Alberta Financial Support for Self Employed

Financial services for different situations

As gratifying as self employment can be, seasoned freelancers know that there are times when the money can be tight. In spite of the freedom to do almost anything you want for a living, you might feel trapped or limited if an unexpected emergency disrupts your ability to earn. Current events, personal emergencies, and other forces beyond your control could throw a wrench in your income at any time. Luckily, there is financial assistance available for Alberta’s self employed residents.

Navigating local resources can be frustrating, and it’s not always clear what supports are available to self employed workers. Luckily, there are self employed benefits in Alberta and personal loans that can help you weather any storm. You can opt into federal self employed benefits, but there is also Alberta Works financial support as well as personal loan options.  

The type of support you are eligible for will depend on your circumstances, what you need the money for, and how urgent your request is. Dire situations will help you qualify for emergency services, while others may require you to take a personal loan. Regardless of your circumstances, it is important to know what your options are so you’re prepared for whatever life throws your way.   

Resources for Self Employed Workers in Alberta

Emergency Financial Help Alberta

If your situation is an emergency, you may qualify for emergency financial assistance. The eligibility criteria for Alberta Works financial support includes: 

You are a current Income Support client

You are an Albertan earning an income, but you do not have enough money to cover this one-time, short-term emergency that will last no longer than a month

You meet the Income Support program eligibility requirements

Typically, financial help in Alberta is restricted to dire emergencies and one-off situations where you might be down on your luck. There are exceptions to this rule, such as the income support program. The income support program limits how much you can have in terms of income and assets, so it’s best to seek other avenues of support if they are available.

Child Care Subsidies in Alberta

Families earning less than $75,000 per year can seek child care subsidies for children under the age of 12. If you are self employed, even if you work from home, you shouldn’t need to take time away from your work for child care. Eligible families can subsidize part of their daycare and out-of-school care costs.

Educational Resources

Both college age and adult learners may be eligible for subsidies, scholarships, and bursaries for their education. In addition to loans for postsecondary education, Alberta also offers resources to adult learners looking to upgrade their education or improve their English skills. These services can help you get a new degree, localize a degree you received abroad, or help you learn all new skills!

Personal Loans for Alberta’s Self Employed

Outside of the above services, self employed Albertans are largely responsible for their own support. For those who need extra cash but don’t meet any of the financial aid criteria, a personal loan is most likely your best option. Personal loans can help you cover a broad range of expenses, even expenses that aren’t related to your business. Loans can help you pay off high-interest debt, be used as a cash advance, and more! Personal loans can help you overcome all kinds of capital barriers. As an independent contractor, it is not always easy to get a business loan. Despite how much you may earn, many banks don’t like to take on the so called “risk” of lending to people without a traditional employer. Getting small loans in Alberta can be difficult for independent contractors who can’t get a letter from HR verifying their employment and income. Thankfully, there are independent lenders who specialize in helping the self employed borrow money at affordable rates. Moves offers online loans for self employed workers, freelancers, and independent contractors in Alberta. Not only are the small loan rates among the lowest in Canada, with Moves, you can access affordable loans without being slowed down by bureaucracy or credit checks. Instead of evaluating your loan application based on outdated credit models, Moves evaluates creditworthiness with your financial behaviour. Freelancers, gig workers, and self employed persons can apply for a loan from Moves and get approved almost instantly, making it the best choice for busy freelancers.

Apply for a low-fee loan today!