StepUP Loan Program

What is StepUP?

StepUP is a not-for-profit initiative between Good Shepherd Microfinance and The National Australia Bank (NAB) for people on low incomes who have difficulty accessing mainstream credit. StepUP low interest loans can vary between $800 and $3,000 with a low interest, which can be used for the purchase of personal, household items and second-hand vehicles. Repayments are scheduled at an affordable amount over a three year period 

What StepUP loans are for

  • Second hand cars and once off registration 
  • Car repairs  
  • Essential household goods  
  • White Goods  
  • Furniture
  • Funerals (up to 3 months from date of funeral)
  • Vocational Education 
  • Medical/dental expenses ( up to 3 months from date of procedure) 
  • House maintenance and repairs  
  • Airfares for refugee family reunion (into Australia only)  
  • Computers
  • Musical instruments and gaming consoles ( main item not list of accessories)
  • Storage costs (only for removal of household items from storage, not for ongoing expense or relocation costs) 
  • Veterinary expenses  
  • Driving lessons ( purchase of block of lessons only) 
  • Caravans (for residential use only) 

Loans cannot be used for

  • Debt Consolidation 
  • Bills, fines, rent, bond 
  • Cash
  • Christmas or Birthday presents 
  • Holidays
  • Overseas or interstate travel(for any purpose e.g. weddings,holidays,funeral, visiting family)  
  • Visa application fees  

Eligibility Criteria

  • If you have a Health Care Card, Pension card or qualify for the Family Tax Benifit A
  • Have been in your current premises for more than 3 months 
  • Show a capacity within your budget to repay the loan 
  • Are in recipt of Centerlink benefits 

To Apply for a StepUP loan please call BFFS on (03) 54415277