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PME MTL – Young Business
Montréal, QC
Subsidy for young businesses in Montreal
grant_single_labels|summary
grant_single|eligibleFinancing
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- grant_single|grantStatusClosed
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- PME MTL
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grant_card_status|closed
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Get up to $15,000 to help with your start-up and growth.
grant_single_labels|terms_and_conditions
This grant provides a non-repayable financial contribution to support young businesses in their start-up and growth phases. It requires businesses to secure a combination of funds to ensure sustainability.
- Non-repayable financial contribution of up to $15,000.
- Must be combined with a loan from the Fonds PME MTL.
- Eligible expenses include equipment purchases, leasehold improvements, marketing expenses, and working capital fund.
grant_single_labels|projects
The PME MTL – Young Business grant supports early-stage companies by providing financial assistance to enhance business operations. The grant can be used for various business-related expenses that aid in the growth and establishment of the enterprise.
- Purchases of essential business equipment.
- Improvements to leased business premises.
- Marketing and promotional activities to increase business visibility.
- Establishment of a working capital fund to manage day-to-day expenses.
grant_single|admissibleProjectsExample
grant_single_labels|admissibility
Eligibility for the Fonds Jeunes Entreprises grant is based on specific requirements that focus on the status and location of the business, as well as the commitment of the entrepreneur.
- Launch a legally constituted business listed in the Registre d’entreprises du Québec (REQ).
- Have your business and head office located on Montréal Island.
- Operate a company that has been in existence for less than five years.
- Submit a business plan demonstrating profitability and viability.
- Commit to working full-time in the business (at least 35 hours per week).
grant_eligibility_criteria|who_can_apply
Eligible applicants include start-up businesses that are legally constituted and listed in the Registre d’entreprises du Québec (REQ), with their headquarters located on Montréal Island, and have been operational for less than five years. Additionally, applicants are required to commit to working full-time in the business and must combine the subsidy with a loan from Fonds PME MTL.
grant_eligibility_criteria|who_cannot_apply
- Businesses not in Montreal
- Unregistered businesses
- Operations over 5 years old
- Part-time engagement in business
grant_eligibility_criteria|eligible_expenses
Eligible projects for this grant focus on supporting the essential operational and growth needs of young businesses. The financial assistance is designed to aid in critical startup expenses.
- Purchasing equipment necessary for business operations.
- Making leasehold improvements to business premises.
- Executing marketing strategies to promote the business.
- Building a working capital fund to support day-to-day expenses.
grant_eligibility_criteria|zone
This grant is available specifically to young businesses located within Montreal, as stipulated by the funding organization. The eligibility is designed to support regional start-ups on Montréal Island.
- Businesses with their head office in Montréal.
grant_single_labels|criteria
The evaluation and selection of projects for this grant under the Fonds Jeunes Entreprises are influenced by the entrepreneur’s qualifications and the proposal's viability in line with the fund’s objectives and requirements.
- Entrepreneur’s qualifications and experience related to managing and growing a business.
- Viability and profitability of the business plan submitted.
- Alignment with the strategic objectives of the Fonds Jeunes Entreprises and PME MTL.
- Projected impact on the Montréal economic ecosystem.
- Effective use of the proposed non-repayable financial contribution.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Verify Eligibility
- Ensure your business is a legally constituted entity under REQ.
- Confirm your business is based in Montréal and is less than five years old.
- Step 2: Prepare Business Plan
- Draft a comprehensive business plan demonstrating profitability and viability.
- Include financial projections and a detailed market analysis.
- Step 3: Full-time Commitment
- Prepare a declaration committing to full-time work in the business (minimum 35 hours per week).
- Step 4: Combine with Loan
- Secure a loan from Fonds PME MTL to combine with the subsidy.
- Step 5: Compile Application Documents
- Gather all necessary documents including a business plan, financial documents, and proof of PME MTL loan approval.
- Step 6: Submit Application
- Submit your application and supporting documents to the joint investment committee (CIC) of the relevant hub.
- Step 7: Await Assessment
- The CIC will review the application to assess eligibility and viability in line with the fund’s objectives.
grant_single_labels|otherInfo
The grant offers substantial financial support for start-ups, particularly targeting new businesses on Montréal Island. It emphasizes the importance of having a viable business plan and a commitment to full-time work in the business.
- The subsidy must be combined with a loan from the Fonds PME MTL.
- Eligible businesses must be listed in the Registre d’entreprises du Québec (REQ).
- Financial assistance is in the form of a non-repayable contribution of up to $15,000.
- Examples of eligible expenses include equipment purchases, leasehold improvements, marketing expenses, and working capital fund.
- All applications are reviewed by the joint investment committee (CIC) of the respective hub to ensure they meet the fund's requirements and objectives.
grant_single_labels|contact
info@pmemtl.com
