EDP : Mini Tech Loan Guidelines


For computers or software additions or upgrades costing between $100 and $2,000, NSILC offers a 4% interest Mini Tech Loan, with a minimum monthly payment of $20. The maximum repayment period is 2 years.


Who is eligible to apply?

  • Self-declared disability

  • Age 18 and over

  • Operating a business in Saskatoon

  • Canadian citizen

  • People of all income levels may apply

  • An applicant must have an ability and willingness to repay a loan.


All loan applicants require a vendor quote that specifies the cost of the equipment or software that will be purchased with the loan. NSILC can extend loans in amounts lower than the cost of the technology, but cannot extend a loan in an amount great than the cost of the software or equipment.


NSILC will extend loans to purchase a broad range of technology. Examples include, but are not limited to the following:

  • Computers and peripherals

  • Accounting software

  • Business software


Mini Tech Loan Repayment Terms

The length of the loan term is based on the expected useful life of the software or technology purchased.

Examples of repayment terms for various types of loans are as follows:

  • Computers and peripherals – 1 to 2 years


If NSILC has not established a loan period for a specific type of technology, staff will consult with knowledgeable individuals to determine the expected useful life of that type of technology.

If the loan is repaid in full within the specified time period, 50% of interest paid will be refunded to the applicant.

While NSILC’s criteria for approving mini-loans are more flexible than the loan criteria of most banks, NSILC requires a reasonable expectation that the borrower will repay the loan.

The three most important criteria that are considered for a NSILC mini-loan are:

  • Credit history

  • Debt-to-income ratio

  • Capacity to repay


When the applicant has a history of credit problems, the applicant must be able to demonstrate that he/she has a workable plan to deal with those problems. A pattern of adverse credit actions that cannot be adequately explained and has not been adequately dealt with will result in a decision not to approve the loan.


For more information, please contact Heather or Marlea at (306) 665-5508.


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Call Us: (306) 665-5508   /  info@nsilc.com   /  237 5th Ave N Saskatoon, SK S7K 2P2

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