Background
Rise is a Canadian organization that empowers individuals with mental health and addiction challenges to become entrepreneurs and transform their lives. Alongside a variety of training programs, mentorship and other tailored support, they manage a national loan fund that provides a critical pathway to business capital for people who face barriers to accessing traditional financing. Rise provides flexible, low-barrier loans and business support through a mental health-centred lens to help clients improve their well-being and succeed on their own terms.
Rise began as the Rotman-CAMH Social Enterprise Development Fund in 2010, founded by Sandra Rotman and her late husband, Joe, philanthropists affiliated with the Rotman School of Management. The fund initially focused on supporting individuals transitioning out of mental health programs at Toronto’s CAMH (formerly known as the Centre for Addiction and Mental Health), then extended its reach to other locations in Ontario.
Mission
Rise believes entrepreneurship is a powerful vehicle for building financial stability, improving health and well-being, and fostering personal agency. As a registered charity, they’re dedicated to empowering people who face intersectional barriers to meaningful employment, due to mental illness and other disabilities, through entrepreneurship. They address the gap left by policymakers, ensuring that Canada’s small-scale entrepreneurs can access the training and capital they need to thrive.
For their second stage of expansion, Rise worked with Deloitte’s pro-bono consulting services to develop a growth plan informed by a Mental Health Commission of Canada report that mapped the incidence of mental illness against the availability of supported employment services. From their headquarters in Toronto, they expanded to 10 cities across Canada. In 2020, due to the pandemic, Rise transitioned to a virtual model that enabled them to expand their reach from coast to coast. Today, they are headquartered in Toronto and maintain a national team of staff and Business Advisors, serving clients in all provinces.
Rise was the first organization that treated me as a human instead of a patient.
Financial Products and Capital Sources
Rise offers character-based loans of up to $10,000 at Prime + 2.5%, with terms of up to five years. Until recently, all loan capital was funded through philanthropy. To support their ambitious plan to triple loan volume over five years, Rise is now preparing to raise their first impact investment in 2025.
With support from Lift Philanthropy Partners, they developed a capital-raising roadmap to diversify funding. Given the amortized nature of their loans and a modest default rate, they recognized the need for additional loan capital to scale their impact. Rise is positioning itself for investment, supported by a track record in impact measurement and a well-performing loan portfolio. An ad-hoc board committee has been established to oversee the investment-readiness process.
Skills and Knowledge that support this work
Success in their work requires a blend of small business expertise and deep empathy. Rise Business Advisors provide personalized, trauma-informed support, including extended one-on-one coaching and flexible loan terms to accommodate both business and mental health-related setbacks. They also offer an online platform where clients can access peer support and guidance from business and wellness professionals.
This tailored approach has enabled Rise to maintain an 85% repayment rate, with 10% of clients returning for a second loan.
Rise is engaged in the community. It’s there. It shows up … It’s about giving second chances and believing in individuals when no one else does.
Impact looks like
Rise measures social impact in three dimensions: personal, professional, and financial well-being. According to their most recent Impact Report and 2024 Social Impact Results:
- 80% of clients report increased confidence in taking on new challenges.
- 75% feel a greater sense of purpose in their life’s direction.
- 87% of clients report more personal growth opportunities.
- In FY24, more than 120 clients joined 37 events on their virtual support and engagement platform, the Rise Community, to learn entrepreneurial skills and access relevant learning.
By the numbers
- Since 2010, Rise has disbursed more than 1,000 loans totaling over $4 million.
- Over the course of our most recently completed strategic plan (2021-2024), they more than doubled client reach (111%) and increased the number of loans they disburse annually by 75%.
- More than 90% of our clients are solopreneurs (i.e. self-employed with no employees).
- 60% of Rise clients identify as women; 29% identify as men; and 11% identify as non-binary.
- 62% of clients identify as racialized (6% Indigenous).
Photo by Illiya Vjestica on Unsplash