PME MTL – PME MTL investment funds
Montréal, QC, Canada
Loans for Quebec start-ups and growing companies
grant_single_labels|summary
grant_single|eligibleFinancing
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- grant_single|projectCostPercent
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- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- PME MTL
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grant_card_status|open
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Get a low-interest-rate loan of up to $300,000 to start or grow your business.
grant_single_labels|projects
This grant is available to companies that operate and have their head office within a specific geographical area as required by the funding body. The eligibility is focused on businesses based in Montréal.
- Businesses must be located in Montréal, Canada.
grant_single|admissibleProjectsExample
$180,000
Establish a working capital fund for a social initiative
$20,000
Renew kitchen appliances for a community restaurant
$100,000
Fund succession and transfer for a family-run bookstore
$80,000
Develop a marketing campaign for a new line of eco-friendly products
$170,000
Develop a prototype of a new health monitoring device
$150,000
Purchase new state-of-the-art manufacturing equipment
grant_single_labels|admissibility
Eligibility for this grant requires meeting specific conditions related to the business's operation and legal status.
- The applicant must be a Canadian citizen or permanent resident.
- The business must be legally constituted and entered in the Registre d’entreprises du Québec (REQ).
- The business must be located in Montréal with its head office in Québec.
- The applicant must submit a business plan or project summary, including financial statements and strategies for sustainable development.
- The applicant must show entrepreneurial experience, knowledge, and management skills.
- The applicant must invest at least 20% of the total cost of the project.
grant_eligibility_criteria|who_can_apply
The Fonds PME MTL and Fonds locaux de solidarité Montréal (FLS Montréal) are designed to support start-ups, growing companies, social economy enterprises, for-profit companies, and co-operatives located in Montréal. Eligible applicants must fulfill specific criteria such as Canadian citizenship or permanent residency, legal registration in the Registre d'entreprises du Québec, and maintaining their head office in Québec. They should also demonstrate entrepreneurial experience and allocate at least 20% of the project costs through personal investment.
grant_eligibility_criteria|who_cannot_apply
Some types of companies are not eligible for this grant if they do not meet the specified criteria:
- Non-Canadian citizens or permanent residents
- Companies not legally constituted and entered in the Registre d’entreprises du Québec (REQ)
- Businesses located outside Montréal with the head office not in Québec
grant_eligibility_criteria|eligible_expenses
This grant supports businesses in various stages of development by providing financial assistance for a range of eligible activities. These activities are designed to improve infrastructure, protect intellectual property, and support business acquisitions and marketing efforts.
- Creating a working capital fund to stabilize and support business operations.
- Purchasing or renewing capital assets necessary for business growth.
- Funding marketing expenses to expand the business's reach and customer base.
- Acquiring new equipment to boost efficiency and competitiveness.
- Executing business acquisition, succession, and transfer plans.
- Covering fees for patents or protection of intellectual property.
- Investing in prototyping for companies that are already in operation.
grant_eligibility_criteria|zone
The grant covers specific expenses essential for the growth and sustainability of a business in Montreal.
- Working capital fund.
- Capital assets.
- Marketing expenses.
- Equipment purchases or renewal.
- Acquisition of a company (succession and transfer).
- Fees for patents or protection of intellectual property.
- Prototyping (only for companies already in operation).
grant_single_labels|criteria
Applicants for this grant are evaluated based on their entrepreneurial experience, knowledge, management skills, and the viability of their proposed project. The selection criteria include being a Canadian citizen or permanent resident, having a legally constituted business in Montréal, presenting a business plan, showing 20% investment in the project, and meeting other specified conditions.
- Canadian citizenship or permanent residency
- Legal constitution and registration in the Registre d’entreprises du Québec (REQ)
- Business location in Montréal and head office in Québec
- Submission of a detailed business plan or project summary
- Demonstration of entrepreneurial experience and management skills
- Investment of at least 20% of the total project cost
grant_single_labels|register
- Step 1: Identify Local Hub
- Use your business postal code to find the relevant PME MTL hub in Montréal responsible for your area.
- Step 2: Gather Required Documentation
- Prepare a business plan or project summary.
- Include updated or projected financial statements.
- Document your company’s strategic approach to sustainable development.
- Compile evidence of entrepreneurial experience and management skills.
- Ensure you have invested at least 20% of the total project cost.
- Step 3: Initial Consultation (if available)
- Contact PME MTL to discuss your project and get advice on your application (if applicable).
- Step 4: Submit Application
- Ensure that all documentation is complete and meets the eligibility criteria.
- Submit your application to the designated hub, either through their online portal or by the means specified by the hub.
- Step 5: Await Evaluation
- Your application will be reviewed by the joint investment committee (CIC) of the hub.
- Be prepared to provide additional information if requested by the committee.
- Step 6: Receive Feedback
- Receive a decision regarding your application.
- If approved, discuss the terms of the funding and signed agreements with PME MTL.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Loans serve as financial levers and can be used to secure additional sources of financing.
- Companies that receive funding are eligible for ongoing support, advice, and technical assistance from PME MTL experts.
- Applications are evaluated by a joint investment committee specific to the local hub, which assesses the qualifications and viability of the proposal based on the fund's objectives.
- Interest rates on loans are variable and depend on the assessed risk.
Apply to this program
Financial Boost for Montreal-Based Businesses
The Fonds PME MTL and Fonds local de solidarité Montréal provide crucial financial support to startups and growing companies in Montreal, aiding in job retention and business expansion. By offering tailored loans, these funds serve as essential financial levers, helping businesses secure additional financing sources while supporting social economy enterprises, for-profit organizations, and cooperatives.
Unveiling the Dynamics of PME MTL Investment Funds
PME MTL investment funds are crucial economic enablers within Montreal, structured to provide strategic financial leverage for companies aiming to establish or expand their operations. The Fonds PME MTL and Fonds local de solidarité Montréal (FLS) specifically target dynamic startups and burgeoning enterprises in the Montreal area. They play a pivotal role in sustaining employment and nurturing local entrepreneurship, significantly contributing to the regional economy's vibrancy. These funds are tailored to accommodate the unique circumstances of each business, offering a flexible maximum of up to $300,000 for the PME MTL and $100,000 for the FLS.
Importantly, these loans are not just financial boosts; they are instruments designed to facilitate more extensive financing arrangements. Enterprises often use these loans as leveraging points to attract additional funding sources, thus enhancing their financial capabilities and operational scope. The requirement for applicants to demonstrate entrepreneurial experience and pertinent management skills ensures that the funds are allocated effectively and responsibly, promoting not only fiscal responsibility but also fostering growth-oriented business strategies.
Additionally, the funds encourage projects that integrate sustainable development practices within their strategic framework, thus aligning financial contributions with broader environmental and societal goals. Eligible recipients are required to have their establishments firmly rooted in Montreal, with headquarters based in Quebec, a stipulation that underlines the fund's commitment to strengthening the local entrepreneurial ecosystem.
Moreover, the diversity in eligible expenses—from working capital funds to equipment purchases and intellectual property protection—demonstrates the fund's comprehensive support for varied business needs. This broad eligibility ensures that businesses can deploy resources strategically across different operational facets, from acquiring necessary assets to managing ongoing operational requirements. It further extends to covering costs related to the succession and transfer of companies, ensuring business continuity and legacy preservation.
What sets these funds apart is the holistic support package offered to successful applicants. Beyond mere financial assistance, PME MTL provides ongoing support, advice, and technical assistance, fostering an environment of continuous growth and innovation. This support network is crucial for entrepreneurs, often bridging the gap between financial assistance and strategic business success.
The award determination process carried out by the joint investment committee is rigorous yet strategically aligned with the objectives of PME MTL, ensuring that selected projects demonstrate viability and alignment with key funding priorities. By doing so, PME MTL assures that the resources are directed toward ventures that are not only capable of delivering economic benefits but are also poised to make meaningful impacts within their communities.
In summary, the Fonds PME MTL along with the FLS form the backbone of strategic financial support for the Montreal business community, providing a critical pathway toward sustainable development and economic resilience. With their focus on localized support and strategic entrepreneurship, these funds are instrumental in shaping a more prosperous and innovative future for businesses operating in the city.
