Australian not-for-profit Good Shepherd has made financial counselling and no interest loans available to people struggling to pay rent or cover household bills due to the ongoing impact of the COVID-19 pandemic.
The group’s ‘No Interest Loans’ program has been running for some time, but will now expand to provide 'Household Relief Loans Without Interest', a new offering catered to the many people who have never had to ask for financial support before but are now struggling.
“People are overwhelmed, they are distressed, and they often feel stigma and shame. This is a crisis that no one expected, it has hit suddenly and it is out of peoples’ control,” said Good Shepherd CEO Stella Avramopoulos.
“Good Shepherd’s financial counsellors and other front-line staff have supported many thousands of people since this pandemic hit. People need safe, reliable information and support to help them navigate the multiple challenges they are facing.”
The group’s offering includes both financial counselling as well as no interest loans of up to $3,000 for rent and utility bills, supported by the Australian government and NAB.
To be eligible, an individual’s income must be less than $60,000 gross, while couples or people with dependents must be earning less than $100,000. The Household Relief Loans Without Interest program is currently being rolled out across the country.
Good Shepherd will also continue its regular, non-COVID-related interest free loans which provides up to $1,500 to Australians for things such as washing machines, fridges, school needs or furniture; the loans are available to people on a healthcare card or who earn less than $45,000 per year.
Avramopoulos shared that Good Shepherd is already seeing people in financial trouble due to COVID, as well as those who are juggling the new money stress with other significant social vulnerabilities.
The Minister for Families and Social Services, Anne Ruston, has estimated the additional funding provided by the not-for-profit will help around 40,000 Australians access immediate financial relief and cover their household bills.
