February 10, 2025
Waterloo partnership with Windmill Microlending empowers skilled newcomers
Access to microloans will enable career growth and advancement opportunities for immigrants and refugees
The University of Waterloo is teaming up with Windmill Microlending, a national charity dedicated to supporting skilled immigrants and refugees, to help newcomers successfully integrate into Canada’s workforce.
This partnership is designed to close the gap between skilled newcomers and the Canadian job market. Through financial support and tailored educational opportunities, it provides the resources needed to unlock the potential of this diverse population.
The flexible loan solutions can help Waterloo learners fund education and training programs of two years or less, including course and program offerings by WatSPEED, the University’s professional and executive education arm.
"Our collaboration with Windmill Microlending is a strategic step towards dismantling the barriers that prevent skilled newcomers from fully participating in our economy," says Sanjeev Gill, vice-president, innovation and executive director of WatSPEED at Waterloo. "We are committed to building learning and development programs that match the needs of both learners and hiring managers, fostering an inclusive environment where diverse experiences and backgrounds are valued."
Students in Waterloo’s undergraduate and graduate programs may also be eligible to receive loans through the program, leveraging the support for opportunities that enable future career success, such as professional development, licensing and qualifying exams, credentials assessments, English and French language training, and more.
With more affordable interest rates compared to traditional bank loans, Windmill Microlending provides loans to individuals — including those with limited credit history in Canada — who may not qualify for credit products from larger financial institutions.
“At Windmill Microlending, we recognize the immense talent and potential that skilled immigrants and refugees bring to Canada,” says Oumar Dicko, national director of Windmill Microlending. “This partnership with the University of Waterloo is a meaningful step toward ensuring newcomers have the financial support and educational opportunities they need to thrive in their careers. By reducing barriers to accreditation and professional development, we are helping to create a more inclusive workforce where skilled newcomers can fully contribute to Canada’s economic and social prosperity."
Together, Waterloo and Windmill Microlending are paving the way for a more inclusive and prosperous Canada, where every newcomer has the opportunity to contribute and thrive. To learn more about financial supports for professional education, visit the WatSPEED website.
