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Thread: Loans & Centrelink

  1. #1

    Join Date
    Oct 2013
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    South West
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    Default Loans & Centrelink

    Alrighty...

    So is there a way to get a decent loan while on Centrelink payments? My partner can't do it because he has a car loan that he's paying off atm and bad credit from previous relationship (gee thanks his ex!), I don't work and I used to have a little Jewellery making business back in highschool that's followed me throughout my life to now, but it's not a huge huge business it's more my friends and family will ask me to make them something, I find out cost of findings etc and give them a price and they send me the money, I order the things I need and I make it. It isn't exactly the best way to run a small business which is what I want to step this up to instead of just a "hobby"..

    Right now I have managed to contact a few suppliers who are willing to sell to me wholesale, but I need to do orders of $200+ to make it worthwhile to them. I'm in the midst of writing up a business plan to help me reach my goals, thing is, I don't want this to be a hobby anymore, I want this to be my own little business that I can do from home, the biggest thing in my way right now is not being able to get a loan to be able to just buy the stock I need and go ahead and knock out a bunch of stuff (and I have been researching on and off for the last 2 years following trends and things so I know where the market is!).

    I can't work because we live rural and there's no where that will hire someone who medically cannot drive due to seizures.. So this would be my way of earning my keep and to stop me going bonkers in the house while kids are at school..

    So where are places that I could seek out to find out about small loans? Does anyone have any experience or stories to share about what they did and tried?

  2. #2

    Join Date
    Oct 2009
    Location
    Bonbeach, Melbourne
    Posts
    7,177

    Default Re: Loans & Centrelink

    Google NILS (no interest loans scheme)

  3. #3

    Join Date
    Sep 2007
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    Default Re: Loans & Centrelink

    Look into the NEIS scheme instead. NEIS is for helping people set up a business. What you're thinking of may not be big enough, but it might be worth finding out.

    NILS is only for household items or medical equipment. Usually one or two things. They pay for your goods & you pay them back. Its not a cash loan/finance. I highly doubt you'd be able to use it for something like this.

  4. #4

    Join Date
    Oct 2013
    Location
    South West
    Posts
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    Default Re: Loans & Centrelink

    Zulu- I looked into NILS and the closest is a long drive for me to get too, plus when I rang and talked to them they weren't able to help but thank you for the suggestion..

    Clover- Thank you! Not quite what I'm looking for but could be a start in the right direction, I do have my cert IV in Small Business but I don't have my certificate (completed but I moved and no idea where it is!), I have a business plan in the making (very hard to concentrate when the other half asks random questions and the kids are running around screaming)..

    I need to replace a few bits and bobs, biggest thing is extra storage and workspace so I can be organized (right now everything is out of boxes) and then stock because I have been running super low..

  5. #5

    Join Date
    Oct 2009
    Location
    Bonbeach, Melbourne
    Posts
    7,177

    Default Re: Loans & Centrelink

    We used a NILS loan to pay for the most part of our Homebirth. DH did NEIS, it's 8 weeks of full time study, so not ideal if you don't have someone to watch the kids, and the contract at the end is pretty strict for the 12 month period after in how much you need to be earning etc. Could you look into a CL payment advance?


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