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Community Loans program
Due to an unprecedented number of applications our current wait times are between 4-6 weeks.
Your application will be placed in a queue in order of receipt (unless you have provided and notified us that you have a relevant notice) and will be picked up by one of our case workers as soon as practical.
As we are a small team we appreciate your patience and understanding while we work through the applications as quickly as possible.
Care's Community Loans offer a 0% interest loan for people in the ACT and surrounding NSW region, on low to moderate incomes. The loan is up to $2000 (subject to eligibility) and can be used to purchase goods and services.
What can be purchased?
Community Loans are available to purchase essential goods and services including:
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Household furniture
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White goods
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Electrical/electronic items
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Car related costs such as car repairs, registration
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Medical and Dental expenses (including pets)
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Educational expenses such as uniforms, courses, resources, etc
Please note, loans are not available for the following items:
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Food
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Rent
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Bills (i.e. utlity, phone)
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Cash advances
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Debts (i.e. credit card, personal / car loans) or debt consolidation
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Used vehicles
Eligibility criteria
To be eligible for a loan you need to:
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Live or work in the ACT or surrounding NSW region
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Stable accommodation (ie. renting, boarding, own home)
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Show capacity and willingness to repay the loan over 12-24 months
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Have a low to moderate income or receive government income support
How much can I borrow?
Eligible applicants can apply to borrow up to $2000. However this will be determined on your capacity to repay the loan. If the item you want to purchase costs more than $2000 then you are able to contribute your own funds to make up the difference.
*please note, loans are paid directly to the retailer/trader and not to the applicant.
What documentation do we require?
In order for us to assess your suitability for a loan we require the following documentation:
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A copy of your I.D/ concession cards
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Evidence of income such as a current Centrelink Income Statement and/or a minimum of 1 month's payslips
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The last 90 days transaction history for all bank accounts (including mortgage)
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The first 2 pages of your lease agreement or most recent rates notice
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Utility bills (eg: electricity, gas, water, phone/internet)
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Most recent statements for any other credit facilities
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Most recent statements for any 'Buy Now - Pay later', payday loans or 'rent-to-buy'
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Registration papers or proof of vehicle ownership (for vehicle related loans)
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Quote from the retailer/trader for the goods or service
Loan approval process
Once you have provided all required documentation and your loan has been assessed for approval, you will be asked to sign a loan agreement. This outlines the amount you will be lent as well as how many fortnightly payments you be required to pay.
