Moving to a new country comes with its own set of challenges, and finding the right job or continuing your career journey in Canada can feel overwhelming. Whether you are looking to requalify for a profession from your home country or take a new direction, the Global Talent Loans (GTL) program from ISSofBC is designed to help newcomers like you take the next step toward career success.
Affordable financial support for your career goals
A common barrier many newcomers face when trying to advance their careers in Canada is the cost of re-credentialing or education. You might be concerned about how to pay for courses, certifications, or other essential training. The Global Talent Loans program offers low-interest loans to help you cover these costs, making it easier for you to achieve your career goals without financial strain.
With loans of up to $30,000, you can use the funds to pay for tuition, training, books, supplies, and even equipment like laptops. The program is designed to fit your needs, allowing you to focus on learning and growing your career instead of worrying about how to find ways to save money to pay for your education.
Flexible loan terms to meet your needs
The Global Talent Loans program is designed to be flexible. Clients can apply for multiple loans—up to 10 loans—and receive a total of $30,000, depending on their educational and training needs. This flexibility allows you to break down your financial support into smaller portions, making the repayment process more manageable as you work towards your goals.
What’s more, newcomers to Canada often face a rigorous credit check when applying for loans directly through banks, which can lead to higher interest rates. With Global Talent Loans, this challenge is minimized, as the program offers loans at a low prime interest rate. This makes it easier for you to get the financial support you need, without the burden of excessive interest rates.
Furthermore, some training programs and courses are not eligible for government student loans or scholarships, leaving newcomers without access to financial support. This is where the Global Talent Loans program fills the gap, providing financial assistance for courses and programs that may not be covered by other options.
Comprehensive support: financial and career development
This program is more than just financial assistance. As a participant, you’ll receive personalized support from a case manager, who will help you create a training plan that aligns with your career goals. Whether you’re looking to return to your previous profession or explore new opportunities, your case manager will guide you through every stage, from planning your training to securing a job.
Moreover, as part of the Global Talent Loans program, all clients receive free financial courses specially designed by Vancity Bank. These courses will help you better understand important financial concepts, such as credit, loans, and other aspects of financial education that are especially beneficial for newcomers. This support will help you gain a stronger foundation as you build your career and make informed decisions about your financial future.
In addition to the financial courses, the program also offers ongoing career counselling and job search support, including connections to employers in your field. This comprehensive support ensures that you’re not just taking out a loan; you’re gaining access to the tools and resources you need to thrive in your new career in Canada.
Who can benefit from the Global Talent Loans Program?
The Global Talent Loans program is open to newcomers who meet the following criteria:
- Permanent residents (PR), naturalized citizens, or granted refugees in Canada.
- Those with post-secondary education from outside Canada.
- Residents of British Columbia.
If you have faced challenges accessing financial support from other sources, such as government student loans or scholarships, this program can be the answer. It provides a unique solution for individuals who need help covering the costs of re-credentialing or pursuing educational opportunities.
How to apply: simple steps to get started
Applying for the Global Talent Loans program is straightforward:
- Register Online: Begin by completing an online registration form and attending an information session to learn about the program.
- Eligibility Check: Your eligibility will be verified through a pre-screening process, where you’ll need to provide documents like ID and proof of your education from outside Canada.
- Work with a Case Manager: You’ll meet with a case manager to develop a personalized training plan and financial assessment.
- Complete the Loan Application: Your case manager will guide you through the application process with Vancity Bank, including submitting necessary documents such as bank statements, ID, and employment records.
Supporting your financial stability
We understand that life can be unpredictable, and sometimes repaying loans can become challenging. If you’re struggling to make payments, ISSofBC is here to support you. We can work with you to adjust your payment plan or help you find new job opportunities, ensuring you stay on track to achieve your career goals.
Real impact, real success
Since its launch, the Global Talent Loans program has helped more than 520 clients take control of their careers. Many clients have successfully completed their re-credentialing or training and have found meaningful employment in their field. One participant shared, “The loan helped me finish my certification without worrying about paying upfront. It gave me the chance to focus on finding a job that matched my skills.”
By providing affordable financial support and ongoing career development services, the Global Talent Loans program offers newcomers the chance to build a better future for themselves and their families.
Why choose the Global Talent Loans Program?
The Global Talent Loans program stands out because it offers low-interest rates and flexible repayment terms of up to 7 years. This, combined with personalized case manager support and access to career counselling, makes the program an excellent choice for newcomers looking to invest in their professional development.
If you’re ready to take the next step in your career, whether it’s returning to your previous profession or exploring a new field, this program can provide the financial and professional support you need to succeed in British Columbia’s job market.
