communitybuilders.nsw - Funding & Awards - Funding programs - No Interest Loan Scheme NSW NILS Services

Text Only Version

Full graphics version

Home > Funding & Awards > Funding programs >

No Interest Loan Scheme - NSW NILS Services

Funder: NSW Office of Fair Trading

Program summary

The NSW No Interest Loan Scheme (NILS) is a community managed microcredit state-wide program providing fee and interest free loans of up to $1,200 to low income earners for the purchase of essential household or medical goods and services. The most common services are medical or dental services or sometimes loans for motor vehicle repairs where the applicant is in a community without public transport.

NSW NILS Services are to facilitate access to interest free microcredit by low income earners in NSW by:

providing information on the operations of NILS to its clients and the local community,
interviewing NILS loan applicants and assessing their eligibility,
overseeing the loan application process,
organising the repayment of loans,
providing support to loan recipients in meeting thier repayment to prevent defaults,
monitor progress of loan repayments, and
maintain records of loans including statistical information.

Key dates

Closing date of next funding round to be advised

Current funding period 1 September 2008 to 30 August 2009. Next call for applications May 2009.

Who can apply?

Applications can be made by:

financially viable organisations which are incorporated in NSW;
not-for-profit community based organisations which will utilise the funding to operate a NILS scheme free of charge to consumers within NSW.

Who can't apply?

Applications cannot be made by:

commercially operated (for profit) organisations; or
organisations or individuals wishing to provide or conduct services in a State or Territory other than in NSW.