Get a fresh start on your finances
Fresh Start Loan Program

Get the money you need

It can be tough to get a loan for a major purchase or investment, especially if you're building your credit rating. We can help.

Our Fresh Start Loan Program will:
  • Build your credit rating
  • Start your savings or
  • Lend you the money you want to make a major purchase

How does it work?

  1. We’ll lend you money and put it into an Innovation term deposit/Guaranteed Investment Certificate (GIC).
  2. Your loan payments will help build your credit PLUS you'll earn investment income.
  3. When your loan is paid off, you'll have cash you can keep invested OR money for a major purchase.

Program details

  • Loan amounts: $2,000 to $5,000
  • Fixed interest rate: 14.99%
  • Maximum term: 24 months
Contact us for more information or to apply for a Fresh Start Loan today!

How to further improve your credit score Expand/Collapse

Here are some tips that will help you improve your overall credit score.

Bill Payments
  • Make your bill payments on time

  • If you can't pay the full amount, make the minimum payment

  • Contact the business if you think you'll have trouble paying a bill on time

  • Don't skip a payment
Credit Cards & Loans

The bill payment tips above also apply to credit cards and loans. Plus...
  • Try and use less than 35% of the credit available to you. For example, if your credit card limit is $5,000, try to keep your balance below $1,750.

  • Limit the number of your credit checks. If you're often applying for credit, lenders might think you're spending more than you're making. Your credit score may then go down.

  • Use different types of credit. For example, a credit card, car loan, line of credit. If you pay them off, or make minimum payments each month, lenders will see you can manage credit in a responsible way.

For more information visit the Government of Canada website

Source of tips: "Improving Your Credit Score." Government of Canada, 13 May 2020,

Want to learn more?

To learn more about this lending product and others, see our Account Information and Disclosure of Standard Fees and Charges PDF Document

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