You are viewing an archived copy of this website captured Fri Feb 07 13:50:51 AEDT 2014
Department of Premier and Cabinet

Community Development Finance Fund

The $5 million Community Development Finance Fund was established in 2009 and was allocated as follows:

  • $1 million for the No Interest Loan Scheme (NILS) Micro-Finance Fund;
  • $1 million for the NILS Micro-Credit Fund; and
  • $3 million for the Social Enterprise Loan Fund through the Department of Economic Development, Tourism and the Arts (DEDTA).

The No Interest Loan Scheme (NILS) Micro-Finance Fund and NILS Micro-Credit Fund provide loan capital to the NILS Network of Tasmania for no-interest loans to the community.  Between 2010-11 and 2013-14, SIU has provided around $480,000 to the NILS Network of Tasmania to help cover the administrative costs for the new loan programs.

NILS Micro-Finance Fund

In 2010-11 the Government provided a $2 million loan facility and $120,000 per annum in additional administration funds for NILS to extend its loan purposes to eligible low income households through the NILS Network of Tasmania. Prior to the extension, loans were available for:

  • essential household items (white goods);
  • reunification for humanitarian entrants; and
  • moving expenses for women facing domestic violence.

The loan facility included a $1 million extension for the NILS Micro-Finance Fund, which allowed the following additional services to be provided:

  • car registration, repairs and tyres;
  • school trips, computers and textbooks for study;
  • spectacles and other small medical needs;
  • orthodontics; and
  • floor coverings, curtains and other general household maintenance.

NILS currently provides over 2,000 no interest loans each year. 

NILS Micro-Credit Fund

The $1 million for the NILS Micro-Credit Fund enables the NILS Network of Tasmania to provide capital funding to individuals and groups to establish micro-businesses. This program is administered by DEDTA.

Social Enterprise Loan Fund

The $3 million Social Enterprise Loan Fund (SELF) assists Tasmanian social enterprises to establish, expand or diversify commercially viable ventures that provide a social benefit. This program is administered by DEDTA.

More information about the no-interest Micro-Credit Fund and the Social Enterprise Loan Fund can be found on the Department of Economic Development, Tourism and the Arts website, or by phoning 1800 440 026.

Energy Efficient Appliances program

The $180,000 Energy Efficient Appliances program is an extension of the partnership between the State Government and the NILS Network of Tasmania to deliver the $1 million expansion of zero interest micro-finance loans. 

In 2012, this program provided a 30 per cent subsidy off the purchase and installation costs of energy efficiency measures in the homes of eligible clients through the NILS Network of Tasmania. In 2013, the Government introduced an 80 per cent subsidy for some items.

Products eligible under the Energy Efficient Appliances Program include:

  • energy efficient heating, such as heat pumps;
  • washing machines;
  • dishwashers;
  • fridges or freezers;
  • ceiling insulation; and
  • block-out curtains and pelmets.

For the 2012-13 financial year, 120 energy efficient appliance loans were subsidised to a total value of over $90,000. Just under 60 per cent of this funding went towards the purchase and installation of heat pumps.

To be eligible, people need to have a Health Care or Concession Card.

To find out more about the no-interest micro-finance loans, contact the NILS Network of Tasmania on 1300 301 650.