Who is eligible for the ProMontreal Entrepreneurs (PME) Fund?
In order to apply for funding, you must be between the ages of 18-40, live in the greater Montreal area, be a member of the Jewish community, and your business must be in operation for less than two years.
How much funding is allotted?
Funding per eligible business is up to $50,000.
Is this a grant or a loan?
The amount awarded is in the form of a low-interest loan. Interest is at prime and there are no repayments for the first year. Repayments start in the second year and are repaid over a 5-year period.
How can I apply for funding?
To apply, you must complete the PME Fund application form , and submit a business plan, two letters of reference, and a credit check report from Equifax or Trans Union. You can submit all documentation by email (email@example.com) or in person.
How many rounds of funding are held per year?
Two funding rounds are held per year; one in the winter and one in late spring/early summer.
Does everyone who applies receive funding?
All applications are submitted to the ProMontreal Entrepreneurs coordinator, who conducts a first review of all business plans. Finalists are then submitted to the PME Steering Committee and asked to present in person. The committee then selects which businesses to fund from the finalists.
What is the mentorship program?
ProMontreal Entrepreneurs has a mentorship program which pairs budding entrepreneurs with seasoned professionals. Our mentors can offer guidance and advice on a number of topics, including:
Business management and administration
Obtaining business funding
Pursuing sustainable business growth
How can I apply for the mentorship program?
To apply, you must fill out a mentee registration form . Your application will be reviewed by the PME coordinator, who will contact you shortly thereafter.
How can I volunteer as a mentor?
To volunteer, you must fill out a mentor registration form . Your form will be reviewed by the PME coordinator, who will contact you shortly thereafter.
Are there events in the city specifically for entrepreneurs?
Please consult the PME calendar for events hosted by ProMontreal Entrepreneurs as well as other like-minded organizations throughout Montreal.
If I am over 40, can I still receive help form the PME program? Absolutely! The PME program has no age limit
I am in a partnership with someone who does not fit the criteria; can I still apply for the PME fund? If you are majority stock owner of your company, than yes you can.
Do you offer grants? No, but through our various partnerships we can connect you with the people that do.
I need a lot more than 50k to start my business. I am actively looking for funding elsewhere; does this disqualify me from applying to the PME fund? No, as long as it does not conflict with the PME criteria.