PME MTL — Funds for Retail businesses
Highlights
This program is designed specifically for businesses like yours in the retail sector. It offers up to $25,000 in grant funding per year, covering up to 80% of your project costs. This financial assistance can help you set up a new business, grow your existing operations, retain your business on a commercial street, or develop a more attractive and resilient business model.
What You Get:
- Up to $25,000 in grant funding per year
- Covers up to 80% of your project costs
The funds can be used for:
- Setting up a new business
- Expanding or developing your commercial activities
- Retaining your business on a commercial street
- Enhancing your business model for greater resilience
This grant is a fantastic opportunity because it provides non-repayable funding, unlike traditional loans. Approval can significantly boost your business by providing the necessary capital to implement your strategic plans. The application process is straightforward, and as long as you meet the eligibility criteria, you have a strong chance of qualifying.
Financing Details
Type of Financing: Grant
Grant Amount: Up to $25,000 per 12-month period
Eligible Expenses:
- Setting up a new business that meets a commercial demand
- Growth or development of commercial activities
- Retention of a business on a commercial street
- Development or adoption of a model to make the business more attractive and resilient
Ineligible Expenses:
- Any expenses not directly related to the business project
Repayment Terms:
- No repayment required, as this is a grant
Fees:
- No fees associated with the program
Qualifications
- Must be a Canadian citizen, permanent resident, or have a Certificat de sélection du Québec (CSQ).
- Must be legally constituted as a legal person or sole proprietorship and registered with the Registre des entreprises du Québec (REQ).
- Must have its place of business in Montreal and head office in Quebec.
- Must have obtained the certificate of occupancy and any other required permits.
- Must have a sales area on the street where goods or services are sold to the public.
- Must not be in debt to the government for amounts owed under tax laws.
- Must submit a business plan or project summary.
- Must present financial forecasts covering at least two full financial years.
- Must present a compilation of financial statements for the last two completed financial years (or the first financial year for companies less than two years old).
- Must present a strategic approach to sustainable development, where applicable.
- Must demonstrate that the company adds value to the existing commercial offering.
- Must provide a capital outlay of at least 20% of the total cost of the project.
Must not have received a grant or other financial contribution from PME MTL for the same business project.
Disqualifications:
- Businesses that have received a grant or other financial contribution from PME MTL for the same business project.
- Businesses in debt to the government for amounts owed under tax laws.
Description
This program offers your business a grant of up to $25,000 per year. This money can cover up to 80% of your project costs.
You can use the grant for:
- Starting a new business that meets local demand
- Expanding or developing your current business activities
- Keeping your business on a commercial street
- Making your business more attractive and resilient
This grant is a great opportunity to boost your business without taking on debt. The funds can help you grow, adapt, and stay competitive in your area.
Program Steps
Gather Required Documentation:
- Business plan or project summary
- Financial forecasts covering at least two full financial years
- Compilation of financial statements for the last two completed financial years (or the first financial year for companies less than two years old)
- Certificate of occupancy and any other required permits
- Strategic approach to sustainable development (if applicable)
- Proof of capital outlay of at least 20% of the total project cost
Complete the Application Form:
- Fill out the application form with accurate and detailed information about your business and project.
Submit the Application:
- Submit the completed application form along with all required documentation to the appropriate service hub in your area.
Review and Assessment:
- Your application will be reviewed by the joint investment committee (JIC) of the cluster in question. They will assess the qualifications of your business and project in relation to the fund's objectives and requirements.
Await Decision:
- The committee will make a decision based on the assessment. This process may include discussions or requests for additional information.
Receive Notification:
- You will be notified of the decision. If approved, you will receive details about the grant amount and any conditions attached.
Finalize Agreement:
- If approved, finalize the agreement, including any terms and conditions, with the funding body.
Receive Funds:
- Upon finalizing the agreement, the grant funds will be disbursed to your business.
Implement Project:
- Use the grant funds to implement your business project as outlined in your application.
Report Progress:
- Provide periodic updates and reports on the progress of your project as required by the funding body.