Tenbury NILS is a non-profit community project whose aims are to provide interest free loans to people who are in acute financial need, living in Tenbury Wells, Ludlow, Leominster and their surrounding areas. The scheme assesses applicants and successful recipients will normally be in receipt of Government benefits, or on a low income.
This is a fair and equitable model of credit based on a commitment to upholding individual dignity and respect.
You must have lived in the area for at least three months - negotiable depending on circumstances
You must be over 18, or have a guarantor
You must have the means to repay the loan
washing machines, refrigerators, tumble driers, heaters, or other small electrical appliances
the means to access employment or education; for example, purchasing a public transport season ticket, school uniform or equipment
We only make loans for essential purchases, such as:
You cannot use the loan to finance the repayment of debts, or to meet other outstanding financial obligations
Tenbury NILS works directly with the suppliers of the goods or services. we do not not provide cash loans
We expect you to repay the loan over a period of not more than 24 months, but we do take into account your financial circumstances
If we assess that you are in need of the item to be purchased, but you cannot make any loan repayments, we may make you a grant.
We give all loan or grant recipients advice on financial management and budgeting
We have respectful assessment and manageable repayment processes to ensure that when you make your repayments we can then use these funds for someone else in your community