UK Interst Free Loan Scheme Expanded for Britons For Fiancially Vulnerable
Interest-free loan scheme expanded to reach up to 20,000 Britons This article is more than 1 month old From September measure to help financially vulnerable will be rolled out further after successful trial The no-interest loan scheme is backed by the Treasury but run by credit unions and other lending organisations. Photograph: fstop123/Getty Images/iStockphoto PA Media Sun 19 Jun 2022 11.27 BST A government-supported scheme that provides interest-free loans to the financially vulnerable will be expanded to reach up to 20,000 people. The no-interest loan scheme (Nils) , which is backed by the Treasury but is run by credit unions and other lending organisations, successfully underwent a trial in Manchester and from September will be rolled out on a trial basis in some other parts of the UK. It aims to offer emergency loans to those who would otherwise be turned down because of not being able to afford interest payments. Credit unions are helping Brito...