NILS Scheme Will Help Financially Challenged

A scheme to provide NO INTEREST loans to those in need is to be expanded to Wales and N Ireland. This from Nation Cymru:

“A new scheme supported by the Welsh Government which provides interest-free loans to the financially vulnerable, will be piloted in parts of Wales from September.

“The No Interest Loan Scheme (Nils), which is backed by the UK Treasury and Welsh, Scottish and Northern Irish governments but run by credit unions and other lending organisations, has been successfully trialled in Manchester and aims to offer emergency loans to those who would otherwise be turned down due to not being able to afford interest payments.

“We fund items from household essentials and school uniforms through to laptop computers to access education and training, and tools and equipment to help people back into employment,” Nils says on its website….

“Customers are only allowed to have one loan with the programme, which they can have for between six and 18 months though the average length of time is 12 months.

“Borrowers can access between £100 and £2,000, with the average amount borrowed £500.”

Full link:

https://nation.cymru/news/interest-free-loan-scheme-to-be-piloted-in-wales-from-september/

Bernard Moffatt

AGS Celtic League (19th June 2022)

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