No Interest Loan Scheme - Camperdown Community House
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No Interest Loan Scheme

Camperdown Community House No Interest Loan Scheme

No Interest Loan Scheme

Did you know that Camperdown Community House is now the local provider of the No Interest Loan Scheme?

It provides individuals and families on low incomes with access to safe, fair and affordable credit.

WHAT IS NILS?

The No Interest Loan Scheme (NILS) provides individuals and families on low incomes with access to safe, fair and affordable credit.

Loans are between $300 and $1200 for essential goods and services such as fridges, washing machines and medical procedures. Repayments are set up at an affordable amount over 12 to 18 months.

To be eligible for NILS you must have a Health Care Card or earn less than $45,000 a year (after tax). Loans cannot be used for cash, bond, rent arrears, debt consolidation, holidays or bills.

HOW DOES NILS WORK IN YOUR COMMUNITY?

NILS isn’t a payday loan and it’s not a bank loan. NILS works through a process called ‘circular community credit’. This means when a borrower makes a repayment to NILS, the funds are then available to someone else in the community.

WHAT ARE THE LOANS FOR?

Loans are available for the purchase of essential goods and services.

These may include:

Household items like fridges, washing machines, stoves, dryers, freezers and furniture

Some medical and dental services

Education essentials such as computers and textbooks

Some other item as requested

TO QUALIFY YOU MUST: 

  • Have a health care card/pension card
  • Reside in your current premises for more than 3 months within the Corangamite Shire
  • Show a willingness and capacity to repay

 HOW TO APPLY:

  • Enquire: Camperdown Community House on 03 5593 1403
  • Interview: Bring your documentation to a meeting with a local loan provider
  • Assessment: Your loan application is assessed
  • Outcome: You are informed of the outcome of your loan application and agree to the repayment terms

Our Corangamite NILS coordinator Melissa can be contacted on 5593 1403 or by emailing corangamitenils@gmail.com

Camperdown Community House
office@camperdownch.com.au
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Camperdown Community House is a great place for people to come together to socialise, learn new skills and have some fun.