No Interest Loan Schemes (NILS)

A community-run program lending money to low income earners who have difficulty accessing affordable commercial credit.

The loans are intended to attain affordable commercial credit so borrowers are able to buy essential household items, such as a washing machine, fridge or medical appliances.

A typical NILS loan is for around $600 - $1,000 and repaid over a year. As loans are repaid over 12-15 months, the money is lent out again to other people in the community. NILS are run by local community groups such as Neighbourhood Centres or charities.

A web site for community groups has been created covering such issues as:

• What No Interest Loans are, and how they operate
• What is needed to set up a NILS
• Where to get funding
• Where to get further advice.

For further information

Contact	:	Lyn Trindall, Convenor NILS NSW Network
Address	:	Winmalee Neighbourhood Centre
Phone	:	02 4754 4050
Fax	:	02 4754 4607
Email	:	convenor@nilsnsw.org.au

WWW

:

http://www.nilsnsw.org.au/