The Byron Community
No Interest Loans Scheme
No Interest No Fees No Charges
The Byron Community No Interest Loan Scheme (NILS) is a community-based program providing people on low incomes safe, fair interest-free credit to buy essential goods and services.
Interest free loan amounts are between $500 – $1,000 for essential goods and services such as fridges, washing machines and medical procedures.
Please note that loans cannot be used for cash, everyday expenses, debt consolidation, holidays or bills. Repayments are set up at an affordable amount over 12 – 18 months.
To be eligible you must:
- Be on a low income – often this means you have a pension/health care card
- Reside in your current Byron Shire premises for more than 6 months
- Show a willingness and capacity to repay.
How does it work?
Click the Enquire button above to complete a quick enquiry form, a NILS officer will respond within 24 hours. If you’re eligible, they’ll provide you with an application form. (You can also do this in person at the centre, or over the phone with us).
Fill out the application form. Just do your best, we’ll help you if you have any difficulty.
Bring your application form and documentation to an informal meeting with a volunteer Loan officer at the Byron Community Centre. Open Hours are:
- Mondays 10-12:30pm
- Tuesdays 10-3pm
- Wednesdays 1-3pm
Your loan application is assessed within about a week of submission.
Right after the assessment you are informed of the outcome of your loan application. If approved, you’ll be invited in to collect the cheque and agree on repayment terms.
How does NILS work in our community?
NILS isn’t a payday loan and it’s not a bank loan. NILS works through a process called ‘circular community credit’. This means when a borrower makes a repayment to NILS, the funds are then available to someone else in the community.
And once you’ve paid off your NILS loan, speak to us about our AddsUp matched Savings Plan.
For more info or to discuss an application, please
- call us 02 6685 6807
- Email us firstname.lastname@example.org
- Or drop by the Byron Community Centre at 69 Jonson St, Byron Bay, NSW.
Applications can also be obtained from the Mullumbimby Neighbourhood Centre at 55 Dalley Street, Mullumbimby, NSW from Mondays to Thursdays.