Should I Apply?

First determine if you are eligible for the program

Are you eligible?

To determine if you are eligible to receive business financing from Rise Asset Development, answer Yes or No to the questions below.

Step 1

Do you self-identify as an individual who has experienced mental health and/or addiction challenges?
Are you able to acquire financing from a bank?
Do you agree to pay back your loan or other investments?
Do you agree to provide brief progress reports and share financial records?

Please continue to Step 2

Step 2

Are you in active bankruptcy?
Are you behind on your child support payments?

Call us if you require more information.

The Process

  • Step 1

    Enter a small business development program to build a business plan.

    - OR -

    Have an established business plan or small business experience.

  • Step 2

    Check your eligibility to receive financing from Rise:

    • Through online questionnaire.
    • Call or email Rise.
  • Step 3

    If you are eligible for financing, fill and submit a Rise application. Include your business plan with the submission.

    • Contact Rise staff if you require help in the process.
  • Step 4

    Meet with a Rise financing officer.

    • Answer all follow up questions and provide supporting documentation as required.

Fill out an application.



What types of financing does Rise provide?

• Loans
• Leases and insurance
• Lines of credits

How do I know which type of financing is best for my business?

The type of financing depends on your business. We offer many different types of financing - from loans and leases to lines of credits.

Don’t worry if you are not sure what type of financing you need. Our team will work with you to help determine the best type of financing for you and your business!

Take a look at the examples on the “What we do” page to learn more.

How do I know if I am eligible for financing from Rise?

To be eligible for financing from Rise, the entrepreneur should:
• Be interested in self-employment
• Self-identify as an individual who has experienced mental health and or addiction challenges
• Unable to acquire traditional bank financing for your business
In addition, clients should not be in active bankruptcy or behind on child support payments.

What documentation do I have to provide for financing to be initiated?

• Rise application form
• Your business plan or action plan
• 12 month projected cash flow
• Business registration
• Legal Canadian status
• Photo ID
• Confirmation of home address
Further documents will be required throughout the process.

When do I need to pay back the money that I borrowed? What is the repayment schedule?

The term of the financing varies with each client. A lot depends on the needs of your business. Rise provides a maximum term of 3 years.

How much does it cost? What is the interest rate and application fee?

Rise does not charge an application fee.

There is a 3.5% fixed interest rate on all financing.

For a loan of $2,000 for 2 years, your total interest rate (spread throughout the three years) is approximately $ 74.

For a loan of $5,000 for 3 years, your total interest rate (spread throughout the three years) is approximately $274.

What collateral do I have to provide?

Rise uses your business inventory and/or leased equipment as collateral for financing.

What happens if I get sick during the financing?

Under special circumstances, including health problems or other emergencies beyond your control, you can request in writing to delay one or more payments. This request must be accompanied by third-party documentation, such as a doctor’s note or other proof of an emergency, and will be granted at our sole discretion. Should this period be extensive, we may require that you repay the remainder of the financing immediately or provide us with business assets in the form of receivables, inventory or other goods of equivalent value.

Is there a penalty on late payments?

There is a penalty of 10% of the late payment, or $25 (whichever is greater), for any late payment.

How will my income support from Ontario Disability Support Program (ODSP) or Ontario Works (OW) be affected by Rise financing?

The business financing is not considered personal or business income and will not affect your ODSP or OW payments. However, business profits in the subsequent months should be reported following the ODSP/OW rules. You can find more information on how to report your business income to ODSP on this site.

Please note that we do not report directly to your ODSP or OW case worker.

Where does Rise work?

Rise works throughout Ontario.

Do I need to charge tax to my clients?

Yes. As a business owner you must collect the 13% HST on all taxable supplies of property and services that you provide to your customers.

When you start your business, you generally need to register for GST/HST if your total revenues from taxable supplies exceed $30,000 in a fiscal year. However, if you expect your business revenue to be less than $30,000, you don’t need to charge GST to your clients. Once you register for GST/HST, the CRA will assign you the reporting period in which you are responsible to file your GST/HST returns.

Even if you don’t expect your revenue to be greater than $30,000 in your first year of business, you may want to consider applying for a GST/HST number and charge tax anyway. Not collecting taxes may send a mixed message to your customers that your business is very small and that may not be the impression you want to give. Once you charge tax, you’ll be able to get back the GST/HST you pay on the goods and services your business buys.

For further information on GST/HST, please refer to the CRA guide here.

How do I register my business in Ontario?

If you will be using a business name that is different from your full name or the name of your corporation, then you will need to register that business name. The cost to register your business ranges from $60 to $80. You can complete an optional name search and register your business:
•Through Service Ontario’s Website
•In person at a Service Ontario centre
•By mailing an application to the address indicated on the form
For more information on business registration, please refer to the Service Ontario’s website here.

If I do not have a history of mental health and/or addiction challenges, how can I access support (financing and business advice) to help grow my small business?

1. For individuals who do not self-identify with a history of mental health and/or addiction challenges and are unable to access financing from mainstream financial organizations, we encourage you to explore other Ontario based community loan funds. You can connect directly to: Access Community Loan Fund, Ottawa Community Loan Fund, Miziwe Biik Aboriginal, Alterna Savings and PARO Centre.

2. Access our free online resources to assist you in growing your business.