Rise Asset Development — Business Loans
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Eligibility & Details
What this program funds and who can apply
Program Description
A Canadian charity providing character-based microloans of $500–$10,000 at Prime + 2.5% to entrepreneurs living with mental health and addiction challenges who cannot access conventional bank financing. Founded in 2010 out of the Rotman School of Management and CAMH, Rise has disbursed over $4.3 million across 1,000+ loans and wraps each loan with mentorship, coaching, and peer support. Youth program graduates may receive a $500 non-repayable startup grant. Programming is available online nationally with active delivery in Ontario and Nova Scotia.
Eligibility Requirements
- Must be a Canadian living with mental health and/or addiction challenges
- Must be loan-ready: have or be starting a business with a viable plan
- Cannot access conventional bank financing due to credit history or barriers related to mental health/addiction
- Business must be legal and operating (or about to launch) in Canada
- Online delivery available nationally; in-person programming active in Ontario and Nova Scotia
- $500 non-repayable startup grant available to Youth Small Business Program graduates only
Quick Assessment
Funding Details
- Amount
- $500 to $10,000 (Prime + 2.5%, character-based); $500 non-repayable startup grant for Youth Small Business Program graduates
- Type
- Loan
- Level
- Private
- Deadline
- Ongoing
Program Scorecard
Competition, effort, and approval at a glance
Everything you need to win Rise Asset Development — Business Loans — $19
Not a marketing summary. The actual checklist, intel, and stack strategy reviewers look for.
- 5 rejection pitfalls reviewers flag — so you catch them first
- 6-document checklist with what each reviewer is actually checking
- 6-step application timeline with prep hours per step
- Insider tip from program officers on what separates winners
- 3-program stacking strategy to combine with compatible funding
- Success profile + evaluation criteria — exactly what reviewers score on
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How to Win
Insider tips, common pitfalls, and what successful applicants look like
Insider TipRise is designed for people conventional lenders turn away — having poor credit or no credit history is expected and not grounds for rejection. The character-based underwriting focuses on the applicant's character, business plan viability, and recovery/resilience narrative rather than financial history. Engage Rise's advisors early in the process — they provide hands-on business planning support at no cost. The $500 startup grant is only available to Youth Small Business Program graduates, so check if the youth program intake is open if you are eligible by age.
Rejection Pitfalls 5
- Business plan is not viable or the applicant cannot articulate a repayment pathway
- Business activity is illegal or violates Rise's program terms
- Applicant is not a Canadian resident
Success Profile
A Canadian entrepreneur who is managing or has managed mental health and/or addiction challenges, has a viable business idea or early-stage operation, lacks access to bank credit due to credit history or circumstance, and is ready to receive mentorship alongside the loan. Rise's 1,000+ loan history spans all Canadian provinces in sectors including food service, retail, trades, personal services, and online businesses.
Evaluation Criteria
Character-based underwriting: Rise advisors assess the applicant's character, resilience narrative, business plan viability, and commitment to the business — NOT traditional credit scores or financial history. Advisors are trained in trauma-informed practices. Eligibility requires self-disclosure of mental health/addiction challenges (kept confidential) and inability to access conventional financing.
Application Playbook
Step-by-step process, required documents, and expenses
Application Steps
Required Documents 6
Eligible Expenses 6
- Business startup and launch costs
- Equipment and tools for the business
- Initial inventory and supplies
- Working capital for operations
- Marketing and advertising for the business
- Professional fees (business registration, accounting basics)
Ineligible Expenses 4
- Personal living expenses unrelated to the business
- Refinancing of personal debts
- Activities unrelated to the stated business purpose
- Businesses engaged in illegal activities
Intake Periods
Rolling year-round with no fixed intake windows. Active programming in Ontario and Nova Scotia; national online delivery. Contact Rise directly to confirm current availability in your province.
Deadline Notes
Rolling intake year-round. No fixed application windows. Rise accepts applications on an ongoing basis. Active programming primarily in Ontario and Nova Scotia with national online reach — confirm local availability on risehelps.ca.
Open Application Portal →Ineligible Organizations
- Applicants who do not have mental health or addiction challenges (program is specifically targeted)
- Businesses engaged in illegal activities
- Non-Canadian residents
Funding Stack Strategy
Compatible programs, clawback risk, and combined funding potential
Compatible Programs
Clawback Risk
Low RiskStandard microloan terms — repayment required per agreed schedule. No grant clawback provisions (the $500 youth startup grant is non-repayable). Rise is structured as a charity with a mission to support repayment success, not debt collection.
How Rise Asset Development — Business Loans Compares
Side-by-side with similar programs
| Program | Amount | Difficulty | Payment | Deadline |
|---|---|---|---|---|
| Rise Asset Development — Business Loans | $500 to $10,000 | Easy | Loan | Ongoing |
| Futurpreneur Canada Startup Program | Up to $75,000 | Moderate | Loan | Ongoing |
| Ocean Supercluster | Up to $5 million | Hard | Reimbursement | Call-specific — no open... |
| Ontario Innovation Tax Credit | Up to 8% tax credit | Moderate | Tax Credit Offset | Ongoing |
| Commercial Façade Improvement Grant P... | Up to $12,500 (50% of costs) | Easy | Reimbursement | Annual Intake |
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Frequently Asked Questions
Quick answers to the questions founders most often ask about Rise Asset Development — Business Loans