategic approach to sustainable development must be demonstrated, where applicable.
- The business must add value to the existing commercial offering.
- A capital outlay of at least 20% of the total cost of the project must be provided.
- The applicant must not have received a grant or other financial contribution from PME MTL for the same business project.
Who is eligible?
Applications will be evaluated based on their alignment with the objectives of diversifying and enhancing the commercial offering on the street. Unfortunately, the exact criteria and point scores for the evaluation and selection are not specified in the provided context. Additionally, the financial assistance may vary depending on the territory and is subject to conditions related to fund availability.
Who is not eligible
There are specific types of companies that are not eligible for this grant.
- Companies not legally constituted as a legal person or sole proprietorship
- Companies not duly registered with the Registre des entreprises du Québec (REQ)
- Companies without a place of business in Montreal and head office in Quebec
- Companies in debt to the government for amounts owed under tax laws
- Companies that have already received a grant or financial contribution from PME MTL for the same business project
Eligible expenses
This grant supports business projects designed to enhance the retail sector's diversity and quality in Montreal. Eligible activities focus on setting up, growing, and sustaining on-street businesses.
- Setting up a new business that meets a commercial demand.
- Growth or development of commercial activities.
- Retention of a business on a commercial street.
- Development or adoption of a model to make the business more attractive and resilient.
Eligible geographic areas
This grant is available to businesses located in Montreal, Quebec. It is specifically designed to support and develop the commercial entrepreneurship within the Montreal area.
- Businesses must have their place of business in Montreal.
- The head office must be located in Quebec.
Eligibility criteria of the PME MTL — Funds for Retail businesses program
There are evaluation and selection criteria for this grant:
- Business must be legally constituted and registered in Quebec
- Business plan or project summary submission
- Financial forecasts for at least two full financial years
- Strategic approach to sustainable development
- Add value to the existing commercial offering
- Provide 20% capital outlay
- No previous grant from PME MTL for the same project
How to apply to the PME MTL — Funds for Retail businesses program
1
Eligibility Verification
- Confirm that your company meets all the eligibility requirements listed.
- Verify that the company is located in an eligible territory and that it meets the financial criteria.
2
Preparation of Documents
- Prepare a detailed business plan or a project summary.
- Write financial forecasts for at least two years.
- Compile the financial statements for the last two fiscal years or for the first fiscal year for businesses less than two years old.
- Include, if applicable, a sustainability development strategy.
- Provide proof of a contribution of at least 20% of the total project cost.
- Obtain occupancy certificates and other required permits.
3
Find the Service Pole
Enter your business's postal code to identify your regional service hub on the PME MTL website.
4
Submission of the Request
- Contact the identified service department to find out the application submission procedures.
- Submit your request along with all required documents to the relevant service department.
5
Reception and Confirmation
- Wait for the confirmation of receipt of your request from the service team.
- Keep the contact details for following up on your request.
Additional information
Here are additional relevant details for this grant:
- The determination of financial assistance is subject to the availability of funds, and territories may have varying budgets affecting grant amounts.
- Applications are reviewed by a joint investment committee specific to the cluster involved, evaluating the entrepreneur's qualifications and project alignment with fund objectives.
- The grant amount is capped as a maximum of 80% of the total project cost, requiring applicants to provide at least 20% themselves.
- The fund is targeted at enhancing the diversity and quality of commercial streets.
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