Canadians looking for a loan will now be able to turn to Canada Post thanks to a program launched nationwide Wednesday with Toronto-Dominion Bank (TD).
The MyMoney Canada Post program will help meet the needs of a segment of the population living in rural and remote communities or for Aboriginal communities.
A pilot project was launched in September 2021 in several communities in Nova Scotia and Alberta before being deployed in other regions.
“The personal loans offered by Canada Post and provided by TD will range from $1,000 to $30,000 and will have a flexible repayment period of one to seven years,” TD Bank said in a statement at the time.
The loan can also be offered to people who do not have a credit history to pay for ongoing expenses.