User:Onemaria/RiseSandbox
Rise Asset Development
| Industry | Domestic Microfinance |
|---|---|
| Founded | 2009 |
| Headquarters | Toronto |
Area served | Ontario |
Key people | Sandra Rotman Joseph Rotman |
| Products | Financial Services Microfinance |
| Website | [www.http://riseassetdevelopment.com riseassetdevelopment |
Rise provides microfinancing and mentorship to entrepreneurs living with mental health and addiction challenges who are interested in pursuing self-employment. Business loans, leases, and other investments are offered depending on the stage of development, needs and capacity of each business. Rise provides business financing up to $25,000 throughout Ontario, with financing averaging from $3000 to $5000.[1] The Rotman School of Management and 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.[2]
History
Sandra Rotman founded Rise Asset Development.[3] She brought to the table the Rotman School and Management (University of Toronto) and Ontario’s world-leading Centre for Addiction and Mental Health (CAMH) for their respective expertise.
Through initial funding from Sandra Rotman, Rise conducted a pilot to assist entrepreneurs living with mental health and addiction challenges to explore self-employment and build successful, self-sustaining small businesses.
In 2009, the initial pilot successfully helped a small group of emerging entrepreneurs to access investment capital, business mentoring and social support. The pilot confirmed that the financial assistance and supports offered by Rise could help grow small business while improving the outlook of a marginalized segment of the community.
Mental Health and Addiction & Self-Employment
Health Canada estimates that 1 in 5 Ontarians will experience a serious mental health or a substance abuse issue in their lifetime.[4] In 2007-08, Ontario spent more than $2.5 billion on mental health and addiction services.[5]
Employment has been identified as a leading component in promoting positive mental health and supporting a fulfilling life in the community. Individuals who return to work demonstrate significant improvements in self-esteem and symptom management when compared with those who do not work. For most people, meaningful employment is a key element in their economic, social and personal lives. However, individuals living with mental illness and addictions face many barriers in finding and maintaining employment. Stigma is often the most prohibitive.
Self-employment can be an appropriate employment strategy to overcome the high unemployment rate among this population. Entrepreneurship can also facilitate the generation of supplementary income to assist people living with mental illness and addictions improve their quality of life and economic well-being.
Program
Rise provides loans, leases, and lines of credits and other financial products. The term of the loan is up to 3 years. The average loan size is $3000 to $5000. Rise also provides their clients with a business mentorship and support.[6]
Mission
Recognizing the interdependency of financial well being to one’s overall quality of life, Rise works to empower business owners with access to financing and business support. Rise is committed to improving the lives of people who are unable to secure employment due to mental health or addiction challenges.[7]
See Also
- Rotman School of Management
- Centre for Addiction and Mental Health
- Accion USA
- Grameen Bank
- Grameen America
- Project enterprise
External Links
References
- ^ "What we do". Retrieved 1 December 2011.
- ^ "Rotman CAMH Initiative: Rise Asset Development". Retrieved 1 December 2011.
- ^ [www.rotman.utoronto.ca/userfiles/supportrotman/file/Fall2011.pdf "$200 Million-Campaign"] (PDF). Rotman School of Mangement. Retrieved 1 December 2011.
{{cite web}}: Check|url=value (help) - ^ [www.health.gov.on.ca/en/.../mental_health/mentalhealth_rep.pdf "Respect, Recovery, Resilience: Recommendations for Ontario's Mental Health and Addictions Strategy"] (PDF). Retrieved 1 December 2011.
{{cite web}}: Check|url=value (help) - ^ "A Report on Mental Illnesses in Canada". Retrieved 1 December 2011.
- ^ "What we do". Retrieved 1 December 2011.
- ^ "What we do". Retrieved 1 December 2011.