MercyCare / News / No interest loans, a helping hand for many

No interest loans, a helping hand for many

Through the No Interest Loans Support (NILS) initiative, interest-free loans of up to $1500 are available to anyone wanting to build a better life to themselves or their family.

The loans can be used to pay for a broad variety of expenses including education and training, medical costs, mobility equipment, pet expenses, driving lessons, car repairs, household whitegoods and appliances.

There is no interest, no fees or charges involved.

And, once loans have been paid, people can apply for a loan top-up, also without interest.

MercyCare’s Capability and Inclusion Coordinator, Community Family and Children Suzan Armanious said there was an urgent need for financial assistance in the community and while many people sought out financial loans, few people know there is an interest-free option.

“The need is so urgent that many people fail to realise the extent of the interest they are paying on loans and how much more they will end up paying in the long run,” Ms Armanious said.

In the past year, Mercy Lending Services has seen a significant increase in requests for financial assistance.

As COVID-19 restrictions set in last year, the Mercy Lending Services team noticed a sharp rise in applications.

The team reported another surge in February, as many parents grappled with back-to-school costs.

Ms Armanious said the NILS program was a good option for many low-income families or those struggling to keep up with the daily cost of living.

“All they have to do is send us an enquiry and their documents and we’ll do the rest,” Ms Armanious said.

Make an inquiry:

The NILS program is a partnership between MercyCare and Good Shepherd Australia New Zealand, funded by the WA Department of Communities.