PME MTL – New Community Businesses
At a glance
- Max. $23,000
- Open Date : November 14, 2019
- All industries
- PME MTL
Overview
Eligibility criteria
This program offers financing of at least $23,000 for eligible community-based businesses. To be eligible, businesses must be new (less than 5 years old), operate on Montréal Island, be a member of the Caisse d’économie solidaire, and submit a viable business plan.
- Be a new community-based business (less than 5 years old)
- Operate the business on Montréal Island
- Be a member of the Caisse d’économie solidaire or be prepared to join
- Submit a business plan showing that the enterprise is economically viable
Who is eligible
Eligible community-based businesses for this grant must be new (less than 5 years old), operate on Montréal Island, be a member of the Caisse d’économie solidaire or willing to join, and demonstrate economic viability in their business plan.
- New community-based businesses (less than 5 years old)
- Operating on Montréal Island
- Membership in the Caisse d’économie solidaire or willingness to join
- Presentation of an economically viable business plan
Who is not eligible
Some companies may not be eligible for this grant. Eligibility criteria include:
- Companies older than 5 years
- Companies operating outside Montréal Island
- Companies not willing to become a member of the Caisse d’économie solidaire
- Companies lacking an economically viable business plan
Eligible expenses
The Fonds Jeunes entreprises collectives grant offers financing for eligible community-based businesses. Eligible expenses for this grant include:
- Startup costs
- Operational expenses
- Marketing and promotion
Eligible projects & activities
Eligible community-based businesses can benefit from this grant. The grant offers financing of at least $23,000 for new community-based businesses on Montréal Island. Eligible projects include:
- New community-based businesses (less than 5 years old)
- Businesses operated on Montréal Island
- Membership with the Caisse d’économie solidaire
- Submission of an economically viable business plan
Eligible geographic areas
There are specific geographic areas mentioned for this grant.
- Montréal Island
Evaluation & selection criteria
Every application for the Fonds Jeunes entreprises collectives grant is reviewed by the joint investment committee (CIC) to assess the entrepreneur's qualifications and the viability of the business plan within the fund's objectives and requirements.
- New community-based business (less than 5 years old)
- Operate the business on Montréal Island
- Be a member of the Caisse d’économie solidaire or be prepared to join
- Submit a business plan demonstrating economic viability
How to apply
- Step 1: Verify eligibility criteria
- Be a new community-based business (less than 5 years old)
- Operate the business on Montréal Island
- Be a member of the Caisse d’économie solidaire or be prepared to join
- Submit a business plan showing that the enterprise is economically viable
- Step 2: Gather required documents
- Business plan
- Membership proof or willingness to join Caisse d’économie solidaire
- Step 3: Submit application
- Include all necessary documents
- Apply for the $3,000 subsidy, $10,000 grant, and $10,000 loan
- Step 4: Await review by the joint investment committee (CIC)
- The committee will assess qualifications and business plan viability
- Decisions will be made based on fund objectives and requirements
Grant Summary
The Fonds Jeunes entreprises collectives offers financing of at least $23,000 for new community-based businesses on Montréal Island, including subsidies, grants, and loans.
Full Grant Explanation
The Fonds Jeunes entreprises collectives program provides financial support to eligible community-based businesses in Montréal, focusing on new ventures less than 5 years old. The financing includes a $3,000 subsidy from Caisse d’économie solidaire Desjardins, a $10,000 grant from PME MTL, and a $10,000 loan from PME MTL or other partners. To qualify, businesses must be members of Caisse d’économie solidaire or willing to join, and submit a viable business plan for review by the joint investment committee.
This funding initiative aims to promote the economic growth of community businesses, facilitating their establishment and development. By offering a mix of financial assistance through subsidies, grants, and loans, the program supports the sustainability and success of these enterprises. Through a rigorous evaluation process, the joint investment committee assesses each application to ensure alignment with the fund's objectives and the entrepreneur's qualifications. This grant opportunity not only provides crucial financial resources but also fosters collaboration among social economy partners to drive local business development and innovation.
For aspiring community entrepreneurs in Montréal, this grant program represents a valuable opportunity to kick-start or expand their business endeavors with substantial financial support. By tapping into the resources offered by the Fonds Jeunes entreprises collectives, eligible businesses can access the necessary capital to fuel their growth and contribute to the vibrant social and economic landscape of the region. With a focus on sustainability and community impact, this funding initiative plays a pivotal role in fostering entrepreneurship and fostering the development of community-based enterprises in Montréal. Joining forces with established financial partners like Caisse d’économie solidaire Desjardins and PME MTL, the program ensures that eligible businesses receive comprehensive support to thrive and prosper in the competitive business environment.
