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Rise Asset Development pilots group microfinance program for individuals with mental health, addiction challenges. TORONTO, ON – Starting a business can be challenging for any entrepreneur but for those with a history of mental health or addiction issues, the task can be even more daunting. But a program from Rise Asset Development, a financial initiative of Uof. T’s Rotman School of Management and the Centre for Addiction and Mental Health (CAMH), is providing micro financing and mentorship to entrepreneurs facing these extra challenges. The Toronto- based not- for- profit is piloting a group lending program with help from several community organizations and the Citi Foundation. The pilot group lending program seeks to leverage the sense of community and support offered in a group setting.
Rise will work with lending groups affiliated with organizations such as transitional homes and mental health organizations to support business growth. The program builds on the individual lending program by Rise Asset Development.“Though we are still at the pilot stage, we anticipate demand for this unique approach to mirror that of our original individual program,” says Narinder Dhami, Executive Director of Rise Asset Development. The organization recognizes the interdependency of financial well- being to one’s overall quality of life.
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Rise is committed to improving the lives of people who are unable to secure employment due to mental health or addictions challenges. Rise, with the support of the Rotman School of Management and the Centre for Addiction and Mental Health (CAMH), provides microfinancing and mentorship to men and women living with mental illness and addictions who are interested in pursuing self- employment. Rise offers business loans, leases and other investments, based on stage of development, needs and capacity, including business financing up to $2. Ontario, with average initial financing from $3.
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Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. In Canada, Citi employs approximately 3,4. Additional information may be found at www.