Good Shepherd’s No Interest Loans now available to more people
Good Shepherd has introduced new criteria for it’s No Interest Loans (NILs). The program has undergone some changes to further support clients and reach a wider audience. With the rising cost of essentials such as fuel, energy and rent, the changes to NILs will ensure an additional 1.3 million Australian households will be able to access the scheme.
The project will integrate various offerings, streamlining Community NILs, Household Relief and Domestic Violence NILS to become one single credit offering in response to feedback the organisation has received from clients, network and partners which revealed barriers in reaching potentially eligible clients.
Fundamentally, the changes include:
- An increase to the maximum loan amount from $1,500 to $2,000
- An increase to the loan term from 18 months to 24 months.
- A change to the income eligibility from $57,000 gross annual income to $70,000 gross annual income for singles, and $75,000 gross annual income to $100,000 gross annual income for multiple person households (couples and people with dependents)
- A widened scope for loan purposes which now includes costs associated with household essentials, health and wellbeing, education and employment, housing, vehicles and transport.
To find out more about the scheme or to apply, visit Good Shepherd.