Canada's most accessible loans
Low child tax credit loan rates up to $1,500
Canadian Child Benefit is a great help to many Canadian families in meeting the needs of their children. It helps with the education costs until the child is 18 years old. It has been popularly known as the “baby bonus” over the years.
What you may not know is that you can get a baby bonus loan.
These benefits are guaranteed year-round, making them a qualified source of income when applying for a short-term loan with My Online Cash. Sometimes the costs of raising the kids don't come all at once during the course of the year. When something urgent comes up, using your baby bonus to get a child loan in a dire situation can make all the difference.
The benefits of baby bonuses vary based on a number of considerations. But in a family with several children, the credit can be $1,000 or more each month.
Take a look at the Canadian government's child tax credit calculator to better understand your own situation.
This money can be especially useful if the parents are temporarily struggling to make ends meet. Such a situation could be a perfect situation to use your baby bonus to access funds when you need them.
We allow you to use your baby bonus as part of your minimum required income to qualify for a child tax credit loan that can be as high as $1,500.
Our online credit process has streamlined everything to make it as smooth and easy as possible. The whole process usually doesn't even take an hour. You don't need collateral. There are also no limits to how you use your child discount loan.
For your convenience, we've also included a brief reference table below of the provincial programs available to increase the federal child tax credit. See the table below to see how government benefits play a role in baby bonus loans. There is also a table that allows you to quickly reference other county programs to supplement your federal child tax credit.
Amounts and eligibility may vary. Be sure to confirm this information with your own research.
Eligibility for a child tax credit
Why choose us for your baby bonus loans?
Honestly, we could fill a book with all the good reasons to choose Kwarta Loans. Here are just a few: Some of these reasons include:
- Our streamlined, online, fully digitized process makes it easy.
- Only 10 minutes needed to apply.
- Immediate decision on your application.
- A wide range of social benefits are counted towards minimum income qualifications.
- Everything, including our interest rates, is made clear and transparent.
- No hidden costs!
- Your refund will be as smooth and stress-free as possible.
- Just 5 minutes after approval and signature of your electronic agreement, your money will be transferred directly to your bank account.
Does your child receive tax benefits for a loan?
Are there any other social assistance benefits I am also eligible for?
How secure is my family's information?
Fun things to do with your child discount loan
Pay surprise fees
Things are constantly popping up in life that test our financial resources. This is even more true if you have children to care for. Maybe it's just something you forgot, or maybe it's something you couldn't possibly have foreseen. It doesn't really matter, somehow you have to come up with the money to cover it. Our flexible and instant process ensures that you can get the child tax loan you need, when you need it, with no worries and worries. We want to make your financial life – and that of your family – better.
Child care and dentistry
There are some costs that all parents are all too familiar with. Dental treatments can be very expensive. And every parent needs a break now and then. How much is childcare costing you these days? These are exactly the kind of situations for which the child discount offers a perfect solution. At any time of the day, any day of the week, you can access €1,500 to cover the unexpected costs that inevitably arise when raising a family. When most other lenders are closed, we are always ready to give you that financial helping hand when you need it.
Repairing the car
For many people, outside the home, the car that doesn't work is the biggest challenge. How do you go to work, get the kids to school, do the shopping, make sure you get to football practice on time? Life doesn't stand still as you save for the next month to pay for the repairs. Our child tax credit loan solution keeps you and your family on the go. It's fast, easy and convenient.
Fix up the house
We know you want a great home for your kids. However, everything will break if you use it enough. And what do you use more than your house. Has the roof leaked? Is the basement flooded? Nobody wants to live like that. And you certainly don't want your kids to live like that. Then a children's discount loan from Mijn Online Cash is exactly the solution you need.
What about a vacation?
We've all been there: things pile up and you're on the verge of total burnout. Under those circumstances, you don't feel like you can be the best parent you can be. Sometimes the only solution is an impromptu vacation. But if you didn't expect it to turn out like this, you may not have the cash to spare for the impromptu break you so desperately need. With a child tax credit loan from My Online Cash, you can enjoy that Pina Colada on the beach and watch the kids build their sandcastles sooner than you might think. Don't let a bad credit history hold you back if you really need that extra money to help the kids. We are less interested in what went wrong in the past than in what can go right today. If you can repay your loan, you qualify for a child support loan when life takes you by surprise.
CHILD TAX PER PROVINCE
| Province | Plan | Payment amounts |
|---|---|---|
| Alberta | Alberta Family Employment Tax Credit (AFTC) | Up to $2,064 per year. |
| Alberta Child Benefit (AFC) | Up to $1,128 per year for the first child and $564 for each additional child. | |
| Brits-Columbia | BC Early Childhood Tax Benefit (BCECT) | Up to $660 per year per child. |
| Manitoba | Manitoba Child Benefit | Up to $420 per year per child. |
| New Brunswick | NB Child Tax Benefit (NBCTB) | Up to $250 per year per child. A $100 per year allowance for low-income families for school supplies. |
| Newfoundland | Newfoundland and Labrador Child Benefit (NLCB) | Up to $398 per year per child for up to 3 children, or $486 per year per child for 4 or more children. |
| Mother Baby Nutritional Supplement (MBNS) | $60 per month for low-income families and children under age 1. | |
| Northwestern areas | Child Benefit in Northwest Territories (NTCB) | Up to $815 per year for children under age 6, scaled up to $2,445 per year for four children, plus $367 for each additional child. Up to $652 per year for children ages 6 through 17, increased to $1,956 per year for four children, plus $293 for each additional child. |
| Nova Scotia | Nova Scotia Child Benefit (NSCB) | Up to $625-900 per year per child, depending on the number of children. |
| Nunavut | Nunavut Child Benefit (NUCB) | $330 per child per year. A Territorial Worker's Allowance also pays $275 per year to families with one child, and $350 to families with two or more children. |
| Ontario | Child Benefit Ontario (OCB) | Up to $1,403 per year per child. |
| Prince Edward Island | PE island sales tax credit | Up to $55 per eligible dependent per year. |
| Québec | Child benefit (formerly known as Child Benefit) | Up to $2,472 per year per child, with lower amounts for additional children. A bonus of up to $867 per year is available for single-parent households. Allowances are also available for handicapped/handicapped children (up to $11,736) and for school supplies (up to $102). |
| Saskatchewan | Saskatchewan Low Income Tax Credit (SLITC) | Includes benefit of up to $136 per child for up to 2 children, up to the maximum family credit of $964 per year. |
| Yukon | Yukon Child Benefit (YCB) | Up to $820 per year per child. |
Alberta Maximum Permitted Charges for Personal Loans: 15% of principal. We charge: 15% of the principal sum. For a loan of $300 for 14 days: Total borrowing cost = $45 Annual Percentage = 391.07%
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FAQs
Can I get an advance on my child tax credit? ›
In 2021, it was expanded and is now available to most families with a child 17 or under. What is the Advance Child Tax Credit? In 2021, families are able to get 50% of the money available to them sooner through monthly advance payments of the Child Tax Credit.
How much child tax credit will I get Canada? ›The maximum Canada child benefit you could get is $6,765 per year for children under 6, and $5,708 per year for children aged 6 to 17. Your Canada child benefit is based on your family income from the previous year, the number of children in your care, and the age of your children.
What is a 310 loan? ›310-LOAN provides online payday loans and cash advances services. Surrey, British Columbia, Canada. www.310loan.com.
How do I claim child tax credit with no income? ›You do not need income to be eligible for the Child Tax Credit if your main home is in the United States for more than half the year. If you do not have income, and do not meet the main home requirement, you will not be able to benefit from the Child Tax Credit because the credit will not be refundable.
How do I know if I received advance child tax credit? ›You can also get information on the total amount of advance Child Tax Credit payments that were disbursed to you during 2021 from the following sources: The IRS's Child Tax Credit Update Portal (CTC UP); and. Your IRS Online Account.
Do you get money for having a baby in Canada? ›Benefits and credits for your children
A tax-free monthly payment made to eligible families to help with the cost of raising children. You can receive up to $6,400 per year for each child under 6 years old, and $5,400 for each child from 6 to 17 years old.
Eligibility criteria
To get the CCB, you must meet all of the following conditions: You must live with the child, and the child must be under 18 years of age. You must be the person primarily responsible for the care and upbringing of the child.
For 2023, the child tax credit is worth $2,000 per qualifying dependent child if your modified adjusted gross income is $400,000 or below (married filing jointly) or $200,000 or below (all other filers). The refundable portion, also known as the additional child tax credit, is worth up to $1,600.
What is a 520 loan? ›A 520 credit score personal loan can be a great way to get the money you need when you have bad credit. There are many lenders who are willing to work with people who have bad credit, and they can offer you very competitive rates.
What is an FFF loan? ›Flexible Financing Facility (FFF) Through built-in options in FFF loans, borrowers have the ability to tailor financial terms at approval or during the life of a loan. The FFF platform —LIBOR-based financing with embedded options—enables clients to manage currency and interest rate risks.
What is a 241 loan? ›
A HUD 241(a) loan is specifically designed for current HUD multifamily borrowers who want to upgrade an existing property, and can be used for expanding current buildings, buying new safety equipment, or even increasing a building's energy efficiency.
How much is the EITC for 2023? ›| Number of Qualifying Children | 2023 AGI Phase-Out Range: Single, Head of Household, Surviving Spouse, Married Filing Separately | 2023 Credit Amount Range |
|---|---|---|
| 1 | $21,560 to $46,560 | $9 to $3,995 |
| 2 | $21,560 to $52,918 | $10 to $6,604 |
| 3 or more | $21,560 to $56,838 | $11 to $7,430 |
This credit can be claimed for: Dependents of any age, including those who are age 18 or older. Dependents who have Social Security numbers or Individual Taxpayer Identification numbers. Dependent parents or other qualifying relatives supported by the taxpayer.
How much is federal Child Tax Credit? ›For tax year 2021, the Child Tax Credit is increased from $2,000 per qualifying child to: $3,600 for each qualifying child who has not reached age 6 by the end of 2021, or. $3,000 for each qualifying child age 6 through 17 at the end of 2021.
How much is the child tax credit for the advance? ›Most families will receive the full amount: $3,600 for each child under age 6 and $3,000 for each child ages 6 to 17. To get money to families sooner, the IRS is sending families half of their 2021 Child Tax Credit as monthly payments of $300 per child under age 6 and $250 per child between the ages of 6 and 17.
How much child tax credit advances? ›Starting July 15, 2021, eligible families will automatically begin to receive the first half of the CTC through advance monthly payments of $250 to $300 per child that will be paid directly by the Internal Revenue Service (IRS) through the end of the year.