The Government of Quebec's Aide d’urgence aux petites et moyennes entreprises (Emergency Assistance to Small and Medium-Sized Businesses) program is designed to promote access to capital as a means for businesses affected by the COVID -19 pandemic to maintain, consolidate or relaunch their activities. This program is among the measures taken to deal with the economic situation given the current extraordinary circumstances. Your PME MTL network is responsible for managing applications in the Montréal area.
This emergency assistance for small and medium-sized businesses comes in the form of loans, up to a maximum of $50,000, at an interest rate of 3%.
- A 6-month moratorium on principal and interest will automatically apply to all loans. An additional moratorium of up to 12 months on principal may be granted.
- Borrowers should expect an amortization period of 36 months, excluding the payment moratorium. Exceptionally, amortization could be up to 60 months, excluding the payment moratorium.
The financing is intended to cover liquidity shortfalls caused by:
- An impossibility or substantial reduction in the ability to deliver products (goods or services) or merchandise
- Problems with the supply of raw materials or products (goods or services).
This financial assistance may not be combined with assistance obtained under the Québec government's temporary concerted action program for businesses (PACTE program).
Eligible businesses include for-profit companies as well as cooperatives and social economy enterprises with market activities affected by the COVID-19 pandemic, with the exception of the following activities:
- the production or distribution of weapons
- gambling, slot machine operations, combat sports, racing or other similar activities
- production, sales and services related to the use of tobacco or drugs with the exception of projects involving Health Canada-licensed drug-grade products with a DIN, or their ingredients, and research and development projects with a Health Canada licence
- any activity whose main purpose is protected under the Canadian Charter of Rights and Freedoms (religion, politics, advocacy, etc.)
- any other activity that would be likely to offend public morality
In order to benefit from this emergency fund, the company:
- Must have been in operation in Québec for at least one year on the date of application*
- Must not be under the protection of the Companies' Creditors Arrangement Act (R.S.C., 1985, c. C-35) or the Bankruptcy and Insolvency Act (R.S.C., 1985, c. B-3)
- Must demonstrate the causal link between its financial or operational issues and the COVID -19 pandemic as follows:
- The company is temporarily closed, is likely to close or is showing signs of closure; and/or
- The company is in a context of maintaining, consolidating or relaunching its operations.
In order to be eligible for emergency assistance:
- The financing must provide short-term working capital to businesses whose financial situation is precarious so they can maintain, consolidate or relaunch their activities.
- The financing must be related to the amount of working capital needed to maintain the company’s operations, determined on the basis of justified and reasonable expenses and showing good prospects for profitability in the medium term. Businesses located in an area affected by major construction works may mention this fact, which will be taken into account in the profitability analysis.
* Companies whose activities take place outside Montréal must contact the organization responsible for managing the Fonds local d'investissement (FLI) (Local Investment Fund) in their RCM.
Companies will have to submit the following documents for analysis to support their financing application:
- A 12 month income statement and internal balance sheet ending no earlier than December 31, 2019. If your fiscal year ends before December 31st, please include interim financial statements from the end of your fiscal year to March 31, 2020).
- A summary of the expenses to be covered by the financial assistance over a 3-month period (to be entered in the Use of Funds section of the application form).
- Evidence of the impact of the crisis on the company's business through one of the following documents: a list of contracts lost due to COVID -19, evidence of a decrease in income in March and/or April 2020 due to the crisis, or any other relevant evidence.
- Declaration to the Registraire des Entreprises du Québec (REQ).
- Proof of payment of government remittances (GST/QST, DAS, Taxes) as of December 31, 2019, for both levels of government (documents available on ClicSÉQUR & CRA websites).
- The application form (please download the form before filling it).
Entrepreneurs must also consent to PME MTL conducting a personal credit investigation.
Submit an application
The emergency assistance application form can be downloaded here and submitted via the platform below. All information and personal data will remain confidential.
Before submitting your application, please visit the FAQ page which will help you navigate the form.
Businesses who wish to apply should act quickly as funds are limited. Only complete applications will be processed; however, a complete application does not guaranty any financial assistance.
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