PME MTL – Solidarity Fund
At a glance
- Max. $300,000
- 80% of project cost
- Open Date : November 14, 2019
- All industries
- PME MTL
Overview
Eligibility criteria
Eligibility criteria for the grant:
- 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
- Submit a business plan or project summary, including updated or projected financial statements, a section on the company's strategic approach to sustainable development, and any other documents deemed relevant
- Show that you have entrepreneurial experience, knowledge and management skills
- Invest at least 20% of the total cost of your project
Who is eligible
Eligible types of companies for this grant include social economy enterprises, for-profit companies, and co-operatives.
- Social economy enterprises
- For-profit companies
- Co-operatives
Eligible expenses
Eligible expenses for this grant include:
- 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)
Eligible projects & activities
Eligible expenses for this grant include working capital, property, plant and equipment, marketing costs, equipment purchase or renewal, business acquisition (succession and transfer), patent or intellectual property protection costs, and prototyping (only for companies already in operation).
- Working capital
- Property, plant and equipment
- Marketing expenses
- Purchase or renewal of equipment
- Business acquisition (succession and transfer)
- Patent or intellectual property protection costs
- Prototyping (only for companies already in operation)
Eligible geographic areas
Montréal is the eligible geographic zone for this grant.
- Business postal codes located in Montréal
Evaluation & selection criteria
The evaluation and selection criteria for the Fonds PME MTL grant include:
- Canadian citizenship or permanent residency
- Legal constitution and registration in the Registre d’entreprises du Québec (REQ)
- Location of business in Montréal with the head office in Québec
- Submission of a detailed business plan or project summary with relevant documentation
- Demonstration of entrepreneurial experience, knowledge, and management skills
- Investment of at least 20% of the total project cost
How to apply
- Step 1: Check eligibility
- Check that you have Canadian citizenship or permanent resident status
- Ensure that the company is legally incorporated and registered with the REQ (Registre des entreprises du Québec)
- Ensure that the place of business is in Montreal and the head office is in Quebec.
- Step 2: Prepare the necessary documents
- Prepare a business plan or project summary
- Present updated or projected financial statements
- Include a section on the company's strategic approach to sustainable development
- Prepare any other relevant documents
- Step 3: Demonstrate experience and skills
- Demonstrate the entrepreneur's experience, knowledge and management skills
- Provide a downpayment of at least 20% of total project costs
- Step 4: Submitting the application
- Send loan application and required documents to Fonds PME MTL
Additional information
- The financing offered by PME MTL is a tool adapted to the reality of businesses, often allowing access to other sources of financing.
- Loans are available to for-profit businesses, social economy enterprises and cooperatives.
- Entrepreneurs benefiting from financing will receive support, advice and technical assistance from experts in the PME MTL network.
Grant Summary
Fonds PME MTL and Fonds local de solidarité Montréal (FLS Montréal) provide financial assistance to start-ups and growing companies in Montréal, offering loans up to $300,000 to support business development and job creation.
Detailed Explanation of Fonds PME MTL and Fonds Locaux de Solidarité Montréal
Fonds PME MTL and Fonds local de solidarité Montréal (FLS Montréal) are essential financial levers for businesses in Montréal, offering support to start-ups and growing companies to maintain jobs in the region. The financing provided by PME MTL is tailored to each company's needs, often serving as a catalyst for obtaining additional sources of funding. These loans are available for social economy enterprises, for-profit companies, and co-operatives, providing a maximum financial assistance of $300,000 from Fonds PME MTL and up to $100,000 from FLS Montréal.
Eligibility criteria require companies or their promoters to be Canadian citizens or permanent residents, legally registered in the Registre d’entreprises du Québec (REQ), with operations in Montréal and head offices in Québec. Applicants must present a comprehensive business plan or project summary, including financial statements, strategic approaches to sustainable development, and evidence of entrepreneurial experience. Investment of at least 20% of the project's total cost is mandatory.
Eligible expenses covered by these funds include working capital, capital assets, marketing expenses, equipment purchases, acquisition of companies, fees for patents or intellectual property protection, and prototyping for established companies. Entrepreneurs receiving financing also benefit from expert support, advice, and technical assistance from PME MTL specialists. Each application undergoes a thorough evaluation by the joint investment committee (CIC) to assess the entrepreneur's qualifications and the proposal's viability in alignment with the fund's objectives and requirements.