Rise — Small Business Lending
Canada
Business loans for entrepreneurs
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|openingDateNovember 14, 2019
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Retail trade
- Professional, scientific and technical services
- Health care and social assistance
- Arts, entertainment and recreation
- Accommodation and food services
grant_single|grantors
- Rise
grant_single|status
grant_card_status|open
grant_single_labels|preview
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.
grant_single_labels|projects
grant_single|admissibleProjectsExample
$10,000
Vancouver
Starting an online platform for addiction recovery resources
$10,000
Toronto
Launching a wellness center providing mental health support and therapy services
$10,000
Calgary
Expanding a peer support group for individuals with mental health issues
$10,000
Halifax
Opening a coffee shop that employs individuals in recovery from addiction
$8,000
Montreal
Creating a handmade soap business to promote mental wellness
$10,000
Ottawa
Establishing a sustainable fashion line that supports mental health advocacy
grant_single_labels|admissibility
The Rise Small Business Lending Program is designed to support motivated entrepreneurs who have experienced mental health and/or addiction challenges and are unable to access traditional bank financing. Applicants must meet the following eligibility criteria:
- Be motivated entrepreneurs
- Self-identify as individuals who have 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
grant_eligibility_criteria|who_can_apply
There are eligible types of companies for the Rise Small Business Lending Program. Eligible companies must be motivated entrepreneurs who self-identify as individuals who have experienced mental health and/or addiction challenges. They should also be unable to access traditional bank financing for their small business, not be in active bankruptcy, behind on child support payments, or government taxes, and reside in Canada.
- Motivated entrepreneurs
- Individuals who have experienced mental health and/or addiction challenges
- Unable to access traditional bank financing for their small business
- Not in active bankruptcy, behind on child support payments, or government taxes
- Reside in Canada
grant_eligibility_criteria|who_cannot_apply
Some types of companies are not eligible for this grant:
- Companies in active bankruptcy
- Companies behind on child support payments or government taxes
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant include:
- Business development costs
- Equipment purchases
- Marketing and advertising expenses
- Professional services fees
- Training and education costs
grant_single_labels|criteria
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
grant_single_labels|register
- Step 1: Complete the financing application, including personal and business details.
- Step 2: Prepare and submit a business plan outlining your business concept and strategy.
- Step 3: Create a 1-year cash flow projection to demonstrate financial planning.
- Step 4: Compile a resume highlighting relevant experience and skills.
- Step 5: Obtain and include a credit report to assess credit history.
- Step 6: Provide any additional supporting documentation as required for the application.
Apply to this program
Rise Small Business Lending Program
About the Rise Small Business Lending Program
The Rise Small Business Lending Program offers low-interest business loans up to $10,000 to support entrepreneurs in launching or growing their small businesses. The program includes mentorship from experienced business professionals and support in improving business skills and financial management. Eligible individuals must be motivated entrepreneurs who have experienced mental health and/or addiction challenges, unable to access traditional bank financing, and reside in Canada.
Rise considers both the person and the business during the lending process, looking beyond just credit history. This character-based approach aims to support individuals committed to improving their financial situation. The program also provides mentorship to position entrepreneurs for long-term success, connecting them with mentors based on expertise and business needs. With no hidden fees, the low-interest loans help entrepreneurs kickstart their business ventures and drive economic growth.
