LIMERICK Enterprise Development Partnership (LEDP) launched a no-interest loan scheme (NILS) designed to provide accessible, flexible financial support to individuals on low incomes across the Mid West.
The scheme, originally administered by Good Shepherd Limerick, provides small, manageable loans of up to €1,500 interest-free.
The NILS loan aims to reduce financial exclusion and give people the opportunity to purchase essential household items, or an immediate service, that improves their quality of life or enhances social and economic participation.
The scheme is run in collaboration with local partner organisations across the Mid West.
- External Walls: Up to €8,000 Grant
- Attic: Up to €1,500 Grant
- Cavity Walls: Up to €1,700 Grant
- Internal Dry Lining: Up to €4,500 Grant
“This initiative reflects LEDP’s ongoing commitment to acting as a catalyst for social inclusion and opportunity across the Mid West,” explained Niall O’Callaghan, LEDP chief executive.
“We know that many individuals are struggling to pay for basic goods and services, often in challenging circumstances. This no-interest loan scheme is about backing those individuals, and aims to enhance the dignity and respect of the individual while helping them gain some form of financial control and empowerment in their lives.”
The scheme operates on a client referral basis, where partner organisations refer people to the scheme in circumstances where otherwise they do not have access to affordable credit.
Partner organisations include Doras, Bergerie Trust, ADAPT, Community Law and Mediation, Limerick Social Services, Focus Ireland, The Irish Refugee Council, Moyross Community Hub, Our Lady of Lourdes CSG, North Star Family Project, St Munchins Community Centre, UL AccessCampus, Barnardos, Tait House, Southill Hub, and Good Shepherd Ireland.