What is the provision of micro loan to the poor entrepreneurs and small businesses lacking access to banking and related services, offered by a company that helps  entrepreneurs living with mental health and addiction challenges who are interested in pursuing self-employment?
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Rise Asset Development Rise provides microfinancing and mentorship to entrepreneurs living with mental health and addiction challenges who are interested in pursuing self-employment. Business loans, leases, and other investments are offered depending on the stage of development, needs and capacity of each business. Rise provides business financing up to $25,000 throughout Ontario, with financing averaging from $3000 to $5000. The Rotman School of Management and Centre for Addiction and Mental Health participate in advisory functions, lending their respective expertise for business mentoring and mental health supports and services to the benefit of Rise clients. In January 2012, Rise received the Social Entrepreneurship in Mental Health Equity Award for Toronto social enterprises advancing mental health equity.
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Microfinance Micro finance initially had limited definition - provision of micro loan to the poor entrepreneurs and small businesses lacking access to banking and related services. The two main mechanisms for the delivery of financial services to such clients were: (1) relationship-based banking for individual entrepreneurs and small businesses; and (2) group-based models, where several entrepreneurs come together to apply for loans and other services as a group.
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SMART Recovery SMART Recovery (Self Management and Recovery Training) is an international non-profit organization which provides assistance to individuals seeking abstinence from addictive behaviors. The approach used is secular and scientifically based using non-confrontational motivational, behavioral and cognitive methods. Meeting participants learn recovery methods derived from evidence-based addiction treatments. Substance/activity dependence is viewed by the organization as a dysfunctional habit (rather than a disease), while allowing that it is possible that certain people have a predisposition towards addictive behavior.
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List of microfinance sponsors Microfinance sponsors are organizations that facilitate small loans, typically in developing countries. The process is often called "peer to peer" lending. They handle loan administration on behalf of others including individual lenders and lending agencies, but do not loan their own money.
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Credit counseling Credit counseling (known in the United Kingdom as Debt counselling) is commonly a process that is used to help individual debtors with debt settlement through education, budgeting and the use of a variety of tools with the goal to reduce and ultimately eliminate debt. Credit counseling is most often done by "Credit counseling agencies" that are empowered by contract to act on behalf of the debtor to negotiate with creditors to resolve debt that is beyond a debtor's ability to pay. Some of the agencies are non-profits that charge at no or non-fee rates, while others can be for-profit and include high fees. Regulations on credit counseling and Credit counseling agencies varies by country and sometimes within regions of the countries themselves. In the United States, individuals filing Chapter 13 bankruptcy are required to receive counseling.
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Revolving Loan Fund A Revolving Loan Fund (RLF) is a source of money from which loans are made for multiple small business development projects. Revolving loan funds share many characteristics with microcredit, micro-enterprise, and village banking, namely providing loans to persons or groups of people that do not qualify for traditional financial services or are otherwise viewed as being high risk. Borrowers tend to be small producers of goods and services — typically artisans, farmers, and women who have no credit history or access to other types of loans from financial institutions. Organizations that offer revolving loan fund lending aim to help new project or business owners become financially independent and eventually to become eligible for loans from commercial banks.
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MobiKwik MobiKwik is an Indian company founded in 2009 that provides a mobile phone based payment system and digital wallet. Customers add money to an online wallet that can be used for payments. In 2013 the Reserve Bank of India authorized the company's use of the MobiKwik wallet, and in May 2016 the company began providing small loans to consumers as part of its service. The company launched its MobiKwik Lite mobile app in November 2016, designed for users of older 2G mobile networks and for those in areas with poor internet connectivity. In November 2016, the company reported having 1.5 million merchants using its service and a user base of 55 million customers.
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Samasource Samasource is a non-profit business with the mission to reduce global poverty by outsourcing digital work to unemployed people in the United States and impoverished countries. One of the first organizations to engage in impact sourcing, Samasource uses an internet-based model called "microwork" to break down large-scale digital projects from clients into smaller tasks for workers to complete. These workers are trained in basic computer skills and paid a local living wage (as determined by the Fair Wage Guide) for their labor. Samasource has been named one of Fast Company's "Most Innovative Companies" and counts Walmart, Google and eBay among its clients.
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MicroConsignment The MicroConsignment Model (MCM) establishes profitable income generating opportunities (and the infrastructure and network for a national, local social enterprise) for primarily women that to date are selling products such as wood-burning stoves, reading glasses, water filters, seeds and gardening techniques and energy efficient lightbulbs to villagers. Through the MCM local individuals with entrepreneurial qualities can start their own business through “sweat equity” and realize profits from inception. Although it rarely works in practice, the model allows for collaboration with local strategic partner organizations to adapt local solutions and train and support local entrepreneurs who serve rural communities within designated territories. What drives the model is an interdisciplinary, intuitive and non-linear approach whereby all stakeholders add value. The model utilizes a rotating capital mechanism with low start-up costs that are continually reinvested. In essence, the MCM strives to intervene at all levels by creating an “ecosystem” whereby problems are diagnosed and products are encountered/designed which are then inserted into the distribution model via the locally trained and supported entrepreneurs.
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Rivers State Microfinance Agency The Rivers State Microfinance Agency, locally referred by its abbreviation RIMA, is a government body providing a range of services including financial, business and social support to institutions such as microfinance banks and entrepreneurs who lack access to adequate income in Rivers State. The agency was formed with the enactment of the Microfinance Agency Law No. 6 of 2008 by the Rivers State House of Assembly. The agency's primary purpose is to create employment and reduce poverty. Among its objectives are "developing human capacity and instituting a sustainable framework of reaching out to the active poor."
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International Charity for Africa ICAfrica (International Charity for Africa) is a Canadian NGO and charitable organization delivering community level poverty alleviation support through small enterprise economic development. ICAfrica provides micro-loans, tools, small-business coaching and skills training to small but promising entrepreneurs, especially women, in sub-Saharan Africa so they can grow their small businesses, create employment opportunities for themselves and others - men & women (parents) and young people in Africa, and help reduce poverty on the continent. ICAfrica's approach is that when people earn fair wages, they are able to provide their families with basic needs, such as food, housing, clothing, health, and education.
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Opening Doors to Recovery Opening Doors to Recovery is a project to provide case management and mental health services to adults with mental illness in southeast Georgia, United States. The project is led by National Alliance on Mental Illness Georgia and funded by several private and public organization. Emory University and the Georgia Department of Behavioral Health and Developmental Disabilities (DHBDD) are also participants in the project.
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Silver upholders Silver Upholders Limited is a fast-growing microfinance organization based in Kampala, Uganda. It offers small loans to underserved women entrepreneurs who use the money to invest in the future of their businesses and their families.
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LendingTree LendingTree is an online lending exchange that connects consumers with multiple lenders, banks, and credit partners who compete for business. LendingTree is not a direct supplier of loans; it is instead a broker. Since being founded in 1998 LendingTree has facilitated more than 32 million loan requests . It is headquartered in Charlotte, North Carolina.
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Youth Projects Youth Projects is an independent, not-for-profit organisation founded in Melbourne, Australia. The goal of youth projects is to create life changing opportunities for every young person, working with them to build resilience, promote inclusion and ultimately empower them to overcome disadvantage. Youth Projects provides a broad range of services designed to enable a holistic approach to tackling social disadvantage, homelessness and drug and alcohol issues including health and education programs, community outreach and training and employment services.
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Prevail Health Solutions Prevail Health Solutions is a Chicago-based health care technology company that has created a system for online delivery of evidence-based mental health care. The company aims to create greater access to cost-effective therapy for those who have difficulty seeking and receiving adequate treatment. Prevail was founded in January 2008 by Richard Gengler then an MBA student at University of Chicago. It was born out of the need to provide effective and accessible mental health care to the growing number of veterans returning from Iraq and Afghanistan. Gengler, a former US Navy pilot, leveraged his background to create a unique delivery model to bring mental health treatment to returning troops.
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Loan In finance, a loan is the lending of money from one individual, organization or entity to another individual, organization or entity. A loan is a debt provided by an entity (organization or individual) to another entity at an interest rate, and evidenced by a promissory note which specifies, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower.
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DTOX DTOX is a mobile smartphone app marketed as an aid for people with addictions. The company that makes and sells the app was founded in 2012 by Rae Dylan, a substance abuse counsellor.
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Solidarity lending Solidarity lending is a lending practice where small groups borrow collectively and group members encourage one another to repay. It is an important building block of microfinance.
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Zombie bank A zombie bank is a financial institution that has an economic net worth less than zero but continues to operate because its ability to repay its debts is shored up by implicit or explicit government credit support. The term was first used by Edward Kane in 1987 to explain the dangers of tolerating a large number of insolvent savings and loan associations and applied to the emerging Japanese crisis in 1993. A zombie can continue to operate and even to grow as long as creditors remain confident in the relevant government's ability to extract the funds needed to back up its promises from current or future taxpayers. But when this ability seems doubtful, zombie institutions face runs by uninsured depositors and margin calls from counterparties in derivatives transactions.
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Service bureau A service bureau is a company that provides business services for a fee. The term has been extensively used to describe technology-based services to financial services companies, particularly banks. Service Bureaus are a significant sector within the growing 3D Printing industry that allow customers to make a decision whether to buy their own equipment or outsource production. Customers of service bureaus typically do not have the scale or expertise to incorporate these services into their internal operations and prefer to outsource them to a service bureau. Outsourced payroll services constitute a commonly provisioned service from a service bureau.
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Stash (company) Stash is an American financial technology company offering a mobile app with micro-investing services. It aims to simplify investing and make it more accessible.