How much funding can be received?

Funds up to 80% of admissible expenses, capped at $300000 per project.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the PME MTL — Solidarity Fund?

PME MTL — Solidarity Fund is funded by PME MTL

What are PME MTL — Solidarity Fund's eligibility criterias?

Be a Canadian citizen or permanent resident. Be legally constituted and entered in the Registre d’entreprises du Québec (REQ). Have your business in Montréal and your head office in Québec.

PME MTL — Solidarity Fund

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Montréal, QC

Loans for Quebec social economy enterprises and co-operatives

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grant_single|openingDate November 14, 2019

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Loans and Capital investments

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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 offers varied financial assistance through different funds, each designed to meet the specific needs of start-ups and growing businesses, as well as those in the social economy sector. The financial modalities include scaled funding amounts depending on the fund source and terms customized to the project's risk and development strategy.

The FLS Montréal offers a maximum loan amount of $100,000.
The Fonds PME MTL provides a maximum loan amount of $300,000.
The Fonds d'Investissement innovation offers a maximum loan amount of $150,000.
Loan terms are variable and interest rates are dependent on assessed risk levels.

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This grant supports diverse business activities in Montréal, assisting companies in growth and sustainability. Eligible projects include capital investments, marketing efforts, and initiatives for securing intellectual property.

Working capital fund to facilitate smoother business operations.
Purchase or renewal of capital assets crucial for business infrastructure.
Marketing expenses to enhance business outreach and customer base.
Equipment purchases or upgrades to improve operational efficiency.
Acquisition of a company, specifically succession and transfer processes.
Fees pertaining to patents or protection of intellectual property.
Prototyping, available for companies already in operation, to develop or refine products.

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$ 300,000

Develop a new eco-friendly packaging prototype

$ 280,000

Expand organic delivery service in urban neighborhoods

$ 300,000

Upgrade manufacturing equipment for sustainable production

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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.

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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.

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This funding is specifically targeted towards companies based in the city of Montréal, ensuring alignment with the region's economic development goals. The eligible locations are set to support local businesses and entrepreneurs in Montréal.

Companies located in Montréal, Quebec.

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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)

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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.