The Sources Rent Bank services residents of Surrey, White Rock and Delta whose income is below the federal government's low income threshold. It is a program with the aim of providing families with loans to prevent homelessness due to one time unexpected circumstances. The loan may only be used for either rental or utility arrears, and in some special cases, damage deposits or first month's rent.
To be eligible for a loan, the applicant must not be unable to pay their rent due to irresponsible spending. Furthermore, the applicant must show that they have the means to repay it, meet the eligibility criteria, and provide 3 months of bank statements, picture ID and a tenancy agreement.
The maximum loan available is $1200 for a single person and $1600 for a family with a maximum payback period of 24 months. Extra fees include a one time application fee, monthly processing fee and an interest rate of 4%. However, the interest will be reimbursed once the applicant completes the loan repayment and attends 2 financial literacy workshops.
Newton Resource Centre - Sources Rent Bank
Hours of Operation: Monday to Friday, 9 am - 12 pm and 1 - 4 pm
#102-13771 72A Ave
Surrey, B.C. V3W 9C6
T: (604) 596-2311
F: (604) 596-2319
Sources Rent Bank Pre-Assessment Form
Rent Bank Pre-Assessment
Note: Completion of form does not guarantee a loan
For more information, click here.