PME MTL – PME MTL investment funds
Overview
Get a low-interest-rate loan of up to $300,000 to start or grow your business.
At a glance
Funding available
- Marketing a product
- Maximum amount : 300,000 $
- Up to 20% of project cost
- Open continuously
Eligible candidates
- All industries
- Montreal
- Montréal
- Quebec
- For-profit business
- Social economy enterprise
- Non-financial cooperative
- All revenue ranges
- All organization sizes
- Startups
Activities funded
Eligible projects and activities for the PME MTL investment funds include a variety of business-related expenses aimed at fostering growth and maintaining operations in Montreal. These ventures focus on expanding capital, acquiring necessary equipment, and facilitating marketing initiatives.
- Working capital fund to support business liquidity.
- Purchase or renewal of capital assets.
- Marketing expenses to enhance business visibility and customer engagement.
- Equipment purchases or renewal required for business operations.
- Acquisition of an existing company including succession and transfer.
- Fees associated with patents or protection of intellectual property.
- Prototyping activities for companies that are already in operation.
Eligibility
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.
Who is eligible?
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.Who is not eligible
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
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.
Eligible geographic areas
This grant is designated for companies operating within the city of Montréal, with the requirement for businesses to have their headquarters in Québec. This localization ensures the funds support the economic ecosystem of the Montréal area specifically.
- Businesses located in Montréal.
- Companies with headquarters in Québec.
Selection 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
How to apply
Territory Identification
- Enter your business's postal code to identify your PME MTL service hub.
- Select the appropriate territory from the provided map.
Consultation of experts
- Contact the experts in your area to establish initial contact and discuss your project.
- Schedule a meeting to assess the viability and suitability of your project with the requirements of the funds.
Preparation of the request
- Write a business plan or project summary including financial statements and the sustainability strategy.
- Gather all necessary documents, such as proof of registration and information about the management team.
- Demonstrate an equity investment of at least 20% of the total project cost.
Submission to the investment committee
- Prepare and submit the application to the joint investment committee of the identified service hub.
- Include all required documents and answer all questions on the form.
Request follow-up
- Wait for a response from the investment committee regarding the adjudication of your request.
- Be prepared to provide any additional information requested.
Additional information
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.
