Who we are
Malvern Hills No Interest Loan Scheme (Malvern Hills NILS) is a registered charity offering interest free loans to people in receipt of benefits or on low income who live in the Malvern Hills District Council area.
The organisation’s aim is to help people acquire essential items/services and avoid taking high-interest loans that add to their cycle of poor credit, unaffordable repayments and debt.
The service is administered by two volunteers based at the Citizens Advice office in Malvern.
What we do
Often when a family or individual with little or no savings needs to spend money unexpectedly, they might go to an unregistered, unregulated loan provider and incur punitive interest demands.
We offer an alternative source of funding to help people to acquire essential items/services and avoid taking out high interest loans. We do this by providing no interest loans of up to £300 for essential items. These include white goods, school uniforms, travel passes, medical appliances and shoes.
- The applicant undergoes an assessment process to ensure the loans are affordable and that we are not contributing to any potential debt issues.
- We purchase the required items or services, from local suppliers where possible.
- We arrange a realistic payment schedule reflecting personal circumstances and the level of loan.
- The applicant repays the loan generally within 12 months.