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Chelsey is a 34-year-old single mother of two who came to Community Micro Lending through the Family Self-Sufficiency Program at the Burnside Gorge Community Centre. Chelsey is looking to establish herself as a full time mortgage broker with a local lending centre. She started two years ago under a senior broker and last spring she began working as an independent broker. She has recently, along with another broker, been offered the opportunity to open a new branch franchise in a Real Estate office that houses over 25 realtors.

As a relatively new broker who is not yet established and is paid wholly on commission, Chelsey’s biggest challenge is an income that is inconsistent and unpredictable. She thus works part-time as a server at a local pub to guarantee her family a steady income. Chelsey is applying for a $1,680 loan to pay six months of rent for office space at the new branch franchise. Working out of the office at the new branch will allow her to take advantage of the tremendous opportunity to build a client base and establish herself as a mortgage broker. She set herself an aggressive sales target.

The owner of the lending centre Chelsey works for describes her as a ‘keener who fits the mould’ for what she’s looking for in a mortgage broker. She adds that Chelsey is ‘no slacker’, is ‘doing all the right things’ as a new broker and ‘definitely belongs in the industry’.

Chelsey’s credit file indicates that she accumulated a substantial level of debt as a student, but has consolidated most of it, and over the past two years has made an effort to adequately service and reduce her debt. All her credit accounts are currently up to date.

The loan will provide “a great opportunity for me to build a name for myself,” Chelsey said. “I’m feeling torn as I wear many ‘hats’ in my life…I feel that my other job is taking away from my newly chosen career path.” Over the next year, Chelsey hopes to be able to quit her job at the pub and dedicate all her energy to being a mother and a broker. She has already been matched and is working closely with a Community Micro Lending volunteer mentor.

Loan term: 5 years

Loan star rating: