Non-profit provides support to entrepreneurs with mental health or addiction challenges
MONTREAL, Nov. 4, 2015 /CNW Telbec/ - The Business Development Bank of Canada (BDC) is partnering with RiSE Asset Development (RISE) to support people who are using entrepreneurial projects to rebound from mental health or addiction challenges.
In a three-year partnership, BDC will provide RiSE with $40,000 per year as well as skilled staff to serve as volunteer mentors and coaches for RiSE's activities and programs. It will also provide RiSE with strategic planning advice and support its efforts to expand further across Ontario and, eventually, to other provinces.
RiSE provides owners of small businesses and start-ups with low-interest small business loans of up to $10,000 and mentorship support. People living with mental health or addiction issues can have difficulty accessing traditional financing because of their credit history, lack of assets or income level.
"BDC applauds RISE's use of entrepreneurialism to create social value and we're very proud to support the resilient, creative and successful people who are its clients." says Craig Ryan, Director, Corporate Social Responsibility at BDC.
"Through our commitment to corporate social responsibility, we support people and commercial organizations that build social or environmental value as part of their business model and activities."
"RiSE is thrilled to partner with BDC! As a national organization focused on entrepreneurship, BDC will be a great strategic partner as we work towards growing the impact of RiSE's work and an invaluable additional resource to RiSE supported entrepreneurs," said Jodi L.H. Butts, Executive Director, RiSE Asset Development.
With a presence in Toronto, Ottawa, Kingston and London, RiSE has helped launch or grow nearly 117 businesses and provided small-business training to over 300 people over the last five years.
According to the Mental Health Commission of Canada, one in five Canadians will experience a mental health problem or challenge each year.
BDC is the only bank in Canada dedicated exclusively to entrepreneurs. With more than 100 business centres and over 32,000 clients, it offers loans, investments and advisory services. BDC's purpose is to support Canadian entrepreneurship with a focus on small and medium-sized businesses. To learn more, visit www.bdc.ca.
About RiSE Asset Development
RiSE is a charity that provides low interest small business loans, free training and mentorship to men and women with a history of mental health or addiction challenges who are unable to access traditional financing. Rise offers entrepreneurship as a pathway to better health outcomes and quality of life for people with a history of mental health or addictions challenges. Over the last five years, Rise has lent over $450,000 and enjoys a very competitive default rate of only 7%. To learn more, visit www.riseassetdevelopment.ca.
SOURCE Business Development Bank of Canada
For further information: Maria Constantinescu, BDC Public Relations, 514-496-7146, firstname.lastname@example.org; Jodi Butts, RiSE Asset Development, 416-978-5530, email@example.com