PME MTL – Subsidies to support social economy initiatives
Highlights
This program is designed for businesses like yours, offering subsidies between $5,000 and $50,000 to support your social economy projects. Whether you need funds for technology, software, or working capital, this program can help you grow and innovate.
Why Apply?
- Financial Assistance: Receive substantial subsidies to cover essential expenses.
- Flexibility: Use the funds for a variety of needs, including professional fees and capital expenses.
- Support for Growth: Ideal for businesses looking to expand or explore new sectors.
Benefits
- Government-Backed: This subsidy is more reliable than other financing options.
- Job Creation: Helps you create or maintain jobs, boosting your business and community.
- Ease of Qualification: If your business meets the criteria, the application process is straightforward.
Applying for this program can provide the financial boost you need to take your business to the next level.
Financing Details
Type of Financing: Subsidy
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: The funds can be used for the above eligible expenses.
Restrictions: The funds cannot be used for any expenses not listed as eligible.
Fees: There are no fees associated with this subsidy program.
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 between $5,000 and $50,000. You can use this money for various needs, such as acquiring technology, software, or patents. It can also cover working capital, professional fees, and capital expenses like land, buildings, and equipment.
Eligible expenses include:
- Technology and software
- Working capital
- Professional fees
- Capital expenses (land, buildings, equipment)
The subsidy is designed to support social economy projects, from planning to growth. It also encourages innovative projects that explore new sectors or develop new expertise.
Every application is reviewed by a joint investment committee to ensure your proposal aligns with the fund’s objectives and requirements. This means you have a solid chance to secure funding that can significantly benefit your business.
Program Steps
Gather Necessary Documentation: Prepare the following documents:
- Business plan
- Financial statements
- Proof of self-generated revenue (at least 20% of annual revenue)
- Detailed project proposal
- Proof of investment (at least 20% of total project cost)
- Any relevant professional fees or capital expenses documentation
Complete the Application Form: Fill out the application form provided by the program. Ensure all sections are completed accurately.
Submit Application: Submit your completed application form along with the prepared documentation to the appropriate service hub in your area.
Attend Review Meeting: Be prepared to attend a meeting with the joint investment committee (CIC) of the hub concerned. This committee will review your application to determine your qualifications and the viability of your proposal.
Await Decision: Wait for the decision from the joint investment committee. They will assess your application based on the fund’s objectives and requirements.
Receive Funding: If approved, you will receive the subsidy amount between $5,000 and $50,000. Use the funds as outlined in your project proposal.
Report Progress: Provide regular updates on the progress of your project as required by the program guidelines. This may include financial reports and proof of how the funds are being used.