PME MTL — Solidarity Fund QC Canada

PME MTL — Solidarity Fund

Montréal, QC, Canada
Loans for Quebec social economy enterprises and co-operatives
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  • grant_single|openingDateNovember 14, 2019
  • grant_single|grantStatusClosed
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Loans and Capital investments
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  • grant_single|allIndustries
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  • PME MTL
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Get a low interest rate loan of up to $300,000 to start or grow your business.

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This grant is specifically available to companies with their business operations in Montréal and a head office in Québec. These geographical restrictions ensure the support aligns with regional economic development strategies.
  • Businesses located in Montréal, Québec.
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$240,000

Opening a new bakery with specialized gluten-free offerings

$300,000

Acquisition of a local organic farm business to promote sustainable agriculture

$300,000

Development of a cutting-edge AI software for financial forecasting

$300,000

Expanding a renewable energy startup's office and manufacturing

$300,000

Launching a new mobile app for mental health support for NPO

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Eligibility for these loans is subject to specific criteria regarding the company's legal status, location, and the applicant's background.
  • The applicant must be a Canadian citizen or permanent resident.
  • The company must be legally constituted and entered in the Registre d’entreprises du Québec (REQ).
  • The business and its head office must be located in Montréal and Québec, respectively.
  • A business plan or project summary must be submitted, including financial statements and a strategic approach to sustainable development.
  • The applicant must show entrepreneurial experience, knowledge, and management skills.
  • There must be an investment of at least 20% of the total project cost by the applicant.

grant_eligibility_criteria|who_can_apply

This grant is available for social economy enterprises, for-profit companies, and co-operatives. To qualify, companies or their promoters need to be Canadian citizens or permanent residents, legally constituted and registered in the Registre d’entreprises du Québec, and have their business located in Montréal with their head office in Québec.

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This funding opportunity supports diverse business initiatives focusing on fostering growth and sustainability in the Montréal area. Eligible activities primarily support the financial stability and strategic development of businesses.
  • Establishment or expansion of a company's working capital fund.
  • Investment in capital assets crucial for business development.
  • Marketing expenses that enhance a company’s visibility and market reach.
  • Purchase or renewal of essential business equipment.
  • Facilitation of business acquisition, including succession planning and ownership transfers.
  • Payment of fees associated with patents or the protection of intellectual property rights.
  • Prototyping activities for companies that are already operational.

grant_eligibility_criteria|zone

The grant supports various business-related expenses to foster growth and sustainability in Montréal-based companies.
  • 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).

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The evaluation and selection criteria for this grant focus on the entrepreneurs' qualifications and the viability of their proposals in alignment with the fund's objectives and requirements. Each application is reviewed by the joint investment committee (CIC) of the relevant hub.
  • Canadian citizenship or permanent residency
  • Legal constitution and registry in the Registre d’entreprises du Québec (REQ)
  • Business and head office located in Montréal and Québec respectively
  • Submission of a comprehensive business plan or project summary
  • Evidence of entrepreneurial experience, knowledge, and management skills
  • Investment of at least 20% of the total project cost
  • Eligible expenses include working capital fund, capital assets, marketing expenses, equipment purchase/renewal, company acquisition, fees for patents/intellectual property protection, and prototyping (for existing companies)

grant_single_labels|register

Here are the steps to submit an application for this grant:
  • Step 1: Determine Eligibility
    • Ensure that your business is legally constituted and registered in the Registre d’entreprises du Québec (REQ).
    • Confirm that your business is based in Montréal and has its head office in Québec.
    • Verify that you meet the citizenship or residency requirements.
  • Step 2: Prepare Application Documents
    • Write a comprehensive business plan or project summary.
    • Include updated or projected financial statements.
    • Prepare a section detailing your strategic approach to sustainable development.
    • Compile any other relevant supporting documents.
  • Step 3: Financial Preparation
    • Ensure that you can invest at least 20% of the total cost of your project.
    • Review eligible expenses like working capital, capital assets, and marketing expenses.
  • Step 4: Locate a PME MTL Expert
    • Enter your business postal code on the PME MTL website to find local experts.
    • Contact the expert for guidance and support in refining your application.
  • Step 5: Submit Application
    • Prepare the final version of your application documentation.
    • Submit your application to the local PME MTL hub that corresponds to your business location.
  • Step 6: Application Review
    • Your application will be reviewed by the joint investment committee (CIC) of the respective hub.
    • The review focuses on the entrepreneur’s qualifications and the proposal’s viability.

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Here is an additional relevant detail for this grant:
  • Entrepreneurs who receive financing will also receive support, advice, and technical assistance from PME MTL experts.
  • Every application is reviewed by the joint investment committee (CIC) of the relevant hub.
  • The financing provided by PME MTL can act as a leverage for obtaining other financing sources.
  • Interest rates for the loans vary according to risk.

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PME MTL — Solidarity Fund

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