New Westminster Rent Bank (NWRB)

Housing stabilization program for low-income residents in New Westminster age 19 and up. Offers low-fee, short-term loans to low-income individuals and families residing in New Westminster who are at risk of eviction or essential utility disconnection due to a temporary shortage of funds. Loans may also be issued for security deposits of first month's rent in certain circumstances. If approved, loan funds are distributed in cheque form and are written directly to the creditor. Maximum loan amount is $1,400 for individuals, $1,700 for families, and up to $500 for essential utility arrears, with a maximum repayment term of 24 months, subject to a $1/month administration fee. Applicants must complete a pre-assessment form available online. Applicants must have a current bank account and/or be receiving provincial government benefits through Income Assistance, Persons with Disabilities (PWD), or Persons with Persistent Multiple Barriers (PPMB); have a regular source of verifiable income which is sufficient to cover rent/living expenses; be a Canadian Citizen, Convention Refugee, Landed Immigrant, or Permanent Resident; have a legitimate reason for experiencing a temporary financial crisis; have no undischarged bankruptcy; not be living in BC Housing units; not be able to access any other forms of financial assistance; have two pieces of government-issued ID; have after-tax income less than the Low Income Cut-Off (LICO); demonstrate that the loan will stabilize their housing situation for 90 plus days; and not have any outstanding loans with New Westminster Rent Bank. Funded in part by the City of New Westminster, and New Westminster Homelessness Coalition Society.