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)
  • Musical instruments and gaming consoles ( main item not list of accessories)
  • Storage costs (only for removal of household itemsfrom storage, not forongoing 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

  • Have a Health Care Card/Pension card
  • Have been in your current premises for more than 3 months 
  • Show a capacity within your budget to repay the loan 
  • Qualify for Family Tax Benefit A  

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

    For more information

    If you would like to know more about the StepUP Loan program please fill out the form below and we wiil get back to you as soon as we can thank you.