The Fonds de développement Emploi-Montréal (FDEM) inc. is a capital development fund established jointly by Montreal Community Economic Development Corporations (CEDC), the City of Montreal, the FTQ’s Fonds de Solidarité and the Société de développement industriel du Québec. The Canadian and Quebec governments also contribute to its financing.

The FDEM’s mission is the economic development of Montreal boroughs through investment in viable and profitable small businesses. These businesses must have a structuring effect on the target community and an impact on the creation and retention of local jobs.

Objectives:

• The project’s economic viability
• Job creation and retention in the Sud-Ouest

Clientele:

• Profit-seeking businesses
• Industry sectors: manufacturing and high-value-added service industries
• Investment of $50,000 to $100,000 for a first request, and up to $150,000 for a second round of financing
• Equity-type loan with interest rate set according to risk
• Investment by promoters
• Submission of a complete business plan
• Demonstration of short-term profitability
• Application fee: 2% of loan, including $250 deposit
• Legal fees of 1.5% at closing session

For more information, Maria Sanchez.