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What's it mean to be one paycheck away from being homeless? For a low-income, working family, It could mean that buying their kid's shoes left them $80 short of being able to pay their rent... so they get evicted. And then they're homeless. And then it's expensive to help them get off the street, when it would have cost so little to keep them from becoming homeless in the first place. Enter the City of Vancouver with a program to help low-income residents through a temporary financial crisis with interest-free bridge financing.

The Vancouver Rent Bank is designed to help Vancouver's working poor, when they face eviction, loss of an essential utility, or are unable to pay the rent or the security deposit on essential, safe housing, all due to a temporary shortage of funds. The Rent bank offers short term, interest-free loans to families and individuals that live in the City of Vancouver, B.C.

Vancouver Rent Bank performance in it's first year of operation

• estimated 1,200 telephone inquiries for loans


• over 500 pre-assessments


• approved 137 interest-free loans


• loan sizes of $500, $800, and $1300


• average loan is $906


• helped 228 people, including 39 children


• prevented the evictions of over 200 people


• repayment rate of over 90%

To qualify, applicants must be current, or intended residents of Vancouver, B.C. They must be at least 19-years-of-age, low-income, steadily employed, They must have full, proper I.D. and a bank account. They cannot be going through bankruptcy. They must not qualify for any other type of government assistance. They must show the financial shortfall is temporary, and that it's well within their ability to repay the loan.

The loans are interest free with an administration fee. Monthly payments are automatically withdrawn from the recipient's bank account. The maximum repayment term is two years. The first step, for families, and individuals who think they qualify is filling out the pre-assessment form. You may also call 604-566-9685 for more information about the application process.

Connecticut, we owe you one

According to this housingjustice page, all current municipal rent banks, in form, and function, can be traced back to the Connecticut Eviction Rent Bank Program in 1989. The first Rent Bank program in Canada was established in 1998 in Toronto, Ontario.