Australia Bank Helping Get Car Loans for Poor

National Australia Bank is making it their business to help those that no one else is helping. They have decided to make auto loans, and other financial services available to that portion of the population that no one else sees fit to assist.

The bank has announced that their micro-finance program, Step Up, is going to be increasing the number of loans that they issue to those that need it the most. Indigenous Australians, the disabled, single parents, and the unemployed will all qualify for help under this program.

They have already provided loans in amounts ranging from $800 to $3,000 – and they aren’t charging the normal fees – in fact they aren’t charging any fees to process the loans. They are also offering a low interest rate of 7.24%.

The loans can be used as car loans, personal loans, or business loans – it is up to the borrower. It just depends on what they need that money for. The company has been around since 2004 and has already extended 704 loans to the disadvantaged. They are planning on hitting a mark of 1000 in 2008 and then after that they will be delivering anywhere between six and seven hundred loans a year.




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