The Fair Loans Foundation is extremely pleased to announce a new partnership with Nahri - a not-for-profit organisation dedicated to closing the Gap for Indigenous Australians. —
The partnership is one of the initiatives that Fair Loans has been deploying as a part of the Australian Government’s Community Development Financial Institutions pilot, which aims to improve the financial knowledge and resilience of vulnerable individuals and their families. This pilot was established by FaHCSIA and is now managed by the department of Social Services headed by Federal Minister the honourable Kevin Andrews MP.
‘Through our relationship with Fair Loans we can offer fair, affordable loans, to the Aboriginal and Torres Strait Islander community who often aren’t serviced by the mainstream banks’, says Paul Paulson, CEO of Nahri.
“People are applying through an organisation they know and trust; who understands their particular circumstances and has enormous local credibility,” said Mr Paulson.
Fair Loans is part of a long term strategy to assist vulnerable Australians out of the poverty cycle.
The personal loan program is designed to help people get their lives back on track; however the scheme offers much more than a loan. ‘Nahri will be able to provide tailored, realistic financial literacy training to help people make sound financial decisions. For many people in the community, it’ll be their first formal loan, so it’s crucial to know about budgeting and managing repayments’ he continued.
Fair Loans Foundation CEO Justin Hatfield says 'Our key strength is in providing emergency funding to those who are unable to access credit from mainstream institutions. We want to provide this service to as many Australians as possible and are excited about the partnership with Nahri, who have a successful track record in providing services to communities in Queensland. Mr Hatfield believes that ‘Nahri ‘s network of over 145 hubs throughout Northern NSW and Queensland provides a great opportunity to assist many more members of the Indigenous community than we have been able to reach so far.’
Since 2008, Fair Loans has been assisting vulnerable Australians out of the poverty cycle and towards financial inclusion. Local Mununjali Elder, Aunty Delores Paulson, welcomed the partnership which would help make a real difference to peoples’ lives. ‘It will help them on the right financial path, improve job prospects and build self-esteem’. ‘This program is another example of how strong partnerships between government, business and community can produce positive results for the local community,’ Aunty Delores said.
Release ID: 33055