PME MTL offers a wide range of financing options to promote business development. This commercial entrepreneurship fund is designed to provide financing tailored to the development of businesses in the retail sector.
Financial assistance
To support commercial entrepreneurship projects, a grant of up to $25,000 may be awarded per 12-month period, depending on the nature of the project and the area concerned. This contribution is a maximum of 80% of the total cost of the business project.
A fund to support on-street business projects that contribute to the diversity and quality of the existing commercial offer
The grant will finance the following projects :
- Setting up a new business that meets a commercial demand;
- The growth or development of its commercial activities;
- Retention of a business on a commercial street;
- Development or adoption of a model to make the business more attractive and resilient.
Eligibility requirements
To be eligible for a grant from the Commercial Entrepreneurship fund, a business or its promoters must meet the following conditions:
- Be a Canadian citizen, permanent resident or have a Certificat de sélection du Québec (CSQ);
- Be legally constituted as a legal person or sole proprietorship and duly registered with the Registre des entreprises du Québec (REQ);
- Have its place of business in Montreal and have its head office in Quebec;
- Have obtained the certificate of occupancy and any other permits required to carry out its business project;
- Have a sales area on the street where goods or services are sold to the public;
- Not be in debt to the government for amounts owed under tax laws;
- Submit a business plan or project summary;
- Present financial forecasts covering at least two full financial years;
- 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);
- Present a strategic approach to sustainable development, where applicable;
- Demonstrate that the company adds value to the existing commercial offering;
- Provide a capital outlay of at least 20% of the total cost of the project;
- Not have received a grant or other financial contribution from PME MTL for the same business project.
Analysis of applications
Only expenditure relating to the business project is eligible.
Each application will be assessed by the joint investment committee (JIC) of the cluster in question, establishing the qualifications of the entrepreneur and his project in relation to the objectives and requirements of the Fund's policy.
This envelope is restricted, and eligibility is subject to the availability of funds. The amount of financial assistance may vary from one territory to another, depending on available budgets, and is subject to certain conditions.