OUR
PARTNERS
Immigrant Access Fund Canada is proudly
supported by:
HOW TO APPLY
1
Review the
Eligibility Requirements
Please visit www.iafcanada.org and
read our eligibility requirements to
make sure you qualify for an IAF loan.
On our website you can also watch our
video “Is an IAF Loan Right For You” to
help you get started.
STRATEGIC BANKING PARTNER
2
Download Application Form
You can download an application form
from www.iafcanada.org/apply-now. If
you prefer, the application form can be
emailed or mailed to you.
Follow Us Online:
3
4
Complete and Submit
Your Application
Complete and submit your application
along with the items listed on the
checklist. Submit your completed
application form by email at
[email protected].
5
Interview
Meet with loan program staff to discuss
your application. Your meeting may be
in person, over SkypeTM or by phone.
IAF LOANS
FOR IMMIGRANTS
Review Application Checklist
Review the checklist of documents
required for your application.
If you still have questions about our
application or eligibility requirements,
please call us at 1-855-423-2262 or
email [email protected].
Photocopies or scanned copies sent via
email are acceptable. Please do NOT
send us original documents. If possible,
please send your application form and
checklist documents in a single email.
help pay for courses and exams so
you can do the work in Canada you
once did abroad.
www.iafcanada.org
Immigrant Access Fund Canada is a registered charity.
(BN/Registration: 862367182RR0001)
CONTACT IAF
Micro Loans for
Internationally Trained Immigrants
www.iafcanada.org
TOLL FREE: 1-855-423-2262
WEBSITE:
Need help in French? Visit our website to
apply or learn more about our loan program
in French: www.iafcanada.org/fr/
www.iafcanada.org
Toll Free: 1-855-423-2262
REQUIREMENTS
FOR A LOAN
USE OF LOAN
The loan may be used for:
To be eligible for a loan, you must:
• You may borrow up to $10,000
• Short-term (two years or less) training
• Be an immigrant and a permanent resident,
provincial nominee, protected person, or Canadian
citizen
• The annual interest rate is Royal Bank of Canada
prime rate plus 1.5% and is set quarterly
• Have worked in another country in the field you
wish to return to
• Loan funds are advanced as you progress on your
licensing/learning plan
• Lack access to comparable financial resources
• Payments must be made monthly and will be taken
automatically from your bank account
• Exam fees with a professional governing association
• Travel expenses to write an exam or to take a
course not available locally
• Qualification assessments
• Professional association fees
• Not have an undischarged bankruptcy
• Books and course materials
• English or French language courses specific to
employment
• Living allowance during study time
• Other related expenses
An IAF micro loan can help you if you are struggling
to pay for the costs of your Canadian licensing
requirements or training.
Micro loans of up to $10,000 are available to
immigrants who do any type of work. People who
receive IAF micro loans are both skilled workers
and professionals.
IAF’s loan program is unique:
• Interest rate is low
• We can lend to people with low income
• Application process is quick
• Collateral is not required
• Credit history in Canada is not required
• Repayment terms are favourable
LOANS TERMS
& CONDITIONS
IAF loans can only be used to help you return to the
same or related work you had before you came to
Canada. IAF loans cannot be used to help you start a
career in a new field.
“
There was a time in my job
search that I started to doubt
myself. Thanks to an IAF loan, I
was able to pay for my Canadian
training which helped me gain
my confidence back. I work today
as a business analyst and it has
been real good. I know the future
is bright! I would recommend
IAF to newcomers anytime!
”
— Oladapo B., IAF Loan Recipient
To support your application for an
IAF loan you must:
• Have a plan that sets out what you will do to
be able to work in your field
• Know the steps you will follow to find
employment in your field
• Have English or French skills that allow you to
complete your learning plan
• You will need to sign a promissory note
• You have up to four years to pay back your loan.
Generally, your payments will be smaller (interestonly or higher) while you are completing your
licensing/learning plan (to a maximum of two
years), and principal and interest until your loan
matures. You will have to start making principal
and interest payments within 90 days if you:
• Find employment in your field
• Complete your licensing/learning plan, or
• Decide to not continue with your licensing/
learning plan
• Provide information about any program you
wish to take
• Your loan will be registered with a credit bureau
which will help you build your credit rating
• Have a reasonably good chance of obtaining
employment in your field
• You may pay your loan in full at any time with
no penalty
• Be committed to paying back the loan, with
interest
• Complete an application and satisfy all
requirements of the Loan Review Team
• There are no administration fees on loans
Since approval of your IAF micro loan is based
on many factors, you will be required to provide
personal references, demonstrate initiative, have
a strong licensing/learning plan in place, and be
willing to repay the loan.
For more information or for informational
materials in French, please go to
www.iafcanada.org