PME MTL Centre-Ville, in collaboration with Quartier Greene Merchants’ Association and the City of Westmount, is launching the entrepreneurial contest “My store in Quartier Greene”.
This contest, which aims to promote the area’s commercial activity, is applicable for the establishment of new businesses, the diversification of existing businesses as well as the transfer of businesses. The Quartier Greene commercial district includes Greene Avenue (between Sherbrooke and Sainte-Catherine Streets) and Sainte-Catherine Street (between Clarke and Wood Avenues).
In total, three grants of $25,000 each will be awarded as part of the entrepreneurial contest “My store in Quartier Greene”. Projects will be evaluated according to the evaluation criteria specified below. *
PME MTL Centre-Ville will offer support to any candidate who submits an eligible project. Additional support will be provided to successful candidates for the development of their projects, including assistance in seeking funding.
This contest is made possible by the Fonds Entrepreneuriat Commercial (FEC), which was put in place by the Montreal Agglomeration council. This Fund is aimed at promoting business activity on commercial streets on the Island of Montréal.
Projects that do not meet the minimal investment requirement specified in the Eligibility requirements section hereunder may be submitted under the call for projects procedure of the Fonds Entrepreneuriat commercial of PME MTL Centre-Ville (in French).
* PME MTL Centre-Ville reserves the right not to award the total amount of grants if projects submitted do not meet the evaluation criteria.
From May 1st to November 1st, 2019
- Be a Canadian citizen or permanent resident;
- Be incorporated as an individual company, joint stock company, cooperative or non-profit organization (NPO);
- Submit a project for the establishment of a new business, diversification of an existing business or a business transfer within the limits of Quartier Greene commercial district;
- For new businesses, the lease must not be signed before the contest launch date and must be valid for a minimum of two years;
- For existing businesses and business transfers, the lease must be valid for at least two years after the contest launch date;
- An owner-occupant of a business can also submit a project by providing standard proof of ownership;
- Demonstrate the financial viability of the project;
- Invest a minimum amount of 100 000 $ including working capital for 3 months of operation;
- Have a minimum cash down/seed money of 20 % in the project;
- For new businesses, aim to create at least one full-time job or the equivalent in the first year or, for existing businesses, to maintain jobs;
- Offer regular opening hours for the type of business proposed;
- Submit all required documents no later than November 1st, 2019;
- Agree to meet the panel and participate in the contest’s activities.
Ecluded from the contest are businesses:
- operating under a franchise or banner, chain of establishments or crown corporations;
- located in a shopping mall or center;
- whose activities will create undue distortion of competition in the Quartier Greene commercial district;
- whose main activities is of erotic, political or religious nature;
- that do not comply with applicable municipal, provincial or federal regulations.
Assessment of applications
A panel consisting of representatives from PME MTL Centre-Ville, Quartier Greene Merchants’ Association as well as the City of Westmount will evaluate eligible projects. Below are the evaluation criteria and respective weighting factors:
New businesses and diversification of existing businesses:
Conditions for the award of grant
In order to obtain the grant and prior to disbursement, the entrepreneurs should:
- Sign a commercial lease for premises or a building located in the Quartier Greene commercial district if renting, and if applicable, finalize all improvement works no later than February 28th, 2020;
- Obtain the required certificate of occupation from the City of Westmount and all other necessary permits;
- Sign an agreement with PME MTL Centre-Ville, which specifies that if the business ceases operations or relocates outside the Quartier Greene commercial district within 24 months after signing the agreement, the grant will have to be repaid proportionately to the number of months remaining.
Submission of application
Each participant is required to download and complete the registration form as well as submit a business plan and financial forecasts/results for 2 financial years and all other documents deemed useful for the assessment of the project. The business plan must demonstrate the financial viability and added value of the project for Quartier Greene’s residents, tourists and visitors.