No interest loans

We help residents on low incomes living in Maribyrnong with No Interest Loans. You can borrow between $300 and $1200 to purchase essential goods and services that you might need urgently, and won’t pay any interest.

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What can I purchase?

Loans are available for essential good and services only, and may include:

  • household items like fridges, washing machines, stoves and basic furniture
  • some medical and dental services
  • educational items such as computers and text books.

Loans can not be used for cash, bonds, rent arrears, debt repayments, secondhand goods, holidays or bills.

How do I pay back my loan?

Monthly repayments are set up at an affordable amount over 12 to 18 months. If you are a Centrelink customer, you can make repayments to us via Centrepay. Once the money is repaid, you may be eligible to borrow again.

Am I eligible?

To qualify for a loan, you must have a healthcare or pension card, have lived in your current premises for more than three months, and show that you will be able to repay your loan.

Contact us to discuss your eligibility. If you are eligible, we will make an appointment to meet with you.

About the No Interest Loan Scheme (NILS)

NILS is a no interest loan scheme, where you can borrow money and only pay back what you borrowed. You don’t pay any interest.

Sometimes you can’t afford something that you and your family may need urgently. A NILS loan helps you buy it, and pay the money back over time.

NILS works on a process of continuous community credit. When a borrower makes a repayment on their loan, that money is then available to someone else in the community.

The NILS model was developed by Good Shepherd Youth & Family Services to help people facing financial difficulty in accessing safe, fair and affordable credit. Read more about NILS on the Good Shepherd Microfinance website.

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