Immigration Loans Program
The Immigration Loans Program (ILP) assists disadvantaged immigrants coming from difficult situations, for example government-assisted refugees or protected persons, to cover some of the costs of immigrating to Canada.
If you have little or no income, the federal government may approve a loan for you according to your needs and ability to repay the loan.
Purposes of ILP Loans
An ILP loan can be used to pay for necessities abroad, before you come to Canada. For example:
- costs of medical examinations abroad
- travel documents
- transportation to Canada
- permanent residence fee
Once you arrive in Canada, ILP loans are also available to cover expenses such as:
- security deposits for housing rentals
- telephone deposits
- work tools
Interest on ILP Loans
Interest is charged on ILP loans. This means you have to pay back the federal government the whole loan amount plus interest.
If you are a refugee or protected person, you may be given a period of time where you make your regular payments interest-free. This means you will not be charged interest on your ILP loan if you pay it off during this period of time.