Residents in Wanaka and Central Otago will have better access to no and low interest loans which focus on long-term financial wellbeing with the introduction of Good Shepherd NZ’s Good Loans programme to the area.

Supported by the Ministry of Social Development and Bank of New Zealand, Good Loans is designed to support those who need a financial helping hand while improving personal and financial wellbeing. 

It is being brought to the area with support from Presbyterian Support Otago (PSO).

“We are providing an alternative to the ‘shark type lenders’ who often don’t do a credit check and have hefty fees and interest rates,” Alexandra-based PSO Good Loans worker Michelle Copland said.

Good Shepherd NZ, which runs Good Loans, is a charitable non-government organisation and part of a global network spanning more than 70 countries. 

“Our limited income families are vulnerable and often an easier target for these companies.” 

The programme provides a fair and affordable way for people living on limited incomes to purchase essential items such as second-hand cars, car repairs, new household appliances, computers, course costs, debt solution loans and medical expenses.

Clients will work with Michelle to explore the best options for their financial situation and learn how to become more savvy in their understanding of the dangers of third tier lenders.

Debt solution loans are also part of Good Shepherd NZ’s DEBTsolve programme, which combines debt coaching, advocacy and debt solution loans of up to $10,000 to help with unmanageable debt. 

Michelle said she knows from personal experience that there is a lack of financial support for those in the region who don’t meet traditional banking criteria.

“When I moved to Cromwell, I spent many years as a single mother on an extremely tight budget struggling to meet my everyday costs. It was a very stressful time. I wish Good Loans was available when I needed it as this would have alleviated huge stress.”

For more information about Good Loans visit the website, call PSO on 0800 477 711 or email PSO on [email protected].

PHOTO: Supplied