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Canada Immigration Loan Process (LLP)


canada immigration loan eligibility check

Last Updated On : November 13 , 2024


The Immigration Loans Program (ILP) is a financial assistance initiative designed to help individuals manage the expenses linked to immigration processes. These include Express Entry fees, immigration consultant fees, and other related expenses. The program is designed to make the immigration journey more accessible and affordable for those in need.

The maximum loan amount that can be issued per family is CAD 15,000.

Types of Canada Immigration Loan

What Does Canada Immigration Loan Cover?

  • Transportation loan for Canada.
  • Establishment assistance loan.
  • RPRF fee loan.

Who is Eligible to Apply For a Canada Immigration Loan?

As per Section 289 of the IRPR, eligible applicants for a Canada immigration loan include foreign nationals applying for permanent residence under any category, as well as Convention refugees, persons in need of protection, and their beneficiaries.

The following individuals are eligible to apply for this loan:

  1. Convention Refugees and Persons in need of Protection:

    2. These individuals have special status under international conventions and Canadian law, granting them protection and potential resettlement.

  2. Canadian Citizens and Permanent Residents:

These individuals can apply for loans on behalf of a beneficiary who is a foreign national.

Can A Skilled Worker Apply For Canada Immigration Loan?

No, economic immigration programs require applicants to demonstrate sufficient funds to support themselves and their families upon arrival. Therefore, immigration loans are typically not approved for this category.

There are a few exceptions, such as skilled workers who are refugees and can apply for loans on a pilot basis.

How Can I Get Canada Immigration Loan?

Immigration loans may be authorised when an applicant demonstrates a genuine need for financial assistance to cover the costs associated with immigration, such as travel, right of permanent residence fees, and initial settlement expenses.

Immigration authorities assess the applicant's financial standing, including income, assets, and liabilities, to verify their ability to meet loan obligations and immigration costs.

Who Has The Authority to Approve Immigration Loan?

Designated IRCC officers can approve immigration loans based on the applicant's eligibility and assessment of their ability to repay.

Canada Immigration Loan Procedure

A summary of the key procedures involved in immigration loan applications, including:

  • Determining Loan Need & Repayment Ability: The assessment process to determine if a loan is necessary and if the applicant can realistically repay it.
  • Loan Signing & Approval: Details on the authority required to approve and finalise an immigration loan.
  • Loan Counseling: Information on the guidance and support provided to applicants throughout the loan process.
  • Loan Payment & Collection: An overview of the repayment and debt collection procedures related to immigration loans.

Once you have completed 12 Months in Canada, you have to make your first immigration loan payment.

Final Thoughts:

The above information should have made you well aware of Canadian immigration loans. If you still have questions about this topic, contact our immigration consultant, who will answer all your queries.

Reference:

Canada Immigration Loan

Eligibility for an immigration loan

Questions Related To Canadian Immigration Loan

FAQ:

According to IRPR, people who depend on the loan applicant, such as children, spouses, partners, and others, can be beneficiaries.
The applicant's employment or transferable skills and the number of family dependents are the main factors. Additional factors include age, willingness to participate in the labour market, and current debt load.
Officers can verify existing loans through the Global Case Management System (GCMS), the Immigration Program Accounts Receivable (IPAR) system, or by contacting Collection Services.