More than 1000 financially-struggling households could be helped by a newly-expanded no-interest loans service in Melbourne’s South East.
South East No Interest Loans (NILs) aims to provide safe and affordable credit for low-income families and individuals.
Loans of up to $2000 are available for goods such as fridges and washing machines, as well as medical and dental procedures, education expenses, car repairs and registration.
Up to $3000 are offered for rates, rent advances and bonds.
There is no security allowed on the loan, nor any credit checks. Repayments are made in affordable installments over 12 to 18 months.
The service is run by Emerald-based ECHO Youth and Family Services and funded by Good Shepherd Australia.
It has served the Dandenong Ranges for more than a decade.
It is now branching out to Melbourne’s South East and the Mornington Peninsula, including the Greater Dandenong, Casey and Cardinia Shire council areas.
ECHO chief executive Nicole Lane said South East NILs aimed to provide more than 100 loans a month.
“In a time when financial hardship is increasing, NILs is more important than ever.
“Our service has expanded as we receive extra funding to support the growth corridors, particularly Cranbourne, Frankston, and Pakenham.
“The funding is for one year, but if we can prove the need, we hope to receive ongoing support.”
Details: echo.org.au/nils or 0427 895 596
