Member for Myall Lakes Stephen Bromhead  said the Minister for Fair Trading Matthew Mason-Cox has ensured funding under the NILS will continue in Myall Lakes.

Fifty-eight not-for-profit organisations around the state will share in $6.6 million funding from NSW Fair Trading for the provision of NILS services from 2014-2017.

“The NSW Government is committed to supporting services like Manning Support Services and Forster Neighbourhood Services that work with vulnerable families on a low-income to purchase essential household goods and medical expenses,” Mr Bromhead said.

“I am pleased to announce funding of $53,062.29 to Manning Support Services and $39,796.72 to Forster Neighbourhood Services to operate the scheme.

“The scheme supports local families and residents who may otherwise be excluded from access to financial services many of us take for granted.

“No Interest Loans offer an alternative to high cost credit products such as payday lenders and rent-to-buy schemes.

“Since coming to the Fair Trading portfolio I have learnt about the real difference NILS has made to people’s lives.

“NILS is a practical hand up rather than a hand out with loans being repaid in more than 95 per cent of cases. This ensures funds are put back into the scheme to assist others and supports loan recipients to establish credit ratings and get finance in the future.

“It is very rewarding to be part of the collaborative partnership between Government and the private and community sectors to assist some of the most vulnerable members of our community and help sustain their future.

“NILS supports local residents who may have fallen on hard times and gets their life back on track. It is a major contributor to breaking the poverty cycle with loans paid back to help other financially disadvantaged members of the community who would otherwise not qualify for financial loans.”

For  further  information  on  how  to  apply  visit   www.nilsnsw.org.au  or contact  the  hotline  on 1800 509 994.