Please note: this is a new program that will start on 1 September 2008.

Program summary

The NSW No Interest Loan Scheme Program (NILS) is a community managed microcredit state-wide program providing interest free loans of up to $1,200 to low income earners for the purchase of essential household or medical goods and services. The most common goods for which loans are provided are washing machines and refrigerators and the most common services are medical or dental services. Occasionally loans for motor vehicle repairs are provided for applicants in communities without public transport.

Objectives

The objectives of NSW NILS Services are to facilitate access to interest free microcredit by low income earners in NSW by:

• providing information on the operations of NILS to its clients and the local community
• interviewing NILS loans applicants and assessing their eligibility
• overseeing the loan application process
• organising the repayment of loans
• providing support to loan recipients in meeting their repayments to prevent defaults
• monitoring progress of loan repayments
• maintaining records of loans including statistical information.

Key dates

Next call for applications will be March/April 2010.

Current funding period for the program is 1 September 2008 to 30 June 2010.

Who can apply?

Applications can be made by:

• financially viable organisations which are incorporated in NSW
• not-for-profit community based organisations which will utilise the funding to operate a NILS scheme free of charge to consumers within NSW.

Who can't apply?

Applications cannot be made by:

• commercially operated (for profit) organisations, or 
• organisations or individuals wishing to provide services or conduct services in a State or Territory other than NSW.

What will be funded?

The objective of the NILS program is to provide funding contributions for salaries and salary on-costs of employees of community based, non-profit organisations that operate in NSW to provide interest free loans of up to $1,200 to low income earners for the purchase of essential household or medical goods and services.

Current priorities

Fair Trading is committed to consumer protection and social justice and strives to ensure that the community has access to information and consumer help. This includes, in part, funding organisations that provide services to low income and disadvantaged clients throughout NSW.

Funded services

View the list of services approved for funding under the 2008/11 No Interest Loan scheme in PDF format (size: 48k).

How to apply

Information on how to apply can be accessed at the following links:

Covering letter in Word format (size: 190k)
Program guidelines in PDF format (size: 88k)
Good Shepherd Participation Agreement in PDF format (size: 359k)
Application form in Word format (size: 128k).

Want more information?

Contact Community & Industry Grants at grants@oft.commerce.nsw.gov.au or phone the Grants Officer on 9619 8731 or fax on 9777 8810.