Jubilee Resources makes no interest loans available for people on low incomes who need essential household items such as washing machines and fridges. The maximum amount for any loan is $1, 200.
Jubilee Resources No Interest Loans Schemes (NILS) has been an activity of CMP since 1997. Currently we make over 150 loans each year, with a total value of around $100,000.
Jubilee Resources NILS is committed to work in the Eastern suburbs of Sydney, and to offer people on low incomes the opportunity to access affordable credit for essential household items. No fees or interest are charged on the loans. As loans are repaid, the money then becomes available for other members of the community to utilize the service.
NILS is a model that was developed by Good Shepherd Youth and Family Service and is the largest microfinance network in Australia.
The Jubilee Resources NILS Team is made up of CMP members who volunteer their time to manage the work of Jubilee Resources.
Need a no-interest loan?
Click here to download the Jubilee Resources brochure. It will help you work out whether you are eligible to apply.
How do I make a difference ?
* Be trained to assess loan applications. You would need to be available on a voluntary basis at least once a week via email to complete assessments. Full training is provided.
* Become a member of the small group that provides support to the Jubilee Resources worker and to give oversight to this program. This involves monthly meetings to discuss the activities and participate in decision making about the operation of Jubilee Resources.
This is a good fit for people who are interested in household budgets and have an appreciation of the issues facing people on low incomes.
For further details please contact 0452 543 217, email [email protected] or visit https://www.facebook.com/NILSJubilee/. Brochures can be collected from Reception.