You are here: HomeAbout UsNews & StoriesStories › A Million Thanks To No Interest Loans

A million thanks to no-interest loans

14 February 2014

A million thanks to no-interest loans

A Salvos no-interest loan scheme (NILS) has given out $1 million to disadvantaged Australians for essential goods and services since it began over two years ago.

The small-scale NILS loans are for those who are unable to access affordable finance. People can borrow up to $1500, with no interest or fees charged, and the option to pay the loan off over 18 months.

Many who take up the loans come from difficult backgrounds and may be living in refuges or transitional housing.

The loans are taken out to cover a range of needs and services, from fridges or car repairs to veterinary expenses and educational training fees.

Australian Eastern Territory Moneycare Consultant Tony Devlin says that the work their team does goes beyond just providing financial assistance for people.

“It’s not just about providing a loan,” says Mr Devlin. “It’s also about introducing people to The Salvation Army, making good referrals and linking them in with other services.

“The scheme also provides everyone who comes in with some money management skills, whether they get a loan or not.”

There are now 12 NILS centres in the Australian Eastern Territory. More than 900 loans have been provided, with the average loan being just over $1,100.

Mr Devlin says the achievement of reaching $1 million in loans provided is a testament to the hardworking and highly-skilled Salvos NILS team, many of whom volunteer their time for the service.

“It’s just about doing our job every week and getting loans out there to people who really need them and can’t get them otherwise.

“We try and meet the need as it comes up as best we can, whether that be a financial need, or otherwise,” says Mr Devlin.

By Nathalia Rickwood

Comments

No comments yet - be the first.

Leave a Comment


- Will not be published

Email me follow-up comments

Default avatarWould you like to add a personal image? Visit gravatar.com to get your own free gravatar, a globally-recognized avatar. Once setup, your personal image will be attached every time you comment.

  • The Facebook logo
  • The X logo
  • The Youtube logo
  • The Instagram logo
  • The LinkedIn logo

The Salvation Army Australia acknowledges the Traditional Owners of the land on which we meet and work and pay our respect to Elders past, present and future.

We value and include people of all cultures, languages, abilities, sexual orientations, gender identities, gender expressions and intersex status. We are committed to providing programs that are fully inclusive. We are committed to the safety and wellbeing of people of all ages, particularly children.

Five Diversity and Inclusion logos

The Salvation Army is an international movement. Our mission is to preach the gospel of Jesus Christ and to meet human needs in his name with love and without discrimination.

uat.salvos.org.au

13 SALVOS (13 72 58)

Gifts of $2 or more to the social work of The Salvation Army in Australia are tax deductible.Details and ABNs

Subscribe to our mailing list
Hope where it's needed most

Top