How much funding can be received?

Funds up to 10000% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Rise — Small Business Lending?

Rise — Small Business Lending is funded by Rise

What are Rise — Small Business Lending's eligibility criterias?

Must be a motivated entrepreneur. Self-identify as experiencing mental health and/or addiction challenges. Unable to access traditional bank financing for their business.

Rise — Small Business Lending

Last Update: January 24, 2025

ON, Canada

Business loans for entrepreneurs

Rise — Small Business Lending at a glance

Eligible Funding

Max. $10,000

Timeline

Continuous Intakes

Financing Type

Loans and Capital investments

Eligible Industries

Retail trade
Professional, scientific and technical services
Health care and social assistance
Arts, entertainment and recreation
Accommodation and food services

Grant Providers

Rise

Status

Open

Overview of the Rise — Small Business Lending program

If you have experienced mental health and/or addiction challenges, you could get a low-interest loan up to $10,000 to launch or grow your small business and access resources to improve your business skills.

Financing terms and conditions

This program provides flexible and supportive financing modalities to assist entrepreneurs in launching or growing their small businesses. The focus is on offering accessible financial solutions combined with valuable mentorship opportunities.

Low-interest business loans tailored to the stage of business development and the viability of the business concept.
Loans available up to $10,000 with an average initial loan size of $4,000.
An average loan term of 3 years.
Repayment begins 30 days after loan disbursement.
No hidden fees are involved in the lending process.

Eligible projects & activities

The Rise Small Business Lending program is designed to support the growth and establishment of small businesses with financial and mentorship aid. This program includes low-interest loans and a strong mentorship component, which are crucial for entrepreneurs who are ineligible for traditional bank financing.

Provision of low-interest business loans up to $10,000 for launching or growing a small business.
Mentorship opportunities to guide and support entrepreneurs in executing their business plans and expanding their business operations.
Review and improvement of business plans and financial management skills through available resources.

Examples of admissible projects:

$ 10,000

Starting an online platform for addiction recovery resources

$ 10,000

Launching a wellness center providing mental health support and therapy services

$ 10,000

Expanding a peer support group for individuals with mental health issues

$ 10,000

Opening a coffee shop that employs individuals in recovery from addiction

$ 8,000

Creating a handmade soap business to promote mental wellness

$ 10,000

Establishing a sustainable fashion line that supports mental health advocacy

Eligibility criteria of the Rise — Small Business Lending program

Eligibility for the Rise Small Business Lending Program is determined based on specific criteria related to the entrepreneur's personal and business profile.

The applicant must be a motivated entrepreneur.
The applicant must self-identify as an individual who has experienced mental health and/or addiction challenges.
The applicant must be unable to access traditional bank financing for their small business.
The applicant must not be in active bankruptcy, behind on child support payments, or government taxes.
The applicant must reside in Canada.
The applicant must be a Canadian citizen or Permanent Resident.

Who is eligible?

Eligible individuals must be motivated entrepreneurs who self-identify as having experienced mental health and/or addiction challenges. They should be unable to access traditional bank financing, not be in active bankruptcy, behind on child support, or government taxes. Additionally, they must reside in Canada and be either Canadian citizens or Permanent Residents.

Who is not eligible

Some types of companies are not eligible for this grant:

Companies in active bankruptcy
Companies behind on child support payments or government taxes

Eligible expenses

The financing provided by the Rise Small Business Lending Program can be used for various eligible expenses necessary for starting or growing a small business.

Attendance fees and related costs for events or trade shows.
Purchasing necessary equipment or materials for the business.
Marketing and promotion activities.
Operational costs associated with business development.

Eligible geographic areas

This grant is available to eligible individuals across Canada, supporting entrepreneurs unable to access traditional bank financing due to specific personal challenges. Applicants must reside within Canada, ensuring that all provinces and territories are recognized as eligible locations.

All provinces and territories across Canada.

Eligibility criteria of the Rise — Small Business Lending program

There are evaluation and selection criteria for this grant. The criteria include:

Be motivated entrepreneurs
Self-identify as an individual who has experienced mental health and/or addiction challenges
Be unable to access traditional bank financing for their small business
Not be in active bankruptcy, behind on child support payments or government taxes
Reside in Canada
Be a Canadian citizen or Permanent Resident

How to apply to the Rise — Small Business Lending program

Review Eligibility Criteria

Ensure you meet all eligibility requirements, including self-identifying as having experienced mental health or addiction challenges, and not being able to access traditional bank financing.
Confirm you are a motivated entrepreneur residing in Canada and are a Canadian citizen or Permanent Resident.

Prepare Required Documents

Complete the financing application form.
Draft a comprehensive business plan outlining your business vision and structure.
Prepare a one-year cash flow projection to exhibit your financial planning.
Update your resume to reflect relevant experience and skills.
Obtain a recent credit report to include with your application.
Gather any additional supporting documentation that may help your application.

Submit Application

Gather all prepared documents into a complete application package.
Submit the application through the Rise online portal or mail to the designated address as directed on their site.

Confirmation and Follow-up

Receive confirmation of application submission via email or portal notification.
Keep in touch with Rise for any updates or further requests for information regarding your application.

Additional information

Here are additional relevant details for this program:

Rise is a character-based lender, considering not only credit history but also the individual's commitment to financial recovery.
Mentorship provided through the program matches entrepreneurs with mentors based on specific needs and mentor expertise.
Loan repayment begins 30 days following loan disbursement, allowing for quick capital deployment and immediate business action.
The mentorship program is designed to support the implementation of the business plan and facilitate business growth.
There are no hidden fees associated with the loans offered through this program, ensuring transparent financial terms.