PME MTL — Funds for Retail businesses
Montréal, QC, Canada
Financing for Montreal-based retail startups
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateApril 12, 2021
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Retail trade
grant_single|grantors
- PME MTL
grant_single|status
grant_card_status|open
grant_single_labels|preview
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.
grant_single_labels|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.
grant_single_labels|projects
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.
grant_single|admissibleProjectsExample
$ 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
grant_single_labels|admissibility
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.
grant_eligibility_criteria|who_can_apply
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.
grant_eligibility_criteria|who_cannot_apply
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
grant_eligibility_criteria|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.
grant_eligibility_criteria|zone
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.
grant_single_labels|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
grant_single_labels|register
- Step 1: Ensure Eligibility
- Confirm you meet all the eligibility requirements such as business location, legal status, and necessary permits.
- Step 2: Prepare Business Plan and Financial Documents
- Create a comprehensive business plan or project summary detailing the proposed business project.
- Compile financial forecasts for at least two years, showing projected revenues and expenses.
- Gather financial statements for the last two years (or one year for newer businesses).
- Ensure you can demonstrate a strategic approach to sustainable development, if applicable.
- Step 3: Demonstrate Added Value
- Prepare a statement or document explaining how your business adds value to the existing commercial offering in the area.
- Step 4: Capital Outlay Declaration
- Ensure you can provide and declare a capital outlay of at least 20% of the total project cost.
- Step 5: Application Submission
- Visit the PME MTL website to find the application portal.
- Upload all required documents, such as the business plan, financial forecasts, and previous financial statements, to the portal.
- Complete any online application forms with your details and project information.
- Submit your application through the portal, ensuring all documents are uploaded prior to submission.
- Step 6: Confirmation of Submission
- Receive confirmation of your application submission.
- Retain a copy of the confirmation for future reference and follow-up.
grant_single_labels|otherInfo
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.
Apply to this program
Nurturing Retail Growth with PME MTL's Commercial Entrepreneurship Fund
This grant is tailored to assist retail businesses by offering financial backing that supports their development and sustenance in competitive markets. It is an excellent opportunity for entrepreneurs looking to enhance their presence on commercial streets while contributing to the diversity of local retail offerings.
Unlocking Opportunities for Retail Entrepreneurs Through Tailored Financial Support
The Commercial Entrepreneurship Fund by PME MTL is specifically designed for retail businesses aiming to thrive within Montreal's dynamic marketplace. Offering up to $25,000 in grant support per year, this initiative seeks to empower eligible entrepreneurs by covering up to 80% of their total project costs. The fund particularly targets new business setups that respond to existing commercial demand, thereby enhancing the vibrancy and diversity of the local retail landscape.
The grant is not only aimed at entrepreneurs starting fresh but also caters to those looking to expand and develop their current commercial activities. By doing so, it ensures that businesses remain viable and attractive, contributing substantially to the bustling commercial streets of Montreal. A key component is providing financial support to businesses that need to secure their place amid economic challenges, making their operations more resilient against market fluctuations.
Moreover, the fund strategically invests in projects that incorporate innovative models to enhance business resilience and customer attraction. It emphasizes sustainable business practices that align with contemporary market needs while also fostering strategic growth that is both adaptable and long-lasting. The initiative supports capacity-building and the adoption of new business models that can withstand economic pressures, thereby safeguarding retail businesses against unforeseen disruptions.
The evaluation process for these grants is meticulous, ensuring that only projects demonstrating significant potential for positive impact on the commercial offering are selected. This assessment is conducted by the joint investment committee, which evaluates both the qualifications of the entrepreneur and the feasibility of their project. By encouraging a strategic approach to business growth, the fund aims to cultivate an ecosystem that supports vibrant commercial activities across Montreal's streets.
Businesses and their promoters must meet specific eligibility criteria, including legal registration and location requirements, to access these funds. Importantly, the grant stipulates a minimum 20% personal capital investment by applicants, fostering a shared responsibility in ensuring project success. This personal stake by entrepreneurs underscores the fund's commitment to supporting dedicated and passionate business ventures that can significantly enhance local retail offerings.
Given the competitive nature and limited resources of this fund, prospective applicants must present comprehensive financial forecasts and a detailed strategic vision for their business projects. Successfully securing this grant offers access to not just financial resources but also potential networking and development opportunities through PME MTL's supportive ecosystem. As such, the fund is not merely a financial initiative but a stepping stone toward creating a robust and innovative retail environment in Montreal.
