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Kamloops Rent Bank

Emergency loans to keep people housed

Rent Bank Circle

The Rent Bank provides emergency loans at a low interest rate for people who are going to be evicted from their housing or cut-off from their utilities. The Rent Bank is for low-income wage earners. People who qualify will have a regular income and will have been in stable housing for over a year; those who don’t qualify will be connected with other supports.

These emergency funds keep people who have nowhere else to turn from becoming homeless and entering the cycle of poverty. The Kamloops and District Elizabeth Fry Society administers this program, which is overseen by a community board. Our goal is to help end homelessness in Kamloops.

Loan Details

  • The maximum loan amount is $1000, and limited to $1000 for rent and $500 for utilities
  • The interest rate 5%
  • The term of each loan is over a maximum period of 2 years, with the ability to be paid in full without any penalty

Loan Qualifications

  • Must be 19 years of age or older, with two pieces of ID
  • Currently reside in Kamloops at the rental property for which the loan will be issued
  • Have a current bank account
  • Have or will have a consistent source of income which can be verified
  • Are not able to access any other form of financial assistance
  • Have rental costs that do not exceed ongoing ability to pay rent
  • Please note: You do not qualify if you are currently on income assistance or PWD

The Loan Process

  • An initial assessment to determine your need
  • Sign release of information form
  • Verification of employment
  • Copy of rental agreement
  • Copy of utility bill(s)
  • 3 months of bank statements
  • Approval of screening process
  • Cheque issuing procedures
  • Repayment process

Every Rent Bank client will be given money saving tips and strategies in the form of financial management tools. These tips include an in depth financial literacy program, streamlined budget & expense tracking system, templates for budgeting and referrals to other financial management services.

For more information please contact:

Janet Bakke
Kamloops & District Elizabeth Fry Society
Address: 827 Seymour Street, Kamloops BC, Canada, V2C 2H6
Telephone: 250.374.2119
Email:  advocate2@nullkamloopsefry.com

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