Sources Rent Bank services residents of Surrey, White Rock and Delta whose income is below the federal government's low income threshold. To be eligible for a loan, the applicant must show that they have the means to repay it as well as provide 3 months of bank statements, picture ID and a tenancy agreement. Furthermore, the applicant must not be unable to pay their rent due to irresponsible spending.
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 a.m. - 12 p.m. and 1 - 4 p.m.
#102-13771 72A Ave
Surrey, B.C. V3W 9C6
Sources Rent Bank Pre-Assessment Form
Rent Bank Pre - Assessment
Note: Completion of form does not guarantee a loan
For more information, Click Here.