Alterna Professional
Development Loans

Training Loans

  • Up to a maximum of $5,000.
  • Maximum of 12 months.
  • Interest rates on the loans are prime plus 2% to 6% max.
  • During the professional development activity only the interest on the loan is paid.
  • The repayment of the principal begins three months upon the completion of the professional development activity or to a maximum of 12 months after receiving the loan.
  • Loan repayment terms range from 12 to 36 months.
Credit History

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.

Fees to Borrowers

Upon approval of a new loan OCLF will charge a one-time due diligence fee, equivalent to 3% of the value of the funds advanced. 

This fee is in addition to the interest charged on the loan.


  • Contact OCLF to discuss your situation.
  • Proof of identity (2 pieces: driver’s license, passport or similar photo identity document).
  • A current resume.
  • Provide a Career Progression Plan.
  • Provide two References (business or academic contacts only).
  • Forward your letter of confirmation of acceptance by an approved training organization.


You are eligible to apply if:
  • You are 18 years of age or older
  • You are Permanent Resident or Canadian Citizen
  • You live in Ottawa area
  • You have a career plan: either you have been accepted into a recognized job-training program, or you are planning to take licensing or certification exams
  • You can demonstrate to the satisfaction of OCLF that you will be able to fully repay the loan.
  • If applicable, you have been discharged from bankruptcy for at least 2 years.
  • You have no outstanding debts on which there are payment defaults.

Get in touch

OCLF empowers people by giving them information and tools to increase economic confidence and self-reliance or to start a business. Call or email us to find out how we could help you.