The Business Development Bank of Canada (BDC) is financing loans to be given by Rise Asset Development in support entrepreneurs with mental health and addiction challenges.
Rise gives low-interest small business loans and mentorship support to entrepreneurs living with mental health or addiction issues, who often have difficulty accessing traditional financing.
“We’re delighted to help Rise expand its innovative, empowering program,” says Michael Denham, BDC president and CEO. “It fits perfectly with BDC’s purpose of support for entrepreneurs. Rise’s clients deserve the same consideration as other entrepreneurs. Canada needs more Rises.”
“Rise is excited to broaden our partnership with BDC,” says Robert J. McGuire, Rise board of directors chair. “As we expand across Canada over the next three years, BDC’s support is making a big impact in the lives of resilient, hard-working and creative Canadians and their communities.”
Rise has provided more than $1 million in loans since it was founded in 2010 by the Rotman School of Management and the Centre for Addictions and Mental Health.
Rise is supported by founding donor Sandra Rotman, the Government of Ontario and impact donors: RBC Foundation, Bell Let’s Talk and Janis Rotman. Visit riseassetdevelopment.com for more information.