In the first episode of the Fair4All Finance Podcast, we delve into the world of No Interest Loans (NILS) and their importance in supporting financially vulnerable individuals.
Host Julie Kangisser speaks with key figures involved in the NILS pilot, including Kate Pender, CEO of Fair4All Finance, Tim Rooney of Salad Money, Joanne Angus of NEFirst, Darren Hughes of Capital Credit Union, and Chris Bennett of Fair for You.
They discuss the intricacies of providing No Interest Loans, the diverse demographics they serve, and the positive outcomes achieved.
You can listen to our first episode here, or on most mainstream podcast players and apps:
Note: The No Interest Loan Scheme (NILS) pilot provides small, short term, interest free loans to people for whom borrowing is an appropriate solution but who can’t access existing forms of credit. The pilot, which has been running following a successful proof of concept in 2022, is delivered by Fair4All Finance, Toynbee Hall and Fair By Design, with funding from HM Treasury, JP Morgan Chase, and the Scottish and Welsh Devolved Administrations.
Lending under the NILS pilot has now ended as per its original timescales, with over £10 million of affordable credit made available under the scheme. Any reference in the podcast to future no interest loan schemes would be outside of this pilot.
Click here for more information on the NILS pilot.
