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Connections No Interest Loan Scheme (NILS®) offers interest free loans for families and individuals on low incomes for the purchase of essential household goods.

What is NILS®?

Connections believes that individuals and families on low incomes should have access to essential household goods for which credit is often a necessity. Unfortunately, many of those on low incomes have no option than to purchase second hand or substandard items, often without any warranty and that require regular repairs or early replacement.

The Connections NILS® program seeks to provide low income consumers access to credit on a fair and reasonable terms and without the burden of high interest charges to purchase essential household goods, such as a new washing machine or a fridge. Loans for key educational or health equipment, such as a computer for a student may also be applied for. NILS® loans are not available for recurring expenses, such as rent money or everyday living expenses such as food.

The National Australia bank has made $120,000 available for Connections to provide these affordable loans.

To be eligible for a loan

• You must either be a client of Connections or live in the City of Stonnington
• Be the holder of a current Healthcare card or be in receipt of a Centrelink payment
• You should have resided at your current address for a minimum of six months
• You must be willing and able to meet the repayments on the NILS® Loan.
• For example, the repayments on an $800 loan would be $20.50 per fortnight.

Loan conditions

• Generally, loans will be limited to $800 but amounts of up to $1200 may be considered in special circumstances
• Limited to one loan at a time
• Normally loans are to be repaid over 18 months
• Generally only new items will be considered.

Applicants are required to attend an interview to assess their willingness and capacity to repay any loan.

Applications are usually decided within two weeks from the date of the application being completed. Once approval is given, a cheque will be made out to the supplier.

NILS® allows you to choose which model appliance you buy with the loan. You can utilise the services of the Good Shepherd Buying Service (03 9419 5477) to find the best price for the appliance model you are looking to buy.

Repayments are made fortnightly and the preferred method of repayment is using Centrepay.

Successfully repaying a NILS® loan may help applicants to gain future commercial credit, such as interest free terms offered by most electrical and home wares retailers.

Connections acknowledges that the NILS® concept was developed by The Good Shepherd Youth and Family Service, which has accredited Connections to be a NILS® provider.