Claudia Hepburn
CEO, Windmill Microlending
Over 300,000 immigrants come to Canada each year. Many of these newcomers, who arrive with advanced education and professional backgrounds, must acquire Canadian credentials or licensing to continue their careers here. The process to get these credentials can be time-consuming and expensive, making it difficult for newcomers to integrate into life here and requiring them to work low-income jobs to get by.
Access to financing for credentials is a common challenge, and many newcomers aren’t aware that they may qualify for a loan outside of the bank. Microloans, for example, are relatively small low-interest loans offered to individuals who may not have access to traditional sources of credit.
Newcomers should know that help is available, and a microloan can be the most effective way to continue and invest in their careers.
Charities such as Windmill Microlending work to remove this barrier to employment by providing microloans of up to $15,000 to internationally-trained newcomers to help them continue their careers in Canada. Windmill works closely with clients to review their plans to return to their professions, and empower them to reach their career goals. With a 97% repayment rate and many clients tripling their income by the time their loan is repaid, a microloan can be a worthwhile investment for
many newcomers.
Newcomers should know that help is available, and a microloan can be the most effective way to continue and invest in their careers, especially with a charity focused on helping immigrants achieve professional success in Canada.
