The Microloans Program supports Canadian newcomers who may not qualify for loans through the traditional banking network. In partnership with Vancity, immigrants or refugees who may not have a credit history in Canada can apply with different approval criteria.
Our goal is to breakdown the financial barrier & access to funds to support the dreams and aspirations of new Canadians.
Here are some details regarding the 3 different types of loans available:
Be My Own Boss Loan
Designed for those who wish to start their own business. In order to qualify, participants much develop a business plan with a budget and cash flow projection. The maximum loan amount is $35,000.
With These Hands Loan
Assist individuals to buys tools or equipment to enter a trade, or start a self-employed business, for example, carpenters or massage therapists. The loans range from $500 to $7,500.
Back to Work Loan
Support those who had a career in their home country but for lack of Canadian certification, they are unable to find employment in the same field. The loans range from $500 to $7,500.
If you are in need of small business advice, a small loan or would like assistance, come chat with us.
For more information, please contact: