Rise Asset Development encourages entrepreneurship as a means of inspiring economic independence for people who are overcoming mental health or addiction challenges.

The program provides loans of up to $25,000 to individuals who are not only overcoming their personal obstacles, but are trying to clear the financial hurdles of starting their own business.

That may sound like a somewhat clinical definition, but fortunately, as he did at Rise’s London launch announcement on Thursday (Oct. 17), Don Seymour is able to simplify the impact the program will undoubtedly have. And as is his style, Seymour, the executive director of WOTCH Community Mental Health Services, used a little personal truth to explain what Rise is all about.

In speaking to a crowd of dignitaries at the recently opened Richard Ivey Building — including Deputy Premier and London North Centre MPP Deb Matthews, Dr. Anne Snowdown, chair of the International Centre for Health Innovation at the Ivey Business School, and Sandra Rotman, who along with her husband Joe helped fund the creation of Rise — Seymour shared the story of his own brother, a man who years ago was dealing with internal demons.

His brother had been in recovery for a year when he took a business idea to credit union in Nanaimo, B.C., was given a credit card for $5,000, and was told if he missed one payment, it was all over. But in true Hollywood style, Seymour’s brother went on to own two auto repair shops and a pair of used car dealerships.

“He is succeeding all because someone took a chance and that is what we get to do now, take a risk on folks,” Seymour said. “Banks are conservative; they measure their risk. They call it risk; we call it taking a chance. With this, we get to take chances on people’s ideas, on their dreams and aspirations, and make them a reality.”

Through collaboration with the Ivey Business School and multiple community agencies — including WOTCH, Goodwill Industries, United Way of London & Middlesex, London Small Business Centre, Emerging Leaders, Mindyourmind and Youth Opportunities Unlimited (YOU) — London will become the third community to benefit from the Rise project, following Toronto in 2009 and Rise Ottawa earlier this year.

The model for Rise London is to meet the local community’s needs and by working through its partnerships, offer a working advisory group of senior leaders and business and social mentors. Well, and the loans too of course.

Hamid Razaghi knows first-hand how impactful that assistance can me. Razaghi was one of several Rise-supported businesses on-hand for the London launch and said it has been nothing but a great experience to be involved with.

Razaghi’s business, Hbd Baby, which provides accessories for new mothers and their babies, was launched just two months ago due to the financial assistance of Rise and the support and mentorship that comes along the way.

“They helped me financially, but more than that, set me up with different connections, set me up with a great mentor. I have just enjoyed everything about the experience,” Razaghi said. “I am big fan of this project. I think this should grow, I am glad it is opening in London.”

Razaghi said Rise should spread to other communities because the success of small businesses will help drive innovation and growth from not only a financial perspective, but a social one as well.

It was a point to which Jodi Butts, executive director Rise Asset Development, wholeheartedly agreed.

Butts said her vision of Rise is about creating “a pathway for inclusion,” making sure the economy is accessible to individuals who have often found it to be completely inaccessible.

A lot of the clients of Rise may have used their personal savings to launch their businesses, are maybe operating out of their homes, but then want to take their venture to another level. Unfortunately, they often don’t qualify for the more traditional idea of lending that banks typically undertake.

Rise, Butts said, takes a decidedly different approach to lending.

“Rise looks beyond your credit score; for us it is about character-based lending. We look at the whole person, where they are at in their lives and what they are trying to do,” Butts said. “We want them to be put in positions to succeed and contribute to the betterment of the community.”

And that speaks directly back to Seymour’s view of why Rise is destined to be as successful in London as it has been everywhere else. And while the goal is to help create successful business, Seymour is quick to add that even failure can lead to greater success.

“So what if someone’s idea doesn’t pan out? Too often in social services we enable and we protect. We don’t allow people to take risks,” Seymour said. “That is what is exciting about this; all we are doing is facilitating a process. It isn’t up to us whether they succeed or fail; it is just up to us to make sure they have all the supports to try.”

See the article here.