Initiative to Support Economic Development in Montréal’s East End
no fixed amount
Loan
Description:
Recognizing this potential, the Government of Canada committed in Budget 2021 to support the economic transformation of Montréal’s East End and helped mobilize the community during the November 2023 Sommet de l’Est, while also announcing concrete action.
As such, CED will invest $30M in the coming years in projects by SMEs and NPOs that will have economic spin-offs in Montréal’s East End. The aim is to promote development opportunities that foster the region’s revitalization, attractiveness, and sustainable reindustrialization.
Comments on Funding:
Financial assistance
For SMEs
Financial assistance that can generally cover up to 50% of authorized costs;
This amount is repayable, without interest. Repayments generally begin two years after a project ends.
For NPOs
Non-repayable financial assistance that can generally cover up to 90% of authorized costs.
Certain exceptions may apply, including for projects led by Indigenous organizations and certain capital projects. We invite you to contact us regarding any questions you may have.
Continuous Intake
Eligibility:
Applicants must be:
1. Non-profit organizations (including NPOs that are part of the business climate or that provide services to businesses at different stages in their development)
2. SMEs
3. Business associations
4. Cooperatives and social economy businesses
5. Cégeps and universities
6. Municipalities and municipal economic development agencies
SMEs with local reach will be eligible on an exceptional basis under this initiative. Through their primary vocation and their prospects into the foreseeable future, these SMEs serve mainly the surrounding markets at a local or regional level. Among these local SMEs, CED may, however, prioritize those that arise out of diversity or women’s entrepreneurship, those that work in promising industrial sectors, or those whose products can be exported or target export markets.
Application Steps:
Applicants must contact CED for more details
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
