PME MTL – New Community Businesses
Montréal, QC, Canada
Money for community-based businesses in Montreal
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|openingDateNovember 14, 2019
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- PME MTL
grant_single|status
grant_card_status|open
grant_single_labels|preview
Your new community-based venture may be eligible to receive $23,000 in loans and subsidies.
grant_single_labels|projects
Eligible community-based businesses can benefit from this grant. The grant offers financing of at least $23,000 for new community-based businesses on Montréal Island. Eligible projects include:
- New community-based businesses (less than 5 years old)
- Businesses operated on Montréal Island
- Membership with the Caisse d’économie solidaire
- Submission of an economically viable business plan
grant_single|admissibleProjectsExample
$23,000
Montréal
Establishing a community-based recycling center to promote environmental sustainability
$23,000
Montréal
Launching a health-focused community café with sustainable practices
$23,000
Montréal
Opening of a local artisan bakery with a focus on organic ingredients
$23,000
Montréal
Developing a community makerspace to boost local craftsmanship and innovation
grant_single_labels|admissibility
This program offers financing of at least $23,000 for eligible community-based businesses. To be eligible, businesses must be new (less than 5 years old), operate on Montréal Island, be a member of the Caisse d’économie solidaire, and submit a viable business plan.
- Be a new community-based business (less than 5 years old)
- Operate the business on Montréal Island
- Be a member of the Caisse d’économie solidaire or be prepared to join
- Submit a business plan showing that the enterprise is economically viable
grant_eligibility_criteria|who_can_apply
Eligible community-based businesses for this grant must be new (less than 5 years old), operate on Montréal Island, be a member of the Caisse d’économie solidaire or willing to join, and demonstrate economic viability in their business plan.
- New community-based businesses (less than 5 years old)
- Operating on Montréal Island
- Membership in the Caisse d’économie solidaire or willingness to join
- Presentation of an economically viable business plan
grant_eligibility_criteria|who_cannot_apply
Some companies may not be eligible for this grant. Eligibility criteria include:
- Companies older than 5 years
- Companies operating outside Montréal Island
- Companies not willing to become a member of the Caisse d’économie solidaire
- Companies lacking an economically viable business plan
grant_eligibility_criteria|eligible_expenses
The Fonds Jeunes entreprises collectives grant offers financing for eligible community-based businesses. Eligible expenses for this grant include:
- Startup costs
- Operational expenses
- Marketing and promotion
grant_eligibility_criteria|zone
There are specific geographic areas mentioned for this grant.
- Montréal Island
grant_single_labels|criteria
Every application for the Fonds Jeunes entreprises collectives grant is reviewed by the joint investment committee (CIC) to assess the entrepreneur's qualifications and the viability of the business plan within the fund's objectives and requirements.
- New community-based business (less than 5 years old)
- Operate the business on Montréal Island
- Be a member of the Caisse d’économie solidaire or be prepared to join
- Submit a business plan demonstrating economic viability
grant_single_labels|register
- Step 1: Verify eligibility criteria
- Be a new community-based business (less than 5 years old)
- Operate the business on Montréal Island
- Be a member of the Caisse d’économie solidaire or be prepared to join
- Submit a business plan showing that the enterprise is economically viable
- Step 2: Gather required documents
- Business plan
- Membership proof or willingness to join Caisse d’économie solidaire
- Step 3: Submit application
- Include all necessary documents
- Apply for the $3,000 subsidy, $10,000 grant, and $10,000 loan
- Step 4: Await review by the joint investment committee (CIC)
- The committee will assess qualifications and business plan viability
- Decisions will be made based on fund objectives and requirements
Apply to this program
Summary of the Fonds Jeunes Entreprises Collectives
The Fonds Jeunes Entreprises Collectives, in partnership with Caisse d’économie solidaire Desjardins, provides at least $23,000 in financial support to eligible community-based businesses less than five years old operating on Montréal Island. The financial aid includes a mix of subsidies, grants, and loans, contingent on economic feasibility as reviewed by a joint investment committee.
Detailed Explanation of the Fonds Jeunes Entreprises Collectives
The Fonds Jeunes Entreprises Collectives is a quintessential program aimed at nurturing and boosting community-based businesses within Montréal Island. This program is a collaborative effort between PME MTL, the Caisse d’économie solidaire Desjardins, and other partners in the social economy network, dedicated to fostering the growth of new and economically viable community-driven enterprises. Here is a comprehensive breakdown of what the Fonds Jeunes Entreprises Collectives entails, how it operates, and how eligible businesses can benefit from this initiative.
Eligibility Criteria
To qualify for the financial assistance provided by the Fonds Jeunes Entreprises Collectives, businesses must meet specific criteria. These criteria are designed to ensure that the support goes to enterprises that are genuinely community-focused and have the potential to thrive. The eligibility requirements are as follows:
- The business must be new, defined as being less than five years old.
- The business must operate on Montréal Island, thereby contributing to the local economy and community development.
- The business must be a member of the Caisse d’économie solidaire Desjardins or be willing to join.
- The business must submit a comprehensive and viable business plan that demonstrates the economic feasibility of the enterprise.
Financial Assistance Structure
The financial support offered through this program is structured to provide a mix of subsidies, grants, and loans, ensuring diverse financial resources for the burgeoning enterprise. The total minimum support is at least $23,000, distributed as follows:
- A $3,000 subsidy from the Caisse d’économie solidaire Desjardins.
- A $10,000 grant from PME MTL through the Fonds de développement de l’économie sociale. This grant reflects a considerable contribution towards the business’s initial operational costs or towards specific community-oriented projects.
- A $10,000 loan from PME MTL, the Caisse d’économie solidaire Desjardins, or another partner in the social economy network. This loan provides additional capital, which is crucial for the growth and stabilization of new enterprises.
Assessment and Approval Process
Every application submitted under the Fonds Jeunes Entreprises Collectives is meticulously examined by the joint investment committee (CIC) of the pertinent hub. The analysis entails a thorough review of the entrepreneur’s qualifications and the viability of the submitted business plan. The committee’s assessment criteria revolve around the fund’s overarching objectives and requirements, emphasizing the likely success and sustainability of the community-based business.
The rigorous evaluation process ensures that only the most promising and economically viable business plans receive support, thus fostering a robust and resilient community business ecosystem. The CIC looks for innovative business models, clear goals, and a strong community impact in potential recipients.
Application Process
For businesses interested in applying for the Fonds Jeunes Entreprises Collectives, the application process typically involves the following steps:
- Eligibility check: Ensure your business meets all the eligibility criteria outlined by the program.
- Membership: Join or prepare to join the Caisse d’économie solidaire Desjardins if not already a member.
- Business Plan: Prepare a comprehensive business plan, highlighting the economic viability and community impact of your enterprise.
- Application Submission: Submit your application along with the necessary documentation to the relevant PME MTL hub.
- Review and Approval: Await the evaluation and decision from the CIC. If approved, your business will receive the structured financial assistance.
Additional Support and Resources
Besides the financial assistance, the Fonds Jeunes Entreprises Collectives program also provides access to various resources and expert advice. The program encourages potential applicants to explore additional information provided by PME MTL regarding financing options and other supportive measures available for burgeoning businesses. SMEs can benefit from these resources to enhance their financial planning, operational efficiency, and overall project management.
Experts in the business domain specific to the applicant’s area can provide tailored advice, further increasing the chances of success for the new community-based business. It is recommended to visit the “Financing your business” and “Financial partners and financing programs” sections on the PME MTL website to understand the full spectrum of support available.
Conclusion
The Fonds Jeunes Entreprises Collectives stands as a testament to the commitment of PME MTL, Caisse d’économie solidaire Desjardins, and their partners towards fostering a vibrant and sustainable community business ecosystem on Montréal Island. By offering a substantial financial package combining subsidies, grants, and loans, this program empowers new and economically viable community-based businesses to flourish. The eligibility requirements, assessment criteria, and application process are meticulously structured to ensure support goes to those enterprises that genuinely aim at contributing to the economic and social fabric of Montréal Island.
For any aspiring entrepreneur or community-based business less than five years old, the Fonds Jeunes Entreprises Collectives presents a golden opportunity to secure initial funding, gain insightful support, and lay a solid foundation for long-term success. By leveraging this fund, new businesses can navigate the challenges of the initial years and emerge as resilient and impactful contributors to the local community.
