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About Us
Are you an ex-offender who has been having difficulty finding productive and gainful employment? Perhaps you have an idea for a small business and would like to work for yourself, but just need a bit of capital to get started. Restored Potential, Inc. offers small micro-loans to help you buy some tools or inventory or equipment to get going.
Almost 4 million Canadians have a criminal record. Organizations are often reluctant to hire staff with a criminal record, regardless of a person’s prior employment and personal history and without regard to the particulars of the offence. A criminal record is an automatic disqualification from many jobs.
The founder of Restored Potential, Inc. found out that, in spite of a long, productive career, he was unable to gain employment on his release from the justice system, in spite of his offence being unrelated to any his career. He spent years piecing together a small income with a combination of modest entrepreneurial skills and capital provided by supportive family members. Many ex-offenders do not have those particular supports.
There is a business case to help ex-offenders and also a social case. By helping people become productive again, we reduce the risk that people will re-offend. By some estimates, employment, including self-employment halves the chances of recidivism. Reducing crime in our communities reduces the cost to victims, police, the courts, and the correctional system. People working at their potential also have better incomes, contributing more to the economy in their spending and in their taxes.
Services
Our Mission
Our Vision
Our Values
Mission
The mission of Restored Potential is to help people who have been released from the justice system to maximize their contribution to society and the economy and, thereby, to make their own lives better.
Primary Service
Micro-financing for self-employment, supplemented by business mentoring.
Micro-Financing Program and Entrepreneurship Training
During the intake process, the Executive Director would identify those clients who might be better suited to running their own small business than returning to a salaried position.
The candidates for micro-financing would prepare a business plan to be reviewed and underwritten by the Executive Director. Whenever possible, Restored Potential, Inc. will give guidance in writing a business plan. Those who are not approved will be encouraged either to enter the employment placement program or start from scratch on a new business proposal.
The underwriting criteria for the loans is not as strict as one would expect from a commercial lender. A difficult credit rating, for example, would not automatically disqualify an applicant.
To help micro-loan recipients succeed, Restored Potential will recommend local or online training to fill specific gaps in the client’s business skills. Where possible, clients will be paired with business mentors.
Benefits
- Reduced recidivism
- Reduced strain on social programs
- Productive citizens who contribute to the economy and the tax base
