PME MTL – Social Initiatives
Highlights
This program is designed for businesses like yours, offering substantial financial support to help you grow and innovate. You can receive a subsidy between $5,000 and $50,000 to cover essential expenses such as technology acquisition, working capital, professional fees, and capital expenses. This funding can be a game-changer, allowing you to invest in new equipment, software, or even expand your physical space.
Why apply? This subsidy provides non-repayable financial assistance, making it a more attractive option compared to traditional loans. It helps you maintain cash flow while investing in critical areas of your business. Approval can lead to job creation or maintenance, further strengthening your business's stability and growth.
Qualifying for this program is straightforward, and the application process is designed to be as smooth as possible. By securing this funding, you can focus on what you do best—running and growing your business—without the added stress of financial constraints.
Financing Details
Type of Financing: Subsidy
Amount: Between $5,000 and $50,000
Eligible Expenses:
- Acquisition of technology, software, patents, etc.
- Working capital fund
- Professional fees
- Capital expenses (land, building, equipment, incorporation expenses, etc.)
Use of Funds:
- Funds cannot be used for non-business-related expenses or any activities not aligned with the social economy project.
Fees:
- There are no fees associated with applying for or receiving this subsidy.
Qualifications
- Must be a social economy enterprise or a non-profit organization (NPO) with a social economy project.
- Must be headquartered in Montréal.
- Must take a formal entrepreneurial approach.
- Must have self-generated revenue from the sale of goods or services representing 20% of annual revenue.
- Must show the ability to create or maintain jobs.
- Must invest at least 20% of the total project cost.
Description
This program offers your business a subsidy ranging from $5,000 to $50,000. You can use this money for various needs such as buying technology, software, patents, or even covering professional fees and capital expenses like land, buildings, and equipment.
Eligible expenses include:
- Technology and software acquisition
- Working capital
- Professional fees
- Capital expenses (land, building, equipment, incorporation costs)
The goal of this program is to support social economy projects, helping you from the planning stage to growth. It also encourages innovative projects that explore new sectors or develop new expertise.
This is a great opportunity for your business to get financial assistance without the need to pay it back, as it is a subsidy, not a loan. This can help you create or maintain jobs and invest in your business's future.
Program Steps
Gather Required Documentation: Prepare the following documents:
- Business plan
- Financial statements
- Proof of self-generated revenue (20% of annual revenue)
- Project cost breakdown
- Evidence of job creation or maintenance
- Proof of investment (at least 20% of total project cost)
Complete the Application Form: Fill out the application form provided by the program. Ensure all sections are completed accurately.
Submit the Application: Submit your completed application form and required documentation to the appropriate service hub in your area.
Review by Joint Investment Committee: Your application will be reviewed by the joint investment committee (CIC) of the hub concerned. They will assess your qualifications and the viability of your proposal.
Await Decision: Wait for the committee's decision. They will inform you whether your application has been approved or if additional information is needed.
Receive Funds: If approved, you will receive the subsidy amount, which can range between $5,000 and $50,000, to support your project.
Implement Your Project: Use the funds to cover eligible expenses such as acquisition of technology, working capital, professional fees, and capital expenses. Ensure you follow the guidelines provided by the program.