No Interest Loans Scheme (NILS)- Fremantle

About No Interest Loans Scheme (NILS)- Fremantle

Many low income households face a major problem if they need to buy an essential household item, but don't have savings and can't get affordable credit. Community groups have devised 'No Interest Loan Schemes' (NILSO) to solve this problem. nA typical NILSO loan is for around $600 - $1000 for a washing machine, fridge or medical appliance. As loans are repaid over 12-15 months, the money is lent out again to other people in the community. NILSO are run by local community groups such Neighbourhood Centres or charities. LEVITICUS Loans by Mercycare and St Vincent de Paul Society are a similar low interest loan. Leviticus Loans is a No-Interest Loans Scheme that provides small loans for low-income people. The loans are for a maximum of $800 and are generally for white-goods and other essential goods and services. MercyCare : 9442 3444.nWANILS(Head Office) is based in Willetton - 1300 365 301