COMMUNITY SUPPORT PROGRAMS
NO INTEREST LOAN SCHEME - LOAN PURPOSE AND DURATION
- The provision of a NILS loan must be seen as an alternative form of credit.
- 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.
- Refer to Loan Purpose for a list of suggested items the Centrecorp Foundation NILS will provide loans for.
- 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
- 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
The loan generally should not exceed 6-12 months