Loan scheme for battling residents
THE Neighbourhood Centre’s no-interest loan scheme is available to all holders of a health care card who have been residents of the Douglas region for at least six months and meet certain criteria.
Since the scheme began 18 months ago, co-ordinator Megan Blacklow has issued 33 applicants cheques of up to $1000.
The Good Shepherd charity started this brilliant idea over 30 years ago and the National Australia Bank underwrite the project.
In the Neighbourhood Centre’s case, there is $50,000 available for distribution which is constantly being topped up with repayments from loan applicants.
Megan said with pride that of the $31,000 she has lent, $21,000 has been repaid, with some clients applying for assistance more than once.
The loans are usually for essential items such as fridges, washing machines, kitchen appliances and furniture.
The most unusual request Megan has been able to help out with was for part payment for braces for the daughter of a local resident suffering financial hardship.