RISE Business Academy

In 2023, RBA Graduates established or improved 14 businesses. Of those, some were set up by family members of incarcerated individuals to provide a source of pride and employment for their loved ones upon their reentry. Others with direct lived experience have taken pride in their businesses to stay out of incarceration and build a legacy for their young families. Still, others have found purpose and empowerment through business ownership for themselves and their children to escape incarceration. We even served a large family who were inspired to start and grow their businesses after they attended the business pitch competition and graduation of one of their family members who is currently incarcerated.

In September, the Nebraska Enterprise Fund collaborated with RISE to launch the RISE Microloan Fund exclusively for RISE Business Academy Graduates. People with certain charges on their records cannot receive a loan with some loan funds, regardless of their credit scores, use of funds, or collateral. Our loan fund will allow qualifying Graduates to apply for funding regardless of their records.[1][2]

This year was a massive win for RBA Graduate “Glen.” His employer approached him to become a partner in the business. Glen knew the business had plenty of clients and sales, but he had not seen the books. Glen was paired with a business mentor with accounting expertise who helped him review the books. They didn’t look good. He called a meeting with his business mentor, a Corporate Attorney who volunteers with RBA, the Director of RBA, and his employer regarding the partnership. During this meeting, the employer revealed that the business was bankrupt. This revelation saved Glen from investing his money into an insolvent business. Instead, he started his own business in the same industry and even hired some former co‑workers!

Stories like Glen’s show how volunteers and community partners with expertise and pro‑bono or low‑cost services, assistance, and support are key to some of our Participants' struggles as they start and grow their businesses. Having someone to walk alongside them in their businesses’ startup and growth phases and getting adequate funding for their businesses are crucial to their success.[3]