COMMUNITY SUPPORT PROGRAMS

NO INTEREST LOAN SCHEME - LOAN PURPOSE AND DURATION

Loan Purpose

  1. The provision of a NILS loan must be seen as an alternative form of credit.
  2. A NILS loan enables people identified as living on low incomes to purchase essential household items. An essential household item is a service or item that improves the quality of life or enhances social and economic participation for a person who would otherwise not have the means to fair and equitable access to that participation.
  3. Refer to Loan Purpose for a list of suggested items the Centrecorp Foundation NILS will provide loans for.
  4. Loans are not approved for emergency forms of relief or items where other assistance is available including, but not limited to:
    • Bond and rent money
    • Rent arrears
    • Living expenses such as food
    • Gas, electricity or telephone bills
  5. Loans are not approved for:
    • Motor vehicles
    • Cash advances
    • Debt repayment and consolidation
    • Cheques payable to the loan recipient
    • Cheques to a third party for a private sale

Loan Duration
The loan generally should not exceed 6-12 months