Interest free or low interest loans for low income earners

The ACT Microcredit Loan Program provides low income earners with interest free or low interest loans to help them start or expand an existing business.

Overview

The ACT Microcredit Loan Program provides a limited number of low interest and fee-free loans from Westpac for suitable low-income earners who wish to start or expand an existing business. The program provides loan receivers with business skills growth, one on one mentoring, peer support and access to networking events.

Check if you can apply

No Interest loans

To be eligible for a no interest loan, you must:

• have had a Health Care Card (for a period of at least six months), Pension Card or equivalent
• have a combined family income no higher than $65,000 (including de facto relationship)
• have been an ACT resident for minimum of six months (proof of residency required)
• be setting up a business based in the ACT
• be unable to get finance for your business or business idea from typical financial services

Low Interest loans

To be eligible for a low interest loan, you must:

• have had a Health Care Card (for a period of at least 6 months), Pension Card or equivalent
• have a combined family income no higher than $75,000 (including de facto relationship)
• have been an ACT resident for a minimum of six months (proof of residency required)
• have an existing or semi established business based in the ACT
• be unable to get finance for your business or business idea from typical financial services