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Category: Microcredit | By SDR, 8-Oct-2019 | Viewed 566  Comments 0 | Source Jeni Piepgrass
Windmill Client

Windmill Microlending: converting potential into prosperity

We offer affordable microloans of up to $15,000 to skilled immigrants who are working to restart their careers in Canada. Windmill Microlending is a Canadian charity that is putting the power of microfinance to work to generate impact here in Canada.  Our program is available in every province and territory, helping new Canadians achieve their professional goals and contribute fully to our communities and our economy.

Microfinance supports economic inclusion in Canada

Each year, Canada welcomes over 180,000 skilled immigrants to fill key labour shortages and drive economic growth. For many of those immigrants, however, the path to success has significant obstacles. 

Too often, new Canadians struggle to have their credentials recognized and are forced to take survival jobs. While working for low pay, the costs of re-accreditation can seem daunting, and professional goals out of reach. Accessing commercial credit can be challenging with no Canadian credit history and limited collateral. 

As a result, skilled immigrants and their families struggle financially, and our communities and businesses lose out on all they have to offer.
Windmill Client

Windmill offers an effective solution through our charitable microlending model. Our affordable, character-based re-accreditation loans unlock potential and get internationally trained professionals back to work at a level commensurate with their skills and experience. 

The impact is undeniable - our clients, on average, experience a 3.4x increase in their income as a result of a Windmill loan, 97.6% complete or progress in their learning plans towards the re-accreditation they need to resume their careers, and our repayment rate has held steady at 97% or better for over a decade. 

Financing is only a part of the support we offer to ensure that our clients are able to reach their professional goals. We also offer customized financial literacy training, employment readiness coaching and mentorship to ensure our clients have all the tools for success at their disposal. 

Founded in Calgary in 2005, Windmill Microlending has grown from a group of generous volunteers making the first six loans to a national organization serving nearly 2000 clients across Canada in 2019. 

Windmill Microlending has an innovative model that combines public and private charitable funding, as well as social impact investment through our Community Bond Program, to fund loans, loan delivery and client success programs. We lend at RBC Prime + 1.5% to our clients. Thanks to support from private donors, we are able to lend interest-free to refugees.

For more information

on our named loan fund program, our community bond program, or other ways to get involved, please contact Jeni Piepgrass at jeni@teamwindmill.org.

Windmill Client

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