Future plans include educational and OSAP loan programs, business loans, and more
Beneficent is a non-profit, 100% volunteer-run organization committed to economic empowerment via interest-free debt relief.
We provide compassionate lending to uplift individuals with interest-free loans to cover payments, such as but not limited to, credit card bills, payday loans, or outstanding fees as a result of recent job loss. We also exist as an educational institution dedicated to empowering individuals with personal finance fundamentals and discouraging overreliance on debt, rather than simply providing a short term solution to an ever-growing problem in our society - heavy debt burdens worsened by compounding interest, resulting in a debt trap.
We use ethical principles from Islamic finance which aim to replace interest-based loans to prevent the burden on the indebted and end the debt cycle. We aim to empower Canadians to build strong networks and encourage self-reliance in a communal setting. We are committed to serving those in need, irrespective of religion, creed, or background. We believe this service is not only important, but necessary, and we appreciate the support we receive from all those who are involved in our cause.
The majority of students and their families have concerns about the financial burden of university/college fees. Financial planning for college students is very important to help ensure they are not victims of the debt trap. There are many ways to plan intelligently for university – below are some suggestions on university financial planning for students: Read more about University Financial Planning for Students:[…]
Setting up a bank account is important for every student. Having a bank account not only provides you with the convenience of being able to conduct transactions such as depositing/withdrawing funds, sending e-transfers and payments, but can teach valuable lessons on saving as well! But this does not mean that students should be paying hefty Read more about The Best Bank Accounts For Students In Canada In 2021[…]
Local tech start-up ClientTable and non-profit Beneficent bring virtual tax clinics to modest-income residents and families throughout Ontario Toronto, ON (March 18, 2021) – From March 27-28, 2021, modest-income residents and families in Ontario will have access to free and secure, virtual tax preparation support. These tax preparation clinics will be hosted by the non-profit Read more about Local initiative offering free virtual tax preparation to Ontario communities[…]
The goal of this partnership is to help free individuals of crippling short-term debt and teach crucial budgeting practices