When Essentials Can’t Wait: How a No-Interest Loan Can Help

Unexpected costs can put real pressure on a household budget. Whether it’s a broken cooker, school essentials, or emergency travel, the expense can feel overwhelming—especially if there are no savings to fall back on.

Boom Community Bank’s No-Interest Loan Scheme (NILS) is here to help. These small, manageable loans are designed for people who can afford to repay but may have difficulty accessing loans from mainstream lenders.

Local Initiatives: No Interest Loan Schemes

Boom Community Bank’s No Interest Loan Schemes (NILS) are funded by local authorities seeking to extend financial assistance to residents. Access to these schemes is exclusive to individuals living within the respective council areas.

A NILS loan can help those unable to access or afford other forms of credit but who can manage small repayments. It offers a fair and flexible way to spread the cost of essential or emergency items and services.

What can NILS be used for?

Loans can help cover:

• White goods (e.g. washing machines, fridges, cookers).

• School uniforms, equipment, or transport.

• Essential furniture or household repairs.

• And more.

Where is NILS available?

Boom currently offers No Interest Loans to eligible residents in:

• Adur & Worthing

• Farnham

• Bognor Regis

Why Boom?

As a local, not-for-profit credit union, Boom Community Bank is committed to supporting financial wellbeing and tackling financial exclusion. The NILS initiative is one of the ways we help people stay on track without falling into unaffordable debt.

To check your eligibility here NILS Options