Windmill Microlending continues to provide loans and support through COVID-19

Credit to Author: Canadian Immigrant| Date: Tue, 31 Mar 2020 18:04:29 +0000

Windmill Microlending is a Canadian registered charity offering low-interest and 0% interest loans to immigrants and refugees across Canada since 2005. Its loans help newcomers pay for the credentials, training, licensing, exams or courses they need to continue their careers in Canada.

Although Windmill Microlending’s offices are closed due to the COVID-19, all members of staff are working from home. Clients are being served remotely –via telephone, email and video, as it is already the case for most of our client interactions.

Even during these challenging times, empowering skilled immigrants to achieve economic prosperity by providing microloans and support continues to be our top priority. And, at Windmill Microlending, it is business as usual. We are accepting applications, conducting interviews, supporting clients and approving loans. We know that with our help when the economy rebounds, more newcomers will be ready to access licensing, credentials and training.

During the crisis, all Canadians –especially newcomers – are facing significant financial stress and uncertainty. As a result, Windmill Microlending introduced three measures to help its clients.

– If their income has been affected, clients have the opportunity to defer payments on their loan principal for up to three months and make interest-only payments during this time.

– If they have received approval for a loan but are waiting to see what will happen with their program,

clients can delay the disbursement of the loan. They will save money by not paying interest during that period.

– Even though Client Success Coaches regularly help clients make good decisions, they are here to support clients navigate the variety of government financial support programs now being put in place.

At a time when all Canadians are worried about their health, their family and their finances, we know that newcomers who are underemployed and/or working in sectors facing layoffs are particularly vulnerable. As always, our primary goal is their success. We will continue to offer solutions to help newcomers through this time because Canada needs their skills and experience now more than ever.

To find out if you are eligible for a Windmill loan visit

https://windmillmicrolending.org/applicants/eligibility/

To defer payments or delay the disbursement of a loan, please contact the Loan Management Team at loanmanagement@teamwindmill.org

To reach Windmill Microlending: Toll-free at 1-855-423-2262 or info@teamwindmill.org

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