Business Development Bank of Canada (BDC) is financing $325,000 in loans to be provided by Rise Asset Development to support entrepreneurs with mental health and addiction challenges. The amount will be disbursed over two years through loans of $5,000 to $10,000. It will allow Rise, a Toronto-based provider of low-interest small business loans and mentorship to individuals living with mental illness and addictions, to expand its program in Canada. Rise has extended 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.
BDC Finances $325,000 in Loans Through Rise Asset Development
Financing expands on partnership to help entrepreneurs with mental health and addiction challenges
MONTREAL, March 21, 2018 /CNW Telbec/ – The Business Development Bank of Canada (BDC) is financing $325,000 in loans to be given by Rise Asset Development to support entrepreneurs with mental health and addiction challenges.
The amount will be disbursed over two years in the form of loans of $5,000 to $10,000. The financing will allow Ontario-based Rise to expand its program to other provinces.
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. Camille Lauren, owner or Art of Ciel, Darren Leu, owner and director of Darren Christopher Projects and Apanaki Temitayo Minerve, owner of Apanaki Designs are three shining examples of the successful entrepreneurs BDC is committed to supporting.
Art of Ciel (AOC) is an arts-based creative business where Camille Lauren paints mixed media artwork inspired by sound, nature, and emotion. AOC creates custom commissions and paints live at special events.
Darren Leu collaborates with artists, collectives and organizations to explore different perspectives and create a dialogue with the public. Darren Christopher Projects offers event planning services, connects artists to production studios and manages event spaces for social and corporate use.
Apanaki Designs (AD) focuses on multi-media acrylic artwork incorporating African textiles collage on canvas. AD offers fine art in the form of original and commissioned works, posters, cards archival prints and merchandise. As an artist with lived experience, AD also offers facilitation and workshops for clients at Centre for Addiction and Mental Health (CAMH) and community organizations that bring together artists with mental health and addiction challenges.
“We’re delighted to help Rise expand its innovative, empowering program,” says Michael Denham, President and CEO of BDC. “It fits perfectly with BDC’s purpose of support for entrepreneurs. Rise’s clients deserve the same consideration as other entrepreneurs – and Canada needs more Rises.”
“Rise is excited to broaden our partnership with BDC,” says Robert J. McGuire, Chair of Rise’s Board of Directors. “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 over $1 million in loans since it was founded in 2010 by the Rotman School of Management and the Centre for Addictions and Mental Health.
“Today’s investment by the BDC to support Rise Asset Development and its work holds the potential to be transformative for many hardworking Canadians who need it most,” said the Honourable Bardish Chagger, Minister of Small Business and Tourism and Leader of the Government in the House of Commons. “I am so encouraged by the work of Rise to help new entrepreneurs who are working hard to overcome past challenges. Our government is committed to supporting Canada’s middle class, and just as importantly, those working hard to join it. The people that Rise helps are working especially hard, and I commend them for their tenacity and dedication. The entrepreneurs that will be supported by Rise offer all of us an important lesson: that no matter what challenges we have faced in our lives, there is always hope and opportunity. And that we are stronger when we work together to promote growth and empowerment for all Canadians.”
BDC is the only bank devoted exclusively to entrepreneurs. It promotes Canadian entrepreneurship with a focus on small and medium-sized businesses. With its 118 business centers from coast to coast, BDC provides businesses in all industries with financing and advisory services. Its investment arm, BDC Capital, offers equity, venture capital and flexible growth and transition capital solutions. BDC is also the first financial institution in Canada to receive B Corp certification. To find out more, visit bdc.ca.
About Rise Asset Development
Rise provides low interest small business loans, free training and mentorship to individuals living with mental illness and addictions who are interested in pursuing self-employment but are unable to obtain traditional financing. The Rotman School of Management and the Centre for Addiction and Mental Health participate in advisory functions, lending their respective expertise for business mentoring and mental health supports and services to the benefit of Rise clients. Rise is supported by founding donor Sandra Rotman, the Government of Ontario and impact donors: RBC Foundation, Bell Let’s Talk; and Janis Rotman. Rise is online at www.riseassetdevelopment.com.
For further information: Flavie Côté, Senior Advisor, Media Relations, BDC, firstname.lastname@example.org, 1-844-625-8321
Photo courtesy of Rise Asset Development