The Community Finance scheme offers affordable loans for approved people on low incomes (wage earners or benefit recipients).
Loan applications are made through approved our Community Finance centres, which then work with you throughout the life of your loan, monitoring repayments and providing support and financial education.
Two types of loans are available:
Both loans are free of fees. They have different lending criteria, including what the money is for and the customer’s financial position. The BNZ is providing the loan capital.
Repayments are calculated to be affordable across the term of the loan for people on low incomes. High interest rates and unexpected penalty payments that can lead to unsustainable debt are not a feature of the Community Finance scheme.
If you find yourself struggling to repay your loan, please contact your Salvation Army Community Finance representative immediately to discuss your options.
You may be eligible to apply for a loan if you fulfil the following criteria:
The scheme is a partnership between The Salvation Army, the Ministry of Social Development, Bank of New Zealand and Good Shepherd NZ.