Mar2012_No Interest Loans Scheme Expands
The Pine Rivers Neighbourhood Centre has expanded their No Interest Loan Scheme to accommodate the rapidly growing number of low income earners needing essential household items.
Over 50 loans have been given out in the past year totalling over $40 000. Essential household items that have been obtained include fridges, washing machines, car repairs, computers and medical expenses.
But NILS is not purely about giving out loans. The loans process requires clients to formulate a comprehensive budget in order to be more financially literate.
Over 50 loans have been given out in the past year totalling over $40 000. Essential household items that have been obtained include fridges, washing machines, car repairs, computers and medical expenses.
But NILS is not purely about giving out loans. The loans process requires clients to formulate a comprehensive budget in order to be more financially literate.
“Many people have no idea what money is coming and what is going out”, states NILS Development Coordinator Chris Mundy. “If you’re living on a low income, it’s especially important to be aware of how much money is being lost in bank fees or pay day loans that attract high interest rates”.
Pine Rivers NILS has also started working closely with the local CAP (Christians Against Poverty) organisation. CAP provide debt counselling and run CAP Money courses with the help of local churches. Through this partnership, the Pine Rivers community now has access to additional debt recovery assistance and free information sessions on how to handle their finances better.
The Pine Rivers No Interest Loans Scheme operates Mondays, Tuesdays, Thursdays and Fridays with the help of community volunteers. Loans of up to $1200 are available to low income earners for an essential household item only. NILS loans are not available for existing debts or household bills.
For more information please phone the Pine Rivers Neighbourhood Centre on 3205 2955 or email nils@prnc.org.au. Information on CAP Australia is available from www.capaust.org.
Pine Rivers NILS has also started working closely with the local CAP (Christians Against Poverty) organisation. CAP provide debt counselling and run CAP Money courses with the help of local churches. Through this partnership, the Pine Rivers community now has access to additional debt recovery assistance and free information sessions on how to handle their finances better.
The Pine Rivers No Interest Loans Scheme operates Mondays, Tuesdays, Thursdays and Fridays with the help of community volunteers. Loans of up to $1200 are available to low income earners for an essential household item only. NILS loans are not available for existing debts or household bills.
For more information please phone the Pine Rivers Neighbourhood Centre on 3205 2955 or email nils@prnc.org.au. Information on CAP Australia is available from www.capaust.org.
