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Loan for Protected Person

sky9600

Star Member
Apr 18, 2023
94
5
Hello there,

I'm wondering if a protected person can get a loan for personal support (Not OSAP or educational support).

Thanks.
 

ref19to22

Hero Member
May 18, 2022
298
147
Yes, like a bank loan or line of credit.
As mentioned here, it is the decision of the lender if they will give you the loan.
I believe your temporary SIN (as a protected person) will be one of the many factors that are considered by the lender.
I would suggest talking to the bank/credit union that you already have a relationship with to see what your options are.
good luck!
 

GabyLecia

Newbie
Aug 14, 2024
1
0
I’ve had some experience with personal loans and support options. A while back, I needed some quick cash for unexpected expenses and used payday loans. They really helped me out in a tough spot and were easier to get than I expected. For someone in a protected situation, there might be similar options available for personal support. It’s worth looking into different types of loans and checking what you might qualify for. Sometimes, having a quick solution can make all the difference.
 
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Bryanpaz

Star Member
Mar 3, 2023
83
25
If you are in Ontario and need social assistance (economical in this case) you could apply for Ontario works.
Also, there’s a financial institution called “easy financial” which could give you a loan even if your SIN is temporary.
Some banks also provide loans depending on your credit score and history even if your SIN is temporary.