Affordable alternative

5 May 2020|Community News| Off Comments off on Affordable alternative|

THE No Interest Loans Scheme (NILS) is an affordable alternative for low-income consumers who face barriers gaining access to credit on reasonable terms.

NILS operates on the belief that all people should have access to essential goods and services for which credit is often a necessity.

NILS can help people financially with a wide range of items and services, including educational expenses, car registration and importantly, medical essentials like dentures and glasses.

The majority of NILS loans primarily provides funding to purchase essential homes items like fridges, washers and heating.

Being interest-free, a NILS loan is a more affordable option than a pay-day lender.

“Pay-day lenders are debt traps, pure and simple,” NILS chief officer John Hooper said.

“Last month, I saw a contract where a Tasmanian was paying $5,460 over three years in a consumer lease for a fridge that retails for just $1,797 – that’s an annual interest rate of 100 per cent.”

Member for Elwick Josh Willie is a service delivery partner for NILS.

“What that means, is that we can help you prepare the necessary information for accessing the No Interest Loans Scheme and submit an application when you’re ready,” Mr Willie said.

Goodwood couple Jim Trainer and Stephanie Smith recently secured a NILS loan for a new air conditioning unit.

“Being on a pension, it was a large expense for us to manage in one go,” Mr Trainer said.

“The Heat Pump Shop were good enough to tell us about NILS and Josh helped us apply.

“Within a day, NILS had approved our no-interest loan.”

NILS offers its clients the chance to pay back a loan without causing undue financial stress.

For more information, contact NILS Network Tasmania on 1300 301 650.

Caption: Member for Elwick Josh Willie, centre, with Jim Trainer and Stephanie Smith who secured a loan for a new air conditioning unit.

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About the Author: Glenorchy Gazette

The Glenorchy Gazette is your monthly community newspaper, reaching over 24,000 homes and businesses in the Glenorchy municipality. It is the product of Nicolas Turner, Justine Brazil, Ben Hope, Simon Andrews, Tobias Hinds and guest contributors, with support from advertisers.

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