Growing the NILS footprint
NAB has released a new report “Growing the NILS footprint” detailing the history of its support for the No Interest Loan Scheme (NILS®*) managed by Good Shepherd Youth & Family Services.
The report provides an overview of how the program has expanded nationally; highlights its “whole of community” approach and details the lead role NAB has played to grow the program across the community via capital funding of $15 million. It also provides projections on how the program is expected to grow as funds are recycled back into community-led NILS programs.
Key points in the report include:
- Over 280 community agencies across Australia make up the NILS network
- NILS programs provide approximately 5,500 small loans per year
- The total value of lending in 2008 was $4 million
- 167 community programs sought $12, 252,000 in potential loan capital provided by NAB.
- In 2008, NAB and Good Shepherd Youth & Family Service allocated $10 million of loan capital across the nation to 142 community groups.
- Of the NAB-funded programs, 62 are new to the NILS network and 80 are existing NILS providers.
- 12 NAB-funded NILS providers specifically support the needs of Indigenous communites
- NAB has extended its support for the NILS network from $10 million to $15 million to further expand Australia's largest micro-credit program.
- Over the next 20 years NAB estimates with no additional loan funding, NAB-funded NILS providers will support over 200,000 Australians living on low incomes with a NILS loan.
Read NAB’s report here
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