Bredin Centre for Career Advancement, in partnership with the Government of Alberta and Servus Credit Union, offers low-interest lending to internationally educated professionals.
The Servus-Bredin Microloans program provides loans of up to $15,000 to support internationally educated professionals to restart their careers in Canada. The microloans can be used for:
- Exam fees
- Licensing cost
- Professional fees
- Aiming for licensure or certification in alternative careers related to their education and skillset in skilled trades with compulsory or optional registration
- Seeking additional qualifications in their profession to facilitate labour market entry
- Pursuing certification in unregulated occupations
- Skills upgrading
- Books, study materials and work equipment
- Education and training programs of two years or less
- English language training as a pre-requisite for your studies
- Other costs related to continuing your career may be considered, such as a laptop for online courses
Key Features:
- An affordable rate of interest of just Prime + 1.5%
- Build credit history in Canada
- Available to clients across Alberta
- A manageable repayment period of up to four years with no penalty for an early payment
- Applicants must have a licensure accreditation plan
- Repayment for approved loans is 45-days after the loan is issued
- The maximum amount available for each applicant is $15,000. If applicants also have microloans from other programs, the total amount borrowed from all the programs together cannot be more than $15,000. If applicants pay back their first microloan, they may be eligible for another through the program.
Basic Eligibility:
To be eligible for a microloan, applicants must:
- Have the right to live and work in Canada
- Be a resident of Alberta
- Have professional-level education or training obtained outside of Canada
- Be unemployed or underemployed
- Have sufficient income or resources to make repayments on the microloan
For more information and to apply, CLICK HERE!
If you have any questions or need clarification, please email [email protected] or call 780.425.3730 EX:2289