NILS Northern Rivers
No Interest Loan Scheme ®
The Northern Rivers No Interest Loan Scheme (NILS ®) has been established by the Lismore Neighbourhood Centre to provide interest and fee free loans to people who live in the local government areas covered by the 2480, 2470 and 2474 postcodes on low incomes.
NILS offers a viable alternative for people who face barriers in gaining access to small amounts of credit on fair and reasonable terms for the purchase of basic and essential household goods.
How much can be borrowed?
The maximum amount of the loan currently available from LNC is $1200
What can I purchase with a NILS loan?
NILS loans can be used to buy essential household items such as
- White goods – fridges, washing machines
- Essential electrical goods
- Furniture
- Approved medical equipment
- Other approved worthwhile purposes
NILS will not provide loans for:
- Second hand goods
- Emergency relief
- Debt repayment
- Tenancy bonds
- General living expenses, e.g. phone
- Where other funds are available
How do you know if you are eligible for a NILS loan?
If you answer ‘yes’ to the following questions you are eligible to apply for a No Interest Loan through Lismore Neighbourhood Centre:
- Are you on a low income, e.g. the holder of a health care card?
- Have you lived in the 2470, 2474 or 2480 post code areas for at least the past six months?
- Can you repay a loan of up to $1200 in approximately 7 months?
- Are you unable to qualify for other affordable finance?
- Will this loan improve the health and well being of you or your family?
Call the Centre on 6621 7397 between 9.30am – 3.30pm Monday to Friday for application form details.
Community Money
The funds that provide NILS® loans come from the community. Prompt and complete repayment of your loan means that LNC NILS® can lend out the money to other people in your community who are also in need of this service.
