The Micro-Loans Program offers three types of loans to help individuals with different needs:
Back to Work Loans:
Support individuals who had a career or work specialty in their home country and wish to work in a similar field in Canada, but require skills upgrading or certification to do so.
With These Hands Loans:
For equipment and tools to help individuals enter a trade or profession, and for self-employment program graduates intending to work as self-employed service providers (e.g. massage therapists, consultants or carpenters).
Peer Lending (Circle Lending):
For a group of peers who all launch micro-businesses, network with and support each other, and provide monthly opportunities to share business-development ideas.
Be My Own Boss Loans:
The program is designed for entrepreneurs who have a solid business idea, a business plan and have completed a self employment course. The Micro Business Loan is ideal for individuals who have previous business experience in their home country or individuals who have good knowledge of business in general, however don't qualify for loans from traditional banks.
Micro-loans range from $500 to $5,000.