Low-Interest Business and Event Loans
Small Business and Event Lending Program
Rise Individual Lending Program
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
Small Business Financing: Rise offers small business 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.
Small Business Event Financing: Event Lending provides loans up to $2,500 to be used by an entrepreneur to pay vendor admissions, purchase inventory, and cover marketing costs in order to sell/showcase their product or service at an event. An event is a convention, festival, fair, pop-up shop, or trade show where businesses pay to operate booths to showcase and sell their products/services. Entrepreneurs must use the sales from their event to immediately payback their loan before covering any other costs.
• Rise offer a low interest rate and average loan term is 3 years.
• Repayment starts 30 days post loan disbursement.
• Loans do not require security or a guarantee and there are absolutely no hidden fees at all.
Rise is a character-based lender. Rise will look at both the person and the business.
While credit history is a consideration in lending decisions, it’s not just about the credit score. Consideration is given to 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. The mentorship program provides Rise entrepreneurs with the necessary support and guidance as they implement their business plan and grow their business.
The mentors are successful business professionals who will share their extensive experience and business knowledge. A Mentor is matched to the individual based on the area of strength/expertise of the mentor and the needs of the entrepreneur.
Support: Waterloo Region Small Business Centre can assist you by reviewing your business plan and providing resources for you to improve your business skills and financial management.
For more information, contact the Jane, the Rise Individual Lending Program Coordinator: at Waterloo Region Small Business Centre 519 747 5139 or email firstname.lastname@example.org