PME MTL — Funds for Retail businesses
At a glance
- Max. $25,000
- 80% of project cost
- Open Date : April 12, 2021
- All industries
- PME MTL
Overview
Eligibility criteria
The eligibility criteria for this grant include being a Canadian citizen, having a legal business entity in Quebec, having a sales area on a commercial street, presenting a business plan, and providing financial forecasts among other requirements.
- Be a Canadian citizen, permanent resident, or hold a Certificat de sélection du Québec (CSQ)
- Be legally constituted as a legal person or sole proprietorship registered in Quebec
- Have a sales area on a street where goods or services are sold to the public
- Submit a business plan or project summary
- Present financial forecasts covering at least two full financial years
- Provide a capital outlay of at least 20% of the total project cost
Who is eligible
Eligible types of companies for this grant are those that meet the following conditions:
- Canadian citizen, permanent resident, or have a Certificat de sélection du Québec (CSQ)
- Legally constituted as a legal person or sole proprietorship
- Place of business in Montreal with head office in Quebec
- Have a sales area on the street where goods or services are sold to the public
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
Eligible expenses for this grant include:
- New business setup to meet commercial demand
- Growth or development of commercial activities
- Retention of a business on a commercial street
- Development or adoption of a model to enhance business attractiveness and resilience
Eligible projects & activities
The grant from the Commercial Entrepreneurship fund finances various projects including setting up new businesses, expanding existing commercial activities, retaining businesses on commercial streets, and enhancing business attractiveness and resilience. The eligible projects are:
- Setting up a new business that meets a commercial demand
- The 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
The Commercial Entrepreneurship Fund grant is intended for Montreal-based businesses that contribute to the diversity and quality of the existing commercial offering.
- Montréal
Evaluation & selection criteria
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
- Step 1: Verify eligibility and ensure the business meets all requirements
- Step 2: Prepare and submit the required documents including business plan, financial forecasts, and financial statements
- Step 3: Await assessment by the joint investment committee (JIC) of the cluster
- Step 4: Receive notification regarding the outcome of the application
Commercial Entrepreneurship Fund Grant Summary
The Commercial Entrepreneurship Fund offered by PME MTL provides financial assistance of up to $25,000 per 12-month period to support business development in the retail sector. The grant aims to fund projects such as establishing new businesses, expanding commercial activities, retaining existing businesses on commercial streets, and enhancing business resilience.
Exploring the Commercial Entrepreneurship Fund by PME MTL
The Commercial Entrepreneurship Fund by PME MTL is a strategic initiative designed to bolster the retail sector by offering tailored financial support to eligible businesses in Montreal. This fund provides a grant of up to $25,000 per 12-month period, constituting a maximum of 80% of the total project cost. The primary goal of this grant is to encourage entrepreneurship and foster the growth and sustainability of retail businesses.
Under this fund, eligible projects include setting up new businesses that cater to commercial demands, expanding or developing existing commercial activities, retaining businesses on commercial streets, and implementing models to enhance business attractiveness and resilience. To be eligible for this grant, businesses or promoters must meet specific criteria, including being Canadian citizens, having their place of business in Montreal, and showing a strategic approach to sustainable development where applicable.
The application process involves submitting a business plan or project summary, presenting financial forecasts for at least two financial years, and demonstrating added value to the existing commercial offering. The grant application undergoes evaluation by the joint investment committee (JIC) to assess project qualifications in alignment with the fund's policy objectives.
It is essential to note that the availability of funds is limited, and the grant amount may vary based on different territories and available budgets. Businesses are required to provide a capital outlay of at least 20% of the total project cost and should not have received any previous grants or financial contributions for the same project. The Commercial Entrepreneurship Fund serves as a valuable resource for retail businesses looking to initiate or expand their operations with financial assistance and support from PME MTL.