PME MTL – Young Business
Highlights
This program is designed for you because it offers non-repayable financial assistance of up to $15,000. This can significantly help with your start-up or growth expenses. The funds can be used for essential business needs such as equipment purchases, leasehold improvements, marketing expenses, and working capital.
Why Apply?
- Non-repayable contribution: Unlike loans, you don't have to pay this money back.
- Boost your business: Use the funds to make critical investments that can drive your business forward.
- Combined support: This subsidy works alongside a loan from the Fonds PME MTL, providing a comprehensive financial package.
What's in it for You?
- Ease of qualification: If your business is less than five years old and based in Montréal, you likely qualify.
- Expert evaluation: Your application will be reviewed by a joint investment committee, ensuring that the support you receive aligns with your business goals.
Applying for this program can provide the financial boost you need to take your business to the next level.
Financing Details
Type of Financing: Non-repayable financial contribution (Subsidy)
Repayment Terms:
- No repayment required
Eligible Expenses:
- Equipment purchases
- Leasehold improvements
- Marketing expenses
- Working capital fund
Use of Funds:
- Funds cannot be used for personal expenses or any non-business-related activities.
Fees:
- No fees associated with the program
Qualifications
- Must launch a legally constituted business listed in the Registre d’entreprises du Québec (REQ).
- Business and head office must be located in Montréal.
- Business must have been in existence for less than five years.
- Must submit a business plan showing profitability and viability.
- Must commit to working full-time in the business (at least 35 hours per week).
Description
This program offers your business up to $15,000 in non-repayable financial assistance. This means you don't have to pay it back. The money can be used for various needs such as:
- Buying equipment
- Making improvements to your leased space
- Marketing expenses
- Working capital
To qualify, you need to combine this subsidy with a loan from the Fonds PME MTL.
This financial boost can help your business grow and become more profitable. The application will be reviewed to ensure your business plan is viable and meets the program's goals. This is a great opportunity to get the support you need to take your business to the next level.
Program Steps
Gather Necessary Documentation:
- Business plan showing profitability and viability
- Proof of legal constitution (Registre d’entreprises du Québec)
- Proof of business and head office location in Montréal
- Financial statements
- Personal identification documents
Prepare Your Application:
- Complete the application form provided by the program
- Ensure all sections are filled out accurately
Submit Your Application:
- Submit your completed application form along with all required documentation to the appropriate service hub in your area
Attend an Interview:
- Be prepared to attend an interview with the joint investment committee (CIC) of the hub concerned
- Discuss your business plan and answer any questions they may have
Await Decision:
- Wait for the committee to review your application and make a decision
- Be prepared to provide additional information if requested
Receive Funding:
- If approved, discuss the terms of the financial assistance
- Receive the non-repayable financial contribution of up to $15,000
Utilize Funds:
- Use the funds for eligible expenses such as equipment purchases, leasehold improvements, marketing expenses, or working capital
Follow-Up:
- Maintain communication with the program administrators
- Provide updates on the progress and impact of the funding on your business