The England Illegal Money Lending Team has funding available for groups that would like to raise awareness of the issues of illegal money lending. The money available has come from the proceeds of crime taken from convicted illegal money lenders. Illegal Money Lenders, more commonly known as Loan Sharks, lend money without having the correct permission from the Financial Conduct Authority. They often give cash loans out without any paper work and want double the amount back or charge extortionate interest rates. When you struggle to make repayments they may use violence, threats and intimidation, to ensure you keep paying them. The aim of this funding is to give groups the opportunity to raise awareness of the issue, in their community in a different way.
Who can apply? Local residents, charities, community and voluntary groups, schools and statutory agencies can submit an application.
How much can you apply for? Up to £5000
What you can spend the money on?
Funds can be spent on any worthwhile community project that meets the following criteria:
- Contributes to raising the awareness of the dangers of using loan sharks
- Prevents crime and disorder and publicises the Stop Loan Sharks message
- Promotes the work of the Illegal Money Lending Team (IMLT) in communities
- Encourages reporting of loan sharks
Please note that the application period is open till 30th June 2019, so please ensure you have your applications submitted by then and please pass on to any of your contacts whom you feel may want to apply.