Welcome to Windmill Microlending

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Welcome to Windmill Microlending

Windmill provides affordable low-interest loans to help skilled immigrants and refugees pay for Canadian accreditation, training, and career development.

Find out if you're eligible, let's get started.

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Loan Product

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Check Your Eligibility

Were you referred to Windmill by one of the following

CIBC

Learning Institution

Settlement Agency

None of the above

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What was the name of the settlement agency?

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What do you need the money for?

Career Change

Credential Recognition/ Relicensing

Credential Assessment

English/ French Courses

Relocation

Professional Development

Other

If you selected other, please specify

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What is your immigration status?

Canadian Citizen

Permanent Resident

Protected Person (Convention Refugee)

Provincial Nominee

Open Work Permit

Other

Check Your Eligibility

Have you had a Windmill loan before?

Yes

Check Your Eligibility

Have you had a Windmill loan before?

Yes

Are you an internationally-trained immigrant/ refugee requiring licensing, training, or relocation to achieve your career goals or have a minimum of one year of post-secondary work experience before coming to Canada?

Yes

Do you live in Canada?

Yes

Do you live in Quebec?

Yes

Do you currently have an undischarged bankruptcy?

Yes

See Results

Congratulations! You're Eligible!

Learn how a Windmill loan works

60 months

Your maximum loan term can be up to 60 months

Interest payments

You only pay interest payments for the length of your educational program (maximum of 24 months)

3 month grace period

Start principal and interest payments after 3 months of completing your educational program

No hidden fees or penalties

We don't charge any extra fees, and there are no penalties if you want to repay your loan early

Loan Repayment Structure

The timeline below indicates a reference to what each term means

How much are you looking to borrow?

(Click on the green dot below and slide it to change the value)

Loan Amount:

$2,000 $15,000

How long is your educational program?

(Click on the green dot below and slide it to change the number of months)

Educational Program Term

1 months 24 months

After you complete your educational program, how long do you want your principal and interest payments to be?

(Click on the green dot below and slide it to change the number of months)

Repayment Term

12 months 36 months

Great Job!

Based on your selection, you would be borrowing @LoanAmount.

Your interest rate will be 6.7% fixed for the term of the loan.

Your monthly interest payment would be $@LoanAmount_num*0.0645/12.

You would pay this for @LPterm_num+3 months in total: @LPterm while you do your training, and 3 months extra while you find a job.

After that, your payments would be $(@LoanAmount_num*0.0645/12*(1.005375)^(@PaymentTerm_num))/(1.005375^(@PaymentTerm_num)-1)

per month for @PaymentTerm.

Payments are withdrawn automatically from your bank account on the 15th of every month.

Note that these terms may change when we review your application. However, the interest rate will not change.

Do you want to get started on applying for a loan? It will take approximately 10 minutes and there is no obligation.

Turnkey Product

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See Results

Unfortunately, you are currently ineligible to apply for a Windmill Loan

To be eligible for a Windmill loan you:

1. Must be living in Canada.

2. Must be an immigrant with one of the following immigration status: Permanent Resident, Protected Person, Convention Refugee, Provincial Nominee, Canadian Citizen, Temporary Foreign Worker with an open work permit (living in Quebec).

3. Cannot have an active bankruptcy. Active consumer proposals or debt management programs are eligible if you can demonstrate at least 6 months of consistent payments on it.

4. Must be an internationally-trained individual who has completed post-secondary education outside of Canada and/or have a minimum of one year of post-secondary work experience before coming to Canada.

Have questions? Read our Frequently Asked Questions, found here.

For other eligibility-related inquiries, please contact us

It seems like you're not ready to start an application.

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If you change your mind, we'll be here to help you prosper

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0 100

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Congratulations!

You're one step closer to getting your career back on track

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