By Ruci Farrell - firstname.lastname@example.org
Pacific families are making good use of a low-interest Government loan scheme introduced last month through Pacific health provider Vaka Tautua.
It's teaming up with the Ministry of Social Development, BNZ and other community partners and will provide fee-free, low-and no-interest loans to people on low incomes in West and South Auckland, as well as in Porirua.
Vaka Tautua chief executive Vui Mark Gosche says the Community Finance Initiative complements the financial literacy programme it runs for its clients.
He says it eases the burden for vulnerable families, who would otherwise borrow from loan sharks charging over the top interest on small loans.
"The loan service and the financial capability work will continue with those people who really are in severe financial strife," he says. "For people who are dealing with disability, people in emergency housing, we all have to borrow at times to buy things like a car or fridge."
"It's really aimed at people who are capable of paying a loan but don't want to pay 20 to 30 per cent interest."
Vui Mark Gosche, Minister for Social Development Carmel Sepuloni and Minister for Pacific Peoples Aupito William Sio at the launch of Community Finance Initiative. Photo/ Supplied.