Windmill Microlending (previously Immigrant Access Fund) provides low-interest micro-loans to skilled immigrants and refugees who cannot afford the costs of Canadian licensing and retraining. Windmill loans up to $10,000 to enable internationally trained healthcare professionals (60%), scientists, engineers and other skilled immigrants to pay for reaccreditation programs, exams and related costs. With a 12 year track record, and a 97.5% repayment rate, Windmill loans enable skilled newcomers to escape long-term poverty by allowing them to increase their incomes threefold, on average, from $16,000 to $50,000, as the result of a loan of $7,000.
Through this offering, Windmill is raising up to $5M in one-, three-, and five-year community bonds, with the goal of doubling the number of Windmill loans originated over the next two years, from 488 to 976. Investors will earn a stable return while helping new Canadians apply their skills, help fill labour shortages, and escape poverty.
Capital raised figures include amounts raised both on and off platform.