Essential Information for COVID-19 Emergency Loan Program for Canadians Abroad

Are you a Canadian stuck abroad due to the pandemic? Well, the government of Canada has created a special loan program for people like you. COVID-19 Emergency Loan Program for the Canadians abroad is a temporary assistance program to help people to return to their homes. The loan can also be used to find shelter in a foreign country while you try to return to Canada.

Like any merchant cash advance Canada, you have to fulfill certain criteria to become eligible for this loan. If you are interested in this loan, keep on reading to know more about it.

Merchant Cash Advance Canada

The Eligibility Criteria

There are some basic criteria that the person needs to fulfill for applying for this loan. Simply put, the eligible candidate should be a citizen of Canada. The person should have plans for returning to their country, which has been disrupted by the ongoing pandemic. Lastly, the person should not have access to any other source of funds for returning home. If you tick all of these three boxes, then you can apply for the loan.

The following factors are considered as the other sources of funds. Check it out.

  1. Credit card.
  2. A loan from merchant cash advance providers, bank or insurance providers.
  3. Transferred money from friends or family members.

To prove that the applicant had a clear plan for returning to the country before COVID-19, he or she should have a confirmed travel itinerary or a temporary visa for a foreign country with a clear end date.

If you are a Canadian citizen and are traveling with another person who is a permanent resident of Canada, you can add that person’s eligible expenses in your application as well.

Saying that, you should note that immediate family means the parents, spouse or children. If you are a permanent resident of Canada and you are facing a danger of serious harm, then you are also eligible to apply for this loan.

The Expenses That The Loan Should Cover

Merchant Cash Advance CanadaAs the situation of each applicant is unique, the consular officer will determine the amount of loan by analyzing every case. The expenses covered by the loan include the air travel tickets to Canada and the expenses of local transport related to your return to Canada.

It also includes the expenses for the essential products including shelter and food while you are not being able to return to Canada. You can also meet the medical expenses and hospitalization costs if you are affected by COVID-19 or for any other pre-existing conditions. The costs related to quarantine requirements can also be met using this loan.

Should You Go To the Consulate to Apply?

You do not need to visit the consulate to apply for this loan. Once you have exhausted all other options for the fund, you can fill in the COVID-19 Emergency Loan Request Form. Once you have done that, make a call to the nearest Canadian office located in that country, which can offer you the required guidance on issuing the loan.

The rules of repayment are not that stringent about this emergency loan. However, know that you have to return the loaned amount to the Government of Canada. Once you apply for it, the officers of the consular office will clarify the rules about that.

Canadian Mint Coins That You Should Be Aware Of

Canadian Mint Coins That You Should Be Aware Of

To any coin collector, the coins produced by the Royal Canadian Mint is a treasure. The Canadian mint produces coins that are meticulous, beautiful and have received the honour of recognition from the international bodies.

Truth be told, the Canadian Mint has produced some of the rarest coins on earth. That’s what makes it super fun for collectors to get their hands on Canadian mint coins.

Saying that Canadian coins are also one of the best investment grade collectables available across the world. If you are a collector, then don’t forget to check the following list of rare and valuable Canadian coins.

  1. 1911 Canadian Silver Coin

canadian mint coins

Among all the rare Canadian coins, the 1911 Canadian silver coin is considered the holy grail. For years, this small coin has held the title of the world’s most valuable coin.

The interesting fact is that only 3 examples of this coin were ever struck, one in bronze and two in silver. The bronze one and one of the silver examples are exhibited at the Canadian Currency Museum in Ottawa. That means there is only one silver example out in the market for the collectors.

This makes things more interesting. In 2003, this coin was sold at nearly 1 million dollars at an auction.

  1. 1936 DOT 1 Cent

canadian mint coins

These coins are some of the most well known collectable coins in the market. The story of the coin dates back to the time of King Edward VIII’s abdication and George VI’s ascent to the throne in 1936. This sudden change of ruler created a problem for the Royal Canadian Mint as they did not possess any dies with the effigy of the new king.

To solve this problem, the mint produced a small batch of 1936 coins with a tiny raised dot at the below date to indicate that the coins were struck in 1937.

The numismatists interested in Canadian mint coins say that only the denominations of 1 cent, 10 cents, and 25 cents pieces were struck using this raised dot. Among all of them, 1936 dotted 1 cent coins are the rarest as there are only 3 state examples. One of the examples was sold in an auction conducted in 2010 at a whopping amount of $400,000.

  1. 1936 DOT 10 Cents

canadian mint coins

Dot 10 cents coins of 1936 are also very rare. There are only 5 known state examples in the world. Among them, one of the examples was sold at a coin auction for over $184,000.

  1. 1969 Large Date 10 Cents

canadian mint coins

There are 16 known state examples of 1969 large date 10 cents are available in the market. It is one of the extremely rare coins. From time to time, the examples appear on different coin auctions and fetch between $10,000 to $25,000. The price range of the coins varies depending on its grade.

  1. 1916 C Gold Sovereign

canadian mint coins

The sovereign gold coins are British one pound gold coins that were struck at the Royal Canadian Mint between 1908-1919. Among them, the 1916 sovereign gold coins are the rarest and have less than 50 known state examples. Depending on the grade, these coins bring $15,000-$50,000 at any coin auctions.

So, these are some of the rarest Canadian mint coins that you can try to add to your collection. If you are a beginner in the world of coin collection, you should concentrate on preservation techniques of the coins first. Once you get a handle on that, start collecting the coins.