Rise Individual Lending Program
The Small Business Centre has partnered up with Rise to provide training, mentoring, and financing of up to $10,000 to help qualified and eligible individuals achieve their business goals. The Rise Individual Lending Program provides access to low interest business loans to launch or grow your small business. Eligible individuals must be unable to access traditional bank financing for their small business, and must self-identify as having experienced mental health and or addiction challenges.
What does the program include?
Financing + Mentorship + Support
Financing: we offer low interest business loans based on your stage of business development, viability of the business concept and capacity to re-pay. Eligible entrepreneurs can access loans up to $10,000 throughout Ontario, with an average initial loan size in the $3,000 to $4,000 range.
• We offer a low interest rate and average loan term is 3 years.
• Repayment starts 30 days post loan disbursement.
• Our loans do not require security or a guarantee and there are absolutely no hidden fees at all.
Rise is a character based lender. We look at both the person and the business. Although we do consider credit history in making our lending decisions, we look at more than just a credit score. We consider the individual's commitment to take the necessary steps to get their finances back on track.
Mentorship: we can connect you with a Rise mentor for guidance and support. Strong mentorship positions entrepreneurs for long-term success. Our mentorship program is designed to provide Rise entrepreneurs with the necessary support and guidance as they implement their business plan and grow their business.
Our mentors are successful business professionals who will share their extensive experience and business knowledge. Our matches are based on the area of strength/expertise of the mentor and the needs of the entrepreneur.
Support: we can assist you by reviewing your business plan and providing resources for you to improve your business skills and financial management. Eligible individuals may be able to participate in free training workshops.
To begin this program and/or learn more details, register to attend the information session.
Our next session will take place at the Small Business Centre on March 17th, 2020 from 1:30 p.m. to 2:30 p.m.
For more information, contact the Rise Individual Lending Program Coordinator:
David Proudfoot - P: 519-659-2882 ext. 223 E: firstname.lastname@example.org.