PME MTL investment funds: essential financial levers for businesses
The Fonds PME MTL and Fonds local de solidarité Montréal (FLS Montréal) (local solidarity fund) support start-ups and growing companies and help maintain jobs in Montréal.
The financing provided by PME MTL is adapted to each company’s situation, and is often useful as a lever in obtaining other sources of financing.
These funds are intended for social economy enterprises, for-profit companies and co-operatives.
To be eligible for a loan, you must:
- Be a Canadian citizen or permanent resident
- Be legally constituted and entered in the Registre d’entreprises du Québec (REQ)
- Have your business in Montréal and your head office in Québec
- Submit a business plan or a description of your plans, current or budgeted financial statements and any other supporting documentation deemed relevant
- Show that you have entrepreneurial experience, knowledge and management skills
- Invest at least 20% of the total cost of your project
- FLS Montréal: maximum of $100,000
- Fonds PME MTL: maximum of $300,000
- Variable term
- Interest rates vary according to risk
- 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)
Entrepreneurs who receive financing will also receive support, advice and technical assistance from PME MTL experts.
Every application is studied by the joint investment committee (CIC) of the hub concerned, to determine the entrepreneur’s qualifications and the viability of the proposal in light of the fund’s objectives and requirements.