FAQs - Foreign Credential Recognition Loans Program


What is the FCR Loan Program?

The FCR stands for Foreign Credential Recognition, and this loan program is a process adapted to verify that the education and work experience obtained in another country is equivalent to the standards established for the Canadian work force. The duration of acquiring foreign credentials may vary from profession to profession.

What are the benefits of the FCR Loan Program?

The Foreign Credential Recognition Loan Program in collaboration with our partners, helps you:
  • To complete your credentialing
  • To build your resume
  • To provide professional guidance
  • To provide multiple loans amount up to $15,000
  • To get employed in your professional field or an alternative related career field in Health, Education, Technology, Accounting, Law and Other Sectors in Canada.
This loan amount can be used for:
  • Training costs for short-term courses and accreditation.
  • Examination fees with associations.
  • Membership and association fees.
  • Course materials and travel allowance.

Who is elgible for the FCR Program?

Internationally Trained Professionals who meet the following requirements:
  • Canadian citizen, Permanent Resident or Refugee with legal document representing working status in BC.
  • Proof of education credential and work experience outside Canada
  • Seeking to get credentials recognized in Canada and/or undertaking training for an Alternative Career.

How much maximum loan amount I Can apply?

The FCR Loan Program provides multiple loans up to $15,000.

What is the loan interest rate?

The loan interest rate provided by our partner Vancity is prime + 0.5%

How long do I have to repay back the loan?

Loan repayment will vary for each individual, depending on the loan amount, and can take anywhere from 1-4 years.

How long does the application process take?

The application process can take anywhere from 1-2 weeks.

How much does the program cost?

The program is free.

I am a dentist from a different country. Can I take an alternative program that is still related?

Yes, as long as it fits within our sectors: health, education and technology.

I still have more questions. Who can I contact?

You can call us at: 604-596-7722 or 604-324-7733 or reach us by email: fcrloans@pics.bc.ca