PME MTL — Support for Innovations Marketing — Loans
Highlights
This program is designed for businesses like yours that are looking to innovate and grow. It offers up to $150,000 in financing, which can cover up to 80% of your project costs. This loan is ideal for testing and trialing innovations, validating target markets, launching products, generating initial sales, and protecting intellectual property.
Key Benefits:
- Substantial Financing: Up to $150,000 to support your innovative projects.
- Flexible Use: Funds can be used for market validation, product launches, and more.
- Combined Funding: Can be paired with the Fonds PME MTL for a total of up to $450,000.
Why Apply?
- Government-Backed: This loan is supported by the government, providing you with a reliable source of funding.
- Growth Opportunities: Helps you enter new markets and increase sales.
- Easy Qualification: If your business meets the criteria, the application process is straightforward.
By securing this financing, you can accelerate your business growth and innovation efforts, making it easier to achieve your goals.
Financing Details
Type of Financing: Loan
Loan Amount:
- Up to $150,000
- May not exceed 80% of the total cost of the business project
Repayment Terms:
- Specific repayment terms and interest rates are not provided in the context. Please contact your service center for detailed information.
Eligible Expenses:
- Testing and trial of innovations in real context
- Validation of target markets when developing the innovation
- Market launch
- Generating the first sales of the innovation
- Protecting an innovation through intellectual property rights
- Supporting efforts to develop new markets or export an innovation
Ineligible Expenses:
- Any expenses not directly related to the business project
Fees:
- No specific fees are mentioned in the context. Please contact your service center for detailed information.
Qualifications
- Must have Canadian citizenship, be a permanent resident, or hold a Quebec selection certificate (CSQ).
- Must be legally incorporated and registered in the Registraire des entreprises du Québec (REQ).
- Must have a Montréal-based address and a head office in the province of Quebec.
- Must present a business plan or executive 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 provide a minimum down payment of 20% of the total cost for a pre-startup business, and at least 15% of the total project cost for a start-up or growing business for a loan and 20% when applying for a subsidy.
Description
This program offers your business a loan of up to $150,000, covering up to 80% of your project costs. This funding is designed to support innovative projects that can make a significant impact in the Montreal area.
You can use this loan for:
- Testing and trial of innovations in real-world settings
- Validating target markets while developing the innovation
- Launching your product to the market
- Generating initial sales of the innovation
- Protecting your innovation through intellectual property rights
- Expanding into new markets or exporting your innovation
The loan can be combined with other funds, bringing the total available financing up to $450,000. This is a fantastic opportunity to push your innovative ideas forward and grow your business.
Program Steps
Gather Required Documentation:
- Business plan or executive summary
- Financial forecasts for 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)
- Proof of Canadian citizenship, permanent residency, or Quebec selection certificate (CSQ)
- Proof of legal incorporation and registration in the Registraire des entreprises du Québec (REQ)
- Proof of Montréal-based address and head office in Quebec
- Minimum down payment of 20% of the total cost for a pre-startup business, and at least 15% of the total project cost for a start-up or growing business for a loan and 20% when applying for a subsidy
Prepare Your Application:
- Ensure all documents are current and accurate
- Clearly outline the business project and how the loan will be used
- Include details on how the project will impact the Montreal area
Contact Your Local Service Center:
- Find the nearest service center using your business postal code
- Reach out to discuss your project and get guidance on the application process
Submit Your Application:
- Provide all required documentation to your local service center
- Ensure your application is complete and meets all criteria
Review by Joint Investment Committee (JIC):
- Your application will be reviewed by the JIC to ensure it aligns with the Fund's policy and objectives
- Be prepared to provide additional information if requested
Approval and Loan Disbursement:
- If approved, discuss the final loan terms, including interest rates and repayment schedule
- Once agreed upon, the loan funds will be disbursed to support your business project