Important Information in Response to COVID-19

Emergency Financial Assistance

Has an emergency placed you in financial distress? Do you and your family need extra support because of challenges arising from Canadian Armed Forces service? We can help.

Description

Financial distress is when you or a member of your family lacks the necessities of life, or when your personal debts cannot be met due to sickness, accident, death, or other misfortune.  
You may qualify for a low-interest loan of up to $25,000 or a grant of up to $5,000.

Eligibility

Veterans and their families as well as Regular and Reserve Force serving members and their families as outlined in the Member Personnel Record Resume (MPRR).

Process

Description      

You may qualify for a small loan of up to $5,000 to assist with:

  • emergency situations such as compassionate travel
  • urgent home and car repairs
  • prevention of financial distress
  • health and safety related issues
  • education, if you have been denied through the BMO Student Line of Credit Program

Eligibility          

Veterans and their families as well as Regular and Reserve Force serving members and their families as outlined in the Member Personnel Record Resume (MPRR).

Process           

 
You may be required to provide documentation demonstrating your need, such as copies of recent bills, invoices, or statements. If this documentation is not available, you may provide other information supporting your application such as an email or fax from the provider.

Description

You may qualify for up to $2,000 in financial support during an immediate (within the next 24-72 hours) financial distress situation. Here are a few examples of situations that could qualify: to assist with transportation costs to essential health services or place of employment during an emergency; to prevent eviction or foreclosure; to assist with necessary uninsured medical or dental services costs; to prevent disconnection of essential utilities like heat or hydro; to purchase groceries or other basic necessities; for other emergency needs not defined above.  

Eligibility

Regular and Reserve Force serving members: a grant of up to $2,000.
Veterans: a grant of up to $500.
This also includes family members living in the same household.  

Process

Serving members: assistance is available through the local SISIP Financial Counsellor or the Support Our Troops contact in your area.  Schedules A & B Part 1 and B Part 2 are required.
Veterans: assistance is available through Veterans Affairs Canada and/or the Legion.  

You will be required to provide documentation demonstrating your need, such as copies of recent bills, invoices, or statements. If this documentation is not available, you may provide other information supporting your application such as an email or fax from the provider.


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