Windmill Microlending and Prep Doctors Launch Innovative Loan Program
Published July 27, 2023.
(TORONTO, ON, July 27, 2023) - Windmill Microlending and Prep Doctors have partnered to introduce Cost+ ZERO Financing, a new loan product designed to ease the financial burden on internationally-trained dentists to get their licence to practice in Canada. The new loan will be available to Prep Doctors students and will provide a consistent and affordable repayment schedule, and greater peace of mind during a period of rising interest rates.
The Canadian Occupational Projection System (COPS) has projected that Canada will experience a shortage of about 5,000 dentists by 2028. The process of getting licensed as a dentist in Canada is costly, complex, and time-consuming for foreign-trained applicants, involving multiple examinations over several years and a limited number of available exam seats. Cost+ ZERO Financing helps ease the burden with affordable, consistent financial support throughout the accreditation process.
“Too many internationally-trained dentists are prevented from restarting their careers in dentistry because they cannot afford the costs of preparatory courses and licensing exams. This problem is especially acute for some devout Muslims who cannot take an interest-bearing loan, for faith-based reasons,” said Claudia Hepburn, CEO at Windmill Microlending. “Our hope is that, through this exciting new partnership with Prep Doctors, more dentists will be able to afford the costs of Canadian accreditation and put their skills to work in Canada.”
“We believe deeply in the ability to offer our programs to all under-represented groups and we are thankful to Windmill’s leadership team for their vision and commitment to invest in this unique opportunity,” said Firas Abu Saleh, Prep Doctors Co-Founder and CEO. “We look forward to this partnership to continue to help our students achieve their career success in Canada.”
About Windmill Microlending
Windmill Microlending reduces poverty, inequity and labour shortages by providing affordable loans to help skilled immigrants and refugees put their skills to work in Canada. Founded in 2005, Windmill Microlending has delivered more than 9,000 loans to new Canadians, helping them triple their incomes, on average, and converting their potential into prosperity.
About Prep Doctors
Prep Doctors is the leading dental training and support services provider that prepares foreign-trained dentists to obtain licenses to practice dentistry in Canada. They do this by offering first-class preparatory courses that target the required National Dental Examining Board of Canada (NDEB) exams. They also offer Continuing Education courses aimed at professional development and helping all dentists improve their skills and maintain their licenses. Learn more about Prep Doctors here.