My microloan is paid in full. Now what?

Congratulations! The final payment on your microloan has gone through. Here is what you should know about closing your microloan with Windmill.

  1. If the payment was pulled from your account successfully and there are no fees, charges, or outstanding payments remaining (like arrears), your microloan will be 'Repaid'
  2. If there is any remaining balance on your loan when the end of the term has lapsed, the Loan Management team will be in contact with you to discuss actions for final payment
  3. Windmill's accounting team will report your microloan as Account Repaid to Equifax in the subsequent reporting period
  4. You will receive confirmation via email to the address on your account as soon as your loan is Repaid.

Windmill's Alumni team will continue to get in contact with you as you will be a valued member of our Alumni group. The Alumni group at Windmill have access to events in locations across Canada as well as mentorship opportunities and information that can help you succeed in your career. We hope to continue our relationship with you, even after your microloan is paid in full.


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Windmill is the author of this solution article.

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