OCLF arranges loans to fund approved training courses, which lead directly to employment. These loans can be used to cover the cost of tuition, books, examination fees, but not living expenses. The duration of these training courses, from beginning to end, cannot be more than a year.
Upon approval of a new loan OCLF will charge a one-time due diligence fee, equivalent to 2% of the value of the funds advanced. This fee is in addition to the interest charged on the loan.
OCLF considers applicants, which other lenders will not. This includes applicants who have encountered credit difficulties in the past or have not yet established a credit history. There will nevertheless be certain minimum standards. All applicants will be subject to a credit check and their eligibility assessed by OCLF and its lending partners on a case-by-case basis.