Camperdown Community House is an unfunded community partner for the No Interest Loans Scheme in the South West.
We currently partner with Brophy Community Services to support members of our community to access this service. Support and information is available at the community house for Corangamite residents who wish to access this service.
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.
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
Other items as requested
Loans for car repair and purchasing is NOW available!
We can support you through the entire applicaiton process with information, document scanning and more.