No Interest Loans Scheme®
Caring for a family member or friend sometimes involves unexpected costs, which can take a toll on your finances, especially if you are on a low-income.
In partnership with Good Shepherd Microfinance, Carers Queensland offers No Interest Loans (NILS®) to eligible carers.
The NILS® scheme provides interest-free loans for carers on low incomes.
It is a community-based program that gives carers access to fair, safe and affordable credit for the purchase of essential goods and services such as a fridge, a washing machine or dryer.
How does NILS® work?
When a borrower makes a repayment to a NILS® program, funds are then available as a loan for someone else in the community. This is called ‘circular community credit’ and this is a real demonstration of the community in action.
How much can you borrow?
The amount you can borrow varies. It can be as little as $300 or as much as $1500.