Home Scam/Fraud You can get an interest free loan of up to £2,000 in...

You can get an interest free loan of up to £2,000 in new scheme

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A Government-supported scheme which provides interest-free loans to the financially vulnerable will be expanded to reach up to 20,000 people. The No Interest Loan Scheme (Nils), which is backed by the Treasury but run by credit unions and other lending organisations, has been successfully trialled in Manchester and from September will be rolled out in other parts of the UK.

It 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.

The pilot scheme will be expanded from existing locations in Herefordshire, Shropshire and Worcestershire from September to other parts of the country for a period of two years, with a decision to be made after that point over…

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