PME MTL – PME MTL investment funds
Highlights
This program is a fantastic opportunity for your business. It offers tailored financing options to help you grow and maintain jobs in Montréal. You can receive up to $300,000 from the Fonds PME MTL, and up to $100,000 from the FLS Montréal. These funds can be used for various needs, such as working capital, marketing expenses, equipment purchases, and more.
What You Get:
- Up to $300,000 in financing
- Support, advice, and technical assistance from PME MTL experts
The funds can be used for:
- Working capital
- Marketing expenses
- Equipment purchases
- Acquisition of a company
- Fees for patents or intellectual property protection
This financing is designed to be flexible and can serve as a lever to obtain other sources of funding. The interest rates vary according to risk, making it potentially more affordable than other loans. By being approved, you not only secure essential funds but also gain access to expert support, ensuring your business thrives.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- The loan amount can vary:
- FLS Montréal: Up to $100,000
- Fonds PME MTL: Up to $300,000
- Fonds d'Investissement innovation: Up to $150,000
- The term of the loan is variable.
- Interest rates depend on the risk associated with the loan.
Eligible Expenses:
- 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)
Ineligible Expenses:
- The funds cannot be used for personal expenses or any non-business-related activities.
Fees:
- There are no specific fees mentioned for this program.
Qualifications
- Must be a Canadian citizen or permanent resident.
- Must be legally constituted and entered in the Registre d’entreprises du Québec (REQ).
- Must have your business in Montréal and your head office in Québec.
- Must 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.
- Must show entrepreneurial experience, knowledge, and management skills.
- Must invest at least 20% of the total cost of your project.
Description
This program offers your business a chance to receive financial assistance tailored to your needs. You can get up to $300,000 from the Fonds PME MTL, $100,000 from FLS Montréal, and $150,000 from the Fonds d'Investissement innovation. These funds can be used for various purposes, such as working capital, buying equipment, marketing, or even acquiring another company.
The terms are flexible. The interest rates depend on the risk, and the payback period varies. This means you can find a solution that fits your business situation.
Additionally, you won't just receive money. You'll also get support, advice, and technical assistance from PME MTL experts. This can help you make the most of the funds and grow your business effectively.
Program Steps
Gather Required Documentation: Prepare the following documents:
- Business plan or project summary
- Updated or projected financial statements
- Section on the company's strategic approach to sustainable development
- Any other relevant documents
Complete the Application Form: Fill out the application form provided by PME MTL.
Submit Documentation: Attach all the prepared documents to your application form.
Contact Your Local PME MTL Hub: Find the contact information for your local PME MTL hub and submit your application. You can find the nearest hub by entering your business postal code or selecting your area on the PME MTL website.
Review and Follow Up: The joint investment committee (CIC) of the hub will review your application. Be prepared to provide additional information if requested.
Await Decision: Wait for the decision from the CIC. They will determine your qualifications and the viability of your proposal.
Receive Funding and Support: If approved, you will receive the loan and additional support, advice, and technical assistance from PME MTL experts.