Immigration Loans Program For New And Recent Immigrant To Canada

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Canada welcomes thousands of new immigrants every year and the Government of Canada along with various financial institutions is ready to help you make the change. As a newcomer, you are definitely feeling burden and facing a financially challenging environment; your primary goal is to get control of your money to become a successful part of the new community, establish your family while staying in touch with your homeland to feel informed and secure. eLoan Canada has gathered some important information here about Canada’s immigration loans program for a new and recent immigrant to Canada, to help make your transition a little easier.

It’s a common myth that if you are a new Canadian and have not attained a status of a Canadian Citizen; you do not have the right and qualify for financial assistance and loans like mortgage loan, personal loan, car loan, business loan, credit cards and or other credit facilities. The good news is that every landed immigrant can get financial assistance and loans to improve job skills and obtain the credentials to work in Canada, besides applying for other loans that facilitate life for smoother operation and confidence if you can afford them, you may apply without any credit history.

There are several loan programs from Government and private sectors are available for new Canadian that will assist you to prepare for the job market and after getting a job and start earning. Besides federal loan programs, there are a variety of provincial loans that you can apply to, in case you need a small business loan to start a new business or purchase an existing one, you can check your possibility with the province and territory where you reside.

According to the Conservative Leader Stephen Harper (2009 report of the House of Commons Citizenship and Immigration committee);

“Federal loan program targets all those new immigrants, who may not have the credit history to qualify for private loans in the programs they need to get in, some of these programs can cost up to $25,000, may not qualify for support under existing programs such as Canada Student Loans Program and the Immigration Transportation Loans Program. He further states; the small investment in the future of new Canadians will strengthen the future of our economy for all the Canadians.”

According to Citizenship and Immigration Canada (CIC), The Immigration Loans Program provides refugees and protected persons with loans to cover the costs of medical examinations conducted abroad, transportation to Canada, travel documents, housing rental, telephone service deposits and the purchase of work tools, etc., on an easy to follow credit process, for more information and general enquiry you may call on the phone number: 1 888-242-2100

Getting a mortgage loan is a dream of every individual; you will find various lenders offer mortgage products specifically tailored to the needs of new immigrants and or even non-landed immigrants. While most financial institutions traditionally have insisted that new immigrants provide a down payment of at least 20% to 35%, there are now lenders who offer qualifying new immigrants or those who have been transferred to Canada by an employer, mortgages which feature a much lower down payment.

When we talk especially about no credit check personal loans, most of the short term loan lenders in Canada like payday loans want to push their product in today’s online environment, please don’t accept these types of quick cash loans because it may be possible, you don’t afford it in relation to your uncertain earning or job, if so. Otherwise, there is a recently launched GIC investment loan is getting popularly among people looking for personal loans for immigrants in Canada, it may be an ideal solution for all those Canadians who have not to build their credit history as a new Canadian immigrant, and looking for some productive financing that will help them to build credit beside receiving a GIC savings account ensures better financial future. You can start building your credit profile that will help you in getting any type of loan or credit facility from the best lenders and banks at the best rates you need in future. On the other hand, GIC investment loan also help those people who need credit repair loans in Canada to combat their debt problems and bad credit history, it will help in rebuilding good credit history by improving credit score.

The primary purpose of writing on the subject of immigration loan program is to enhance the confidence level of all those individual seeking Canadian immigration and want to find out how their foreign education and job training will help them in the Canadian market and what if they require financial help to cover the cost of any additional training and certification to get skill relevant work in their profession or trade, where immigrant loan program provides access to loans for such new Canadians. Moreover, if you are planning to settle in Canada but felt great concern about the personal financial issue, you may consult with the Citizenship and Immigration Canada (CIC) and ServiceCanada about the credit possibilities with the Canada immigration loans program that may fit your own situation prior to the arrival, you are also advised to check online through the province, and or territory’s website of your residence about provincial and territorial financial programs for newcomers and if you are a recent immigrant to Canada, contact loan and mortgage consultant near you to get advice on how you may qualify for financial assistance and loans aimed at new and recent immigrant to Canada. Above all, you will also meet a lot of new immigrants enjoying credit facilities, like a car loan, personal loan, student loan, mortgage, and credit cards products, ask them personally to get a piece of practical and authentic information and solution.

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4 thoughts on “Immigration Loans Program For New And Recent Immigrant To Canada

  • hello! I was so glad I found your website. my 2 kids and I are new here in Canada. I’m a single mom and I found it hard to stretch my meagre salary every month for all the bills since I haven’t found a good job w/good pay yet not unless I finish a course here. so, I want to enroll in the University next semester, apply for a mortgage w/ lower interest rates and a car loan so it will be easy for me and for my kids to attend work and school. I need your urgent help on this matter. thank you very much.

    • Dear Inocencia

      Hi, In my view every new immigrant should concentrate on building up his/her credit profile first where GIC Investment loan is ideal for you, it will help you in building up your good credit history to secure and enjoy future benefits, as your improved credit rating will provide you best possible rates from best lenders in the market.

      Otherwise, get the best paying job that you are looking for before applying for a mortgage and car loan, as you are financially tight at the moment without savings, especially mortgage lenders will hesitate in extending their credit facility to you.

      Moreover, you are also advised to contact Citizenship and Immigration Canada (CIC) by phone number: 1 888-242-2100 to get more updated information regarding the Immigration Loans Program available for new Canadian immigrants.

      I hope it will help you to understand what I mean.


  • Every new Canadian immigrant is eligible for a variety of benefits and credits like Canadian child benefit, provincial and territorial benefits and credits and for more information and benefits you should consult Canada Revenue Agency (CRA) website online.

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