The England Illegal Money Lending Team (IMLT) has funding available for groups that want 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 permissions from the Financial Conduct Authority (FCA). They often give cash loans out without any paperwork and charge extortionate interest rates. When you struggle to make repayments, they may use violence, threats and intimidation, to ensure you keep paying them.
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. We encourage bids from multiple organisations working together who can each bid for £5000 to put towards a collective project.
The aim of this funding is to give groups the opportunity to raise awareness of the issue, in their community in a different way. There are some links you might find useful: Website: www.stoploansharks.co.uk
Closing date 31/08/20