Calling all Canadians....
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Join Date: Mar 2007
Location: Cumbria, UK
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Calling all Canadians....
Is there any Canadian Pilots here who can help me with info about loans or financing in Canada??
Please get in touch as i'm due to emigrate to Canada soon and really NEED the financial help to follow my dream.
Thanks
WD
Please get in touch as i'm due to emigrate to Canada soon and really NEED the financial help to follow my dream.
Thanks
WD
Join Date: Aug 2001
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WannabeDan,
Try posting your request on http://www.avcanada.ca/forums2/
That aside; you may find it hard getting a loan with presumably no credit rating in Canada, unless you have some collateral such as a house etc to secure the loan. I'm also a surprised you are emigrating to go and follow an aviation dream over there (unless of course you already hold Canadian citizenship) as to gain a permanent residence visa you need to have a skill that they are short of and/or a fairly tidy sum of money to enable you to settle down over there ! Anyway, sounds like you've got that side sorted out as from your post you indicate you are leaving imminently !! Nice time of the year to go ! Enjoy !!
CG
Try posting your request on http://www.avcanada.ca/forums2/
That aside; you may find it hard getting a loan with presumably no credit rating in Canada, unless you have some collateral such as a house etc to secure the loan. I'm also a surprised you are emigrating to go and follow an aviation dream over there (unless of course you already hold Canadian citizenship) as to gain a permanent residence visa you need to have a skill that they are short of and/or a fairly tidy sum of money to enable you to settle down over there ! Anyway, sounds like you've got that side sorted out as from your post you indicate you are leaving imminently !! Nice time of the year to go ! Enjoy !!
CG
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Thanks for your help CG.
I'm actually a qualified Electrician/ Instrument mechanic.
My parents applied for immigration about 3 or 4 years ago and have only just got our visas now. So yes, we have our canadian citizenship but I'm using this clean break as a chance to go after my life dream.
I'm looking at Riverside Flight Centre in Oklahoma for training but struggling to find funding for it.
D
I'm actually a qualified Electrician/ Instrument mechanic.
My parents applied for immigration about 3 or 4 years ago and have only just got our visas now. So yes, we have our canadian citizenship but I'm using this clean break as a chance to go after my life dream.
I'm looking at Riverside Flight Centre in Oklahoma for training but struggling to find funding for it.
D
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You're welcome. Crikey that's a long wait for visas. I knew the wait time had gone up since 9-11, but 4 years !! BTW don't mean to sound pedantic, but all you have are visas enabling you to legally live and work in Canada it is not Canadian citizenship. For that you either have to be born in the country (like my eldest daughter) or you must apply, and to be eligible to apply you must have been living in the country for more than 3 years and then it takes about a year before you get invited to take a citizenship exam. Assuming you pass (it isn't difficult at all but people do fail usually because they have no basic of French or English) then you will be invited back to a citizenship ceremony where you swear an oath to Canada and the queen, then and only then can you say " I am Canadian" ! Ohh and I guess if your parents are Canadian then that might circumvent all of the above !! ;-)
Anyway, this is all very interesting, but doesnt really help you does it ! As mentioned earlier with no credit history in Canada it will be tough to get a loan, but where there's a will . You may need to get your parents to secure it on you behalf. Try talking to the HSBC Bank before you go they claim to be the bank that is internationally connected. Worth a shot.
All that aside, I see you are planning to go to the States to train and presumably get an FAA licence ! So, what then if you don't mind my asking. (and if I was a bank manager with a loan application in front of me it might be the kind of question I'd be asking) !
Good luck.
CG.
Anyway, this is all very interesting, but doesnt really help you does it ! As mentioned earlier with no credit history in Canada it will be tough to get a loan, but where there's a will . You may need to get your parents to secure it on you behalf. Try talking to the HSBC Bank before you go they claim to be the bank that is internationally connected. Worth a shot.
All that aside, I see you are planning to go to the States to train and presumably get an FAA licence ! So, what then if you don't mind my asking. (and if I was a bank manager with a loan application in front of me it might be the kind of question I'd be asking) !
Good luck.
CG.
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I can't offer any advice on getting loans - I don't think you'll get any help that way other than simply borrowing the money from a bank once you've established a credit rating.
But if you train in Canada at a registered school then you can make some good savings by deducting your training expenses from you or your parent's income - something like 25% depending on how you time it.
But if you train in Canada at a registered school then you can make some good savings by deducting your training expenses from you or your parent's income - something like 25% depending on how you time it.
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Getting any sort of loan will be a complete nightmare because you will have no CANADIAN credit rating. Even global companies like Citigroup don't tend to recognise accounts from the UK. CIBC would only give me a credit card with $1000 credit if I gave them $1000 as security!
It sounds like you have got Canadian residency (the waiting time is approx 36 months at the moment). As previously stated, unless you have a birthright, you DO NOT have citizenship - yet.
It sounds like you have got Canadian residency (the waiting time is approx 36 months at the moment). As previously stated, unless you have a birthright, you DO NOT have citizenship - yet.
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As someone from the UK who's making the same hop you are, two quick pointers which may or may not apply to you.
a) Get an American Express Card in the UK. As far as I'm aware, they are the only truly international credit card company who hold their own ratings independent of country. You can "swap" a UK card (we have a Nectar one) for (example) a Canadian Airmiles one when you have a Canadian address, even if you have no history in Canada. Et voila, instant credit (and once you're paying one set of card bills in your new country, your rating soon picks up).
b) HSBC are pretty good. We went and "landed" as immigrants last year, and were then able to pick up HSBC Canadian credit cards (we'd had a Canadian HSBC account for a couple of years, arranged from our UK branch). This WAS bonded, as the chap above indicates (i.e. you must have the equivalent amount to your credit rating in an account with us for the first year), but this didn't really present an issue as we had moved some money across to them anyway.
As it happens, we've come back to the UK for a year to tidy up work, sell house, get married, etc., but have been using our Canadian cards and paying the balance off monthly via automatic debit from our HSBC Canada account. When we actually land permanently later in the year, we'll already have a year of credit history with them too.
Your credit rating picks up pretty quickly when you start using credit cards, or get a part-finance deal on a new car. Just don't default on any payments!
If you can't get hold of a credit card proper, a Sears or other store card is often easier to come by and will still kick-start your history.
Best of luck with your move!
a) Get an American Express Card in the UK. As far as I'm aware, they are the only truly international credit card company who hold their own ratings independent of country. You can "swap" a UK card (we have a Nectar one) for (example) a Canadian Airmiles one when you have a Canadian address, even if you have no history in Canada. Et voila, instant credit (and once you're paying one set of card bills in your new country, your rating soon picks up).
b) HSBC are pretty good. We went and "landed" as immigrants last year, and were then able to pick up HSBC Canadian credit cards (we'd had a Canadian HSBC account for a couple of years, arranged from our UK branch). This WAS bonded, as the chap above indicates (i.e. you must have the equivalent amount to your credit rating in an account with us for the first year), but this didn't really present an issue as we had moved some money across to them anyway.
As it happens, we've come back to the UK for a year to tidy up work, sell house, get married, etc., but have been using our Canadian cards and paying the balance off monthly via automatic debit from our HSBC Canada account. When we actually land permanently later in the year, we'll already have a year of credit history with them too.
Your credit rating picks up pretty quickly when you start using credit cards, or get a part-finance deal on a new car. Just don't default on any payments!
If you can't get hold of a credit card proper, a Sears or other store card is often easier to come by and will still kick-start your history.
Best of luck with your move!
Last edited by Polikarpov; 30th May 2007 at 10:11.
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"I'm looking at Riverside Flight Centre in Oklahoma for training but struggling to find funding for it."
I hate to point out something obvious........BUT........Oklahoma isnt in Canada.
Cheers
I hate to point out something obvious........BUT........Oklahoma isnt in Canada.
Cheers
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Polikarpov
Did you apply yourself for the visa or did you have a law firm assist you in the process? is it a landed immigrant visa or a skilled worker visa?
PM me about this if you have the time some day.
Cheers,
Heli-Ice
Did you apply yourself for the visa or did you have a law firm assist you in the process? is it a landed immigrant visa or a skilled worker visa?
PM me about this if you have the time some day.
Cheers,
Heli-Ice
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Seeing as there's only ~30 million of us, and fewer than that, pilots, we have a fairly small industry. If you were to take your training at, ProIFR, say, chances are, many operators might know John, and could call him up to ask what you were like, as a person, and potential employee. Not quite the same with some Oklahoma college that no-one has ever heard of...
Also, I suspect that qualified instrument-bashers/spark chasers are in fairly short supply here, so a company might be more than happy to have you aboard as an engineer, but things might get a little vague when you mention that you want to go flying instead...
Also, as always, off the beaten path is where you want to go when you are looking for work. There's lots of guys trying to get flying jobs in Toronto who don't want to move - move and things will progress faster..
Good Luck.
Also, I suspect that qualified instrument-bashers/spark chasers are in fairly short supply here, so a company might be more than happy to have you aboard as an engineer, but things might get a little vague when you mention that you want to go flying instead...
Also, as always, off the beaten path is where you want to go when you are looking for work. There's lots of guys trying to get flying jobs in Toronto who don't want to move - move and things will progress faster..
Good Luck.
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When I was starting out I explored every avenue I could think of to help finance my Aviation training. My M.P., Employment Canada, Industry Canada, Student Loans Canada... In a word. NADA... ZIP ZERO ZILCH...
The international Bank of Mom was the only institution I could count on...
Granted that was 24 years ago, but with the glacial pace of change, I would think it would be the same... Unless of course you are a resident of Webequie, or Muskrat Dam, Pikangikum...
Good luck.
The international Bank of Mom was the only institution I could count on...
Granted that was 24 years ago, but with the glacial pace of change, I would think it would be the same... Unless of course you are a resident of Webequie, or Muskrat Dam, Pikangikum...
Good luck.
