Federal Government supports NAB microfinance programs

The Federal Government has announced a commitment of $18.5 million in funding to Good Shepherd Youth & Family Service and over 300 community agencies to grow three NAB supported microfinance programs for financially vulnerable Australians.

The No Interest Loans Scheme (NILS®), StepUP low interest loans and AddsUP matched savings program will all receive funding.

NAB’s General Manager Community and Corporate Responsibility, Tim O’Leary, said “the high-touch nature of these programs means that operational funding is key and demand can quickly outgrow the infrastructure in place to deliver them. The funding will help us continue to grow these programs with Good Shepherd and our other community partners and will double the number of financially vulnerable families who are able to access these loans and savings programs over the next two years”.  

To read more about NAB’s microfinance programs visit nab.com.au/microfinance