No Interest Loan Scheme

About NILS®
Mid Mountains No Interest Loan Scheme (NILS®) provides no interest loans to people on low incomes living in Linden, Woodford, Hazelbrook, Lawson, Bullaburra and Wentworth Falls

What will NILS® provide loans for?
These loans may be used to purchase household items, medical / dental equipment,  for other worthwhile purposes such as recreational / educational / vocational expenses or driving lessons, for repairs, and other ‘one-off’ and unexpected expenses.

To read the Home Energy Action (HEA) Appliance Program promotion about ENERGY SAVINGS FOR PEOPLE ON LOW INCOMES, click here.

NILS can also be used to purchase a Solar Energy or Solar Hot Water system to reduce your bills in the long-term.

Click here to find out more about solar panel no interest loans.

Loans are not provided for emergency relief or everyday living expenses such as food, electricity, phone or rent bills.

Community Money
The funds to provide for these loans comes from the community and prompt and complete repayment enables the providers to re-lend the money to other needy members of the community. If you are experiencing difficulty repaying your loan contact your NILS® lender as soon as possible.

Repayments
Repayments are tailored to suit individual circumstances
The term of the loan is usually 12 – 18 months

How much can I borrow?
The maximum loan is dependent upon your ability to repay, however the usual maximum is up to $1,200.

Are you eligible for a No Interest Loan?
Can you answer yes to the following questions?

  • Are you on a low income, i.e. holder of a Pension or Health Care Card?
  • Have you lived in the area for the last six months?
  • Do you have the ability to repay the loan over a 12 -18 month period?
  • Are you unable to qualify for other affordable loans?
  • Will this loan improve the health and well-being of you or your family?

How can I apply for a loan?
If you have answered ‘yes’ to the questions above, ‘Are you eligible for a No Interest Loan?’, then you will need to:
1. Gather the following documents:

  • Your current Income Statement from Centrelink or Pay Docket from your employer
  • A document showing length of stay at current accommodation, e.g. Lease, Driver’s License or other identification
  • Details of your usual household expenditure, including most recent rent receipt or mortgage statement, telephone, gas and/or electricity accounts.
  • Any other outstanding accounts
  • Copy of your most recent bank statement

2. Obtain written quotes for the item/service you wish to purchase.
3. Ring Mid Mountains Neighbourhood Centre 4759 2592 or drop in to make an appointment for a loan interview.
4. Attend a loan interview, ensuring you bring all those documents.

Decisions about loan applications are made by a loan assessment committee. Clients are advised of the committee’s decision within 10 days following their interview.

Click here to download the NILS Information Pack

A useful site with budget planners and other information is the MoneySmart site.

NILS® is funded by NAB and Fair Trading and the Federal Department of Health.