No Interest Loan Scheme (NILS)
The No Interest Loan Scheme (NILS) provides interest free loans to low-income individuals or families. The loans are for purchasing items up to $1,500.00.What are the Loans for?
Loans are generally available for the purchase of essential goods and services.
These may include:
- Household items like fridges, washing machines, stoves, dryers, freezers and some furniture
- Some medical and dental services
- Educational essentials such as computers and text books
- Some car related items
How does it work?
1
Enquire
Call 4774 0144 or use the enquiry form below for more information and an application form.
2
Gather Documents
All the necessary information required in the application form.
3
Assessment
The loans committee will make an assessment on your application, this can take up to 2 weeks.
4
Approval
Once approved, we will agree on affordable repayments over 12 to 18 months.
How NILS works in your community
With manageable repayments and a respectful assessment process conducted by our accredited Upper Ross NILS program, NILS works through a process of circular community credit. When a borrower makes a repayment to NILS, funds are then available to someone else in the community.
Do I qualify for NILS?
To qualify you must:
- Have a Health Care Card/Pension Card or be on a low income;
- Reside in the Upper Ross at your current premises for more than 3 months;
- Show a willingness and capacity to repay
A community focused initiative of Good Shepherd Microfinance.
Application Form
Download an application form to get started.