Loan Application

Welcome to Beneficent Relief’s application page! Before applying, please ensure you understand the program’s requirements and have read through the Frequently Asked Questions.

Eligibility for a loan from Beneficent is as follows:

  1. Income below the Low Income Cut-Off (LICO) as defined by the Government of Canada. For example, a household of 3 people in a city with a population between 100-499K must have a household income below CAD$35,087 pre-tax. You can view the reference table here
  2. Positive net cash flow in order to be able to repay Beneficent Relief loans
  3. Guarantor consent
  4. Debt based within Canada e.g. the loan cannot be for credit card debt in the US
  5. Debt must be high interest-bearing i.e. credit card, payday loan, emergency loans, or similar

Loan Process

Please familiarize yourself with the loan process below before applying, as this will ensure unnecessary delays are avoided, especially regarding documentation requests. The loan process may take up between 2-3 weeks, as illustrated below

2-3 business days

Loan officer assigned

Once your application is submitted, a loan officer will be assigned to your case and will reach out for a screening call to verify your details. Your loan officer is your human connection to our organization and will guide you through each step of the process

1-3 business days


If your initial screening call was successful, your interview will be booked to gather your financial details and understand your circumstances

5-7 business days

Assessment begins

Upon successful completion of the interview, your officer will begin gathering documents and completing a financial assessment to determine your eligibility for a loan. During this time, it is critical to comply with all documentation requests to ensure a speedy decision

3 business days

Loan issued

Once the assessment is complete, the loan committee will convene to analyze your case and arrive at a decision on eligibility. Should you be granted a loan, the decision will be communicated and contract will be issued. At this time, we will gather consent from your guarantor and obtain your signature. Funds will then be released and the loan will be issued!

Loan application

After reviewing all the information above, please fill out the following initial application form, and you will be contacted shortly!