No interest LoansNon-interest bearing loans
The system is built on an Australia system and was implemented by an employee of Tenbury Citizens Advice.
The No Interest Loan Scheme from Good Shepherd MicroFinance.
No Interest Loan Scheme (NILS) is a Good Shepherd Microfinance (GSM) community-based program that offers loans of up to $1,800 to low-income people in Australia to buy basic home items or basic service. Loans from NSILS are interest-free and free of charge and are "circular loans " where the reimbursement of a NSILS loans provides funding for another NSILS loans to be funded in the Comunity.
NIL' s provider also offers customer finance advisory services. This program is aimed at improving customers: Fiscal performance, fiscal trust, fiscal, political, social as well as medical results. The Centre for social Impact (CSI) at the University of New South Wales (UNSW) has issued an unbiased assessment of the results of Nestlé's work. Assessment included stakeholders' workshop and bibliographic overview to provide information on the results frame as well as quantified surveillance information from 294 accelerated programmes and a sample phone poll among customers of AILS.
On the basis of the results of the questionnaire, an assessment of the socioeconomic effects was also carried out. Evaluations (using quantified surveillance from 294 accelerated programmes and a sample of 710 NILS customers by phone after lending and providing finance advice) had a beneficial effect on the following results:
General and monetary well-being: 8 out of 10 NILS customers (82%) reported a net increase in all four operating segments - financials, costsavings, financials as well as results in terms of income, expenses, social benefits and healthcare. Among these, 33% achieved economies of scale and 46% increased fiscal autonomy. Triple quarter of customers (74%) saw changes in their standards of life, stresses and anxieties, trust in performance, general trust and self-esteem, bodily well-being and/or interpersonal relations.
Finance behavior: Customers who were supported in providing finance advice together with their NILS loans were more likely to achieve beneficial business skills, as well as economical, societal and healthcare results. Analyzing the socioeconomic impacts on the basis of the customer results presented in the poll estimate that for every $1 spent on a NILS facility, an average of $1.59 in socioeconomic value was generated.
It has also been established that NILS is succeeding in targeting endangered groups. Whilst the survey found a favourable shift among program respondents, there was no peer group, so that no fixed cause and effect relationship can be established between the program and the results obtained.