Loan Terms and Conditions

Here’s what you need to know about borrowing from Windmill and paying your loan back.  

  • Up to $15,000 may be borrowed on our regular loan program; most people borrow around $11,000. We also have specific profession related loan programs that may exceed $15,000.
  • Our interest rate for new loans is fixed for the term of the loan (6.7%). This means that your interest will not increase despite the constant increases on the prime rate by the Bank of Canada.
  • You will need to sign a promissory note.
  • In most cases, loan funds are advanced as you make progress on your Career Success Plan.
  • Payments must be made monthly and will be taken automatically from your bank account.
  • Your loan repayment schedule will depend on the length of your approved Career Success Plan. Generally, your payments will be in two stages:
  • Interest only while you are completing your Career Success Plan (to a maximum of two years), and
  • Principal and interest for the next two to five years
  • Payments of interest only will start the month after you receive the loan funds and will be based on the amount borrowed at that time.
  • You will have to start making principal payments within 90 days if you:
  • Find employment in your field
  • Complete your Career Success Plan, or Decide not to continue with your Career Success Plan
  • Loans may be paid in full at any time with no penalty. “Paid in full” means that all principal, interest and any additional charges that might have been charged against the loan have been received.
  • Your loan will be registered with a credit bureau so that you can build your credit rating.
  • There are no processing fees on loans.
  • Approval of your loan is based on several factors, including your financial history, the strength of your Career Success Plan, and your willingness to repay the loan.

Affordable career loans for skilled newcomers

Are you among the 400,000+ skilled immigrants who have come to Canada aiming for a brighter future?

Employers may not recognize your credentials. Windmill can help you get back into your field with a 6.7% low-interest career loan.

Employers may not recognize your credentials. Windmill can help you get back into your field with a 6.7% low-interest career loan.

Affordable career loans
for skilled newcomers

Why should you apply for a Windmill loan?

We know Canada’s a new start, and it can be tough. You’re working a survival job to support your family and you wonder when you’ll be a doctor, a nurse, or an engineer again. In order to return to your profession, you need to get re-accredited or re-licensed and that can get expensive. Windmill exists to support skilled immigrants like you with a low-interest career loan. Our loans are designed to be affordable and predictable: a fixed interest rate of 6.7% for your entire loan duration. Even when other financial institutions are raising interest rates, your rate at Windmill is locked in.

Windmill goes beyond financing. We offer career coaching, mentorship, and even money management training – everything you need to get back on your feet. At Windmill, we want to help you return to your chosen field and live the Canadian dream you came for.

*Application to certain loan programs may vary.

Scientist immigrant playing with his son

Are you eligible for a Windmill loan?

Eligibility criteria:

You must be an immigrant and a Permanent Resident, Protected Person, Convention Refugee, Provincial Nominee, or a Canadian Citizen.
  • Loan applicants must have one of the immigration statuses listed above.
  • Unfortunately, international students, live-in caregivers, and refugee claimants are not eligible for a loan.
You must be an internationally-trained immigrant requiring licensing, re-training or relocation to achieve your career goals
  • You must be internationally trained and have completed post-secondary education outside of Canada and/or have a minimum of one year of post-secondary work experience before coming to Canada.
  • You must have costs associated with a Career Success Plan to achieve your professional goals, which may include credential assessments, exam fees, or programs of study that are less than two years, or even relocation for employment.
  • Note that we cannot provide loans for business start-up costs.
You must be currently living in Canada
  • You must be living in Canada to apply for a Windmill loan. We are proud to operate nationally and serve clients in all 13 provinces and territories.
You must not have an undischarged bankruptcy
  • If you have filed for bankruptcy in Canada, your bankruptcy ends when it is discharged, releasing you from legal obligations to repay the debts. We cannot consider your application if your bankruptcy is still active.
  • If you have an active consumer proposal or debt management program, you are eligible to apply for a Windmill loan once you demonstrate at least 6 months of consistent payments, unless your debt management program prohibits taking on other debts while enrolled.

What makes a Windmill loan unique?

Loans up to $15,000

Fixed low-interest rate
as low as 6.7%

Zero loan processing fees

Success coaching support and mentorship program

Start your application today

What can a Windmill loan be used for?

From examination fees to childcare costs and living expenses, while you study, a Windmill loan can cover the varied costs of accreditation, education and training that are essential for you to advance your career in Canada.

Qualifying exams
Training courses
Relocation costs
Books and materials
Living allowances
Professional association fees

More than just a loan

As a Windmill client, you benefit from a range of services, at no additional cost!

One-on-one coaching to support you on your career path

Career and educational resource supports

Financial planning and budgeting tools

The Windmill Mentorship Program

Exclusive access to our Community Success Hub

How to apply for a loan

Step 01

Check your eligibility

Learn about the requirements to qualify for our affordable career loan and take our
10-second Eligibility Quiz!

Step 02

Submit your application

Once you pass the Eligibility Quiz, fill out our quick and easy online application form, submit the documents and complete your loan application. Get your loan approval notification within two weeks.

Step 03

Start your journey to career success

You might be required to meet with one of our counsellors who will provide you with career guidance and assistance with the loan. This is a free service for our clients. Once approved, get your loan amount credited within 10-15 days!

Loan calculator

Estimate your monthly payments, actuals may vary

Total Interest Over Loan Term


Interest rate

From 20 December 2023, all new Windmill loans in Canada are set at a fixed interest rate of 6.7%* for the entire loan duration


*for Quebec residents who need funds for credential recognition only. Different loan terms apply.

6 Months
24 Months
1 Month(s)
36 Months
During your educational program term you will be making monthly payments of:
During your loan repayment term you will be making monthly payments of:
Total interest paid over the loan term
Total amount of principal and interest paid by the end of the repayment term
Total of 10 payments
Total of 10 payments

Payment Details

Loan Repayment Structure

Educational Program Term

While you are studying, you pay interest only payments.

Repayment Term

After your training period, you start repaying the money you borrowed. The repayment term is how many months you take to repay.

Based on your selection, you would be borrowing $8,000

Your interest rate will be 6.70% fixed for the term of the loan.

Your monthly interest payment would be $43.00.

You would pay this for 15 months while you complete your training.

After that, your payments would be $356.19 per month for 24 months.

Payments are withdrawn automatically from your bank account on the 15th of every month.

Note that these terms may change when we review your application. However, the interest rate will not change.

Calculator Legal Disclaimer

In the results presented, we assume the following: {i} a constant interest rate throughout the loan term and amortization period; and {ii} the payment schedule you selected is maintained with no additional payments or skipped payments. Actual payment and interest amounts may differ and will be determined at the time of signing the Loan Agreement. This calculation is based on the accuracy and completeness of the data you have entered, is for illustrative and general information purposes only, and is not intended to provide specific financial or other advice and should not be relied upon in that regard. You should speak with your professional accountant or other professional advisors before making a final decision to ensure any strategy meets your financial needs and that your personal circumstances have been considered. When you make your credit application, interest rates may have changed or may be different due to information contained in your application and additional conditions may apply.

Windmill Microlending does not make any express or implied warranties or representations with respect to any information or results in connection with the calculator and will not be liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision made by you in reliance on any information or results.

* For the educational program term, payments must be at least $25. If your payment is less, a $25 flat rate will apply, with the remaining amount going towards your outstanding balance.

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Loan terms and conditions

Everything you need to know about borrowing from Windmill and paying your loan back. Click here for information on the loan terms and conditions that apply to your loan.

Have more questions about our loan?
Read our Frequently Asked Questions

Google reviews

June 21, 2024

Thank you Windmill for helping me reach my career path here in Canada. Big shout out to Andrea and my coach Christopher. All the best and More Power to Windmill. 😊

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Roy Rabin
June 18, 2024

My experience with windmill was seamless and very good ! My coach was very helpful and helped me to understand the process and their organization well I’m very thankful

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Oriola Madhi
June 7, 2024

A great opportunity for internationally trained dentists looking to fund their equivalency journey. Dealing with Christopher as a coach I felt reassured and very supported on my plans for the future. Highly recommended!

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Jamiu Ayodabo
May 8, 2024

It was good and smooth process, I thank windmill for the opportunity given to me.

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h ch (Heidi)
May 7, 2024

I am writing this review to express my profound gratitude and appreciation for the financial assistance I received from this institution. As an international dental graduate, the journey to participate in the Canadian Dental Board was filled with numerous challenges, one of which was financial constraints.

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Madiha Adeel
April 29, 2024

Windmill loans have provided me with the necessary financial support to enhance my career and pursue my dream of becoming a licensed pharmacist in Canada. The funding process was straightforward and efficient, allowing me to focus on my studies and professional development without financial burden.

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simran brar
April 15, 2024

Windmill solved my financial problems when I needed most to pursue my career. Inflation made it very difficult to save money to pay for tuitions and study while working. Windmill let me focus on my studies while taking care of my finances while I go to college. Thank you windmill.

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Tahia Zohora
March 21, 2024

My journey towards dream just started..If windmill isn't there, may be I am not able to dare my dream to become Dentist here in Canada.My coach,Christopher is so knowledgeable about my this journey that I feel comfortable to share my journey with him.It will be always appreciated how Windmill is helping new Doctors towards their long and tiring journey for dream...

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maxwell egede
March 18, 2024

Great experience!! I had a seamless application process, very professional staff (Sanaya Italia did a great job) and the funds disbursed sooner than I expected. The success of your application depends on you really. I would highly recommend Windmill Microlending

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joy Sager
December 16, 2023

I have a very humbling experience with the staff of Windmill esp. Ms. V.T. She is very accommodating and helped me with the whole process. Thank you for your support to us whom you have given hope that nothing can't be done as long as we believe in us and other kind people around us.

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Vandana Arya
November 12, 2023

Best assistance proper guidance and problem solving are a few things on which Wind will is best. I highly recommend you for newcomers. I have no perfect words that can express my feelings, and how thankful I am for you all.

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Shar Gray
November 10, 2023

Excellent service, amazing people, far, and transparent. They really look at the whole person instead of just a credit score. Windmill helped me find a program I could take to provide better for myself and my family. They did provide the funding so that I can take the first step in starting a new career. I couldn't have done it without them!

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Dr Monica Ajadalu
October 19, 2023

I had a good experience in the processing of my student loan.Very effective and stress-free process, The Staff very excellent

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Anahita Hirmanpour
October 15, 2023

I can not put into words how much I am grateful for all the support and services that Windmill provided for me. They lit up my world in a time of darkness and disappointment. They supported me to stand again in my life and start over. Their help was not only financial; it was also through mentorship and connections. I highly recommend Windmill for professional newcomers. They help you to pursue your dreams. Their team is outstanding in providing information, replying to emails promptly, and updating you on all new updates. In the last two years, they have been like family support to me, although I do not have any family members here. Thank you to you all for making the world a better place. God bless you.

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Chuka Akabike
September 10, 2023

Having a career advancement plan seemed quite impossible due to insufficient funds to get the required certifications. Though the paycheck is not so great to attain certification designation- they really cost quite a lot, secondly advancement would be at a very slow pace. Until I Stumbled into Windmill Microlending via Google ads, I was curious to know more. and how Windmill Microlending would be beneficial to me. I was thrilled with the process as the requirements were not outrageous, secondly, a walk-through in the coaching session was really enlightening, Information on how the program works was spelled out, interest rate was clearly stated which to my surprise was very reasonable and affordable compared to taking a personal loan for educational purpose. The Repayment plan I must commend is very flexible accommodating your personal finance and paycheck. At this point, I realized I didn't need to break the bank to get the financial support needed for my Career Advancement. Thanks to Windmill Microlending for having my back.

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Ekom Umoh
July 16, 2023

As a new immigrant in Canada, Windmill Microlending provided me with the loan required to pay for professional certifications in IT to be competitive in the Canadian job market. The process of obtaining the loan was seamless, my coach was ever-supportive, and the interest rate for repayment is low and fixed. I recommend WM to anyone requiring financing to fund their career succession plan.

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Mark Ssentongo
July 10, 2023

Windmill staff are very professional and highly responsive. The application to approval process was made easy and smooth. I would strongly recommend Windmill to all skilled immigrants looking to advance their careers in Canada and obtain not only financial help but also career guidance like mentorship and education on the Canadian financial system. Thank you Windmill and special thanks to my client success coach Sanaya, you have been very helpful.

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June 20, 2023

Words cannot express my gratitude for getting to know about Windmill Microlending. They were very professional and helped me navigate the process easily. Their mentorship and coaching are the best I have seen. I highly recommend them.

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Felix Etaje
June 10, 2023

I must thank Windmill most sincerely for the great financial assistance rendered to me. The coaching session was excellent, the coaching materials and tutorial questions were very educative. I will definitely without hesitation recommend Windmill to new immigrants. Thank you very much Windmill.

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April 10, 2023

Awesome service delivery, and clear communication line. Sanaya & Michael proved so exceptional all along, and were able to answer my questions. I highly recommend them to anyone who is looking to get funding for career transitioning and furthering education.

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Reza Habibian
February 15, 2023

I highly recommend Windmill Microlending, especially for skilled newcomers in Canada who need financial support to pass licensing exams to start a career in their specific field. Fast and easy loan application, with friendly and professional staff to work with, especially my loan coach, Joyce Wan, was motivating and empowering. If you are a physician, pharmacist, dentist, or veterinarian like me, use the windmill financial services, focus on passing the exams, and get started in your professional career as soon as possible. Do not forget why you immigrated.

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mitali kawde
February 10, 2023

My experience at Windmill Microlending was very nice. I took a student loan for my diploma and the whole process was quick and smooth. My client success coach, Christopher Lau responded to every email in a timely manner. I highly recommend Windmill Microlending to immigrants across Canada.

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We’ve helped thousands of new Canadians, just like you!

From fast-food worker to dentist, security guard to pharmacist, delve into the diverse success stories of our clients.