The Seniors Loan Program can offer funding up to $1,000 to seniors aged 60 and older who are at risk of eviction due to a temporary shortage of funds, or financial crisis. Funding may also be available for a utility payment or damage deposit, if the person is homeless or their current housing is unsafe or unsuitable. Funding is provided in the form of short-term interest free loans. If you meet the requirements, you will need to complete the “Seniors Loan Program Application Form” which is available by email or by contacting Seniors Services Society at 604-520-6621.

Requirements for application:

●  Age 60 or older
●  Have legal status in Canada, and not be a temporary resident (i.e. visitor, student, temporary worker)
●  Have a bank account and can provide three months’ bank statements
●  Have two pieces of ID – Canadian Photo I.D. and Government issued I.D., (photocopies okay)
●  Can provide proof or confirmation of tenancy or housing
●  Not be in the process of bankruptcy
●  Have no un-discharged bankruptcies
●  Have a sincere reason for any delinquency in loan payments
●  Have, or will have, a consistent source of income
●  Are not able to access any other source of funds to meet the financial need for which they are applying for
●  Do not have cashable assets greater than $4,000 (not including funds in Registered Investment Accounts)
●  Do not have housing costs that would exceed their ongoing ability to pay rent
●  Do not own a property that you do not live in
●  Be experiencing temporary financial crisis
●  Owe no more than two months rental arrears
●  Show that loan funds will be used towards maintaining or gaining long term, safe housing

For more information, please email loanprogram@seniorsservicessociety.ca.