RISE Asset Development – Small Business Lending Program: Event Lending

Description:

The Rise Event Lending provides access to low-interest business loans to people with mental health conditions or addiction when they have a specific business opportunity to showcase or sell your product, like an upcoming festival, fair or trade show.

Comments on Funding:

Funding is up to $10,000. 

Loan terms and conditions:

  •  low-interest rate with an average loan term of 3 years.;
  • Repayment starts 30 days post loan disbursement.

Eligibility:

The applicant must:

  • Be self-employed or small businesses
  • Self-identify as an individual who has experienced mental health and/or addiction challenges
  • Be unable to access traditional bank financing for their small business
  • Not be in active bankruptcy, behind on child support payments or government taxes
  • Reside in Canada
  • Be a Canadian citizen or Permanent Resident.

Applications Steps:

Documentation Needed:

Applicants must submit the following:

  • A financing application
  • A business plan
  • A 1 year cash flow projection
  • A resume
  • Their credit report
  • Supporting documentation as required.

Other Things to Note:

Program funding under the Small Business Lending Program. Previously (2020) was an independent program and not active status in 2021.

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