If you're in need for an interest free loan, you can apply at here.  

Interest-Free Lending, Rooted in Compassion

Beneficent is a non-profit, 100% volunteer-run organization created to serve our Canadian community by lending money without interest to those in need of financial assistance. Beneficent’s Loan Program helps individuals ‘get back on their feet’ by cutting off the effects of compounding interest and allowing them to rebuild their wealth, instead of seeing it being siphoned off towards ever-increasing debt payments.

With your donations, we can grow our lending pool, in order to support a larger number of borrowers seeking financial independence. 

Please note that 10% of all donations collected through our Ramadan campaign will cover administrative expenses our organization incurs. 

The Debt Cycle is Trapping More People

The number of Canadians on the brink of financial insolvency has reached a five-year high, with more than half of people $200 or less away from being unable to meet their financial obligations each month. As loan deferral programs slow down and ongoing economic disruptions impact household incomes, 30 per cent of Canadians say they are already insolvent, with no money left at the end of the month to cover their payments.

Compassionate Lending to Escape the Debt Cycle

This Year, Our Focus is Proactive Education

We have launched our Education Program in 2020, through which we envision a community that is financially literate, empowered to manage personal finances, and employed at their full potential. We have four initiatives managed by an interdisciplinary team:

1. Financial Coaching
2. Resume Critique
3. Interview Preparation
4. Career Coaching

This year, we are also actively piloting an Educational Loans program to tackle the growing problem of student debt.

Your Donations Perpetuate a Virtuous Cycle of Lending

With your donations, we can grow our lending pool in order to support a larger number of borrowers seeking financial independence. The following infographic explains how Beneficent’s loan model works to create a virtuous cycle of economic empowerment for Canadians. Once borrowers who were once in debt are back on their feet, they are encouraged to give back to the community and pay the benefit forward. Your donation is indefinitely recycled!

Please note that 10% of all donations collected through our Ramadan campaign will cover administrative expenses our organization incurs (legal, technology, marketing, etc). If we reach our goal before the campaign ends, we may raise our target.

Our Team

The Beneficent team is 100% volunteer-run and composed of talented professionals and students from a multitude of fields of expertise. Together, they combine entrepreneurship, experience in the non-profit sector, and dedication to economic empowerment to aid in Beneficent’s mission and beyond.