Stop Loan Sharks……offer of funding for projects to combat them…

Stop Loan Sharks……offer of funding for projects to combat them…

Information from Alison about funding from the Illegal Money Lending Team for projects to combat loan sharks in our community.

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. 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.

Funding that can make a real difference!

We want to actively encourage projects and initiatives that are different from the rest and will leave a legacy in the communities they are delivered in. To make sure you’ve got what it takes, have a look at our 4 main aims below:

  1. Innovative
  • Has this been done before and if so what makes this project different?
  1. Community Engagement
  • Who will this project reach and how many people will be involved?
  1. Impact
  • How will it effect and influence the people reached and how will it change their actions and understanding?
  1. Legacy
  • What will it leave behind and how is it sustainable?

How much can we apply for?
To ensure that a number of projects can be funded you can apply up to a maximum of £5000 per project idea. The closing date for applications is 30th June and the money needs to be spent by the 31st March 2020.Stop Loan Sharks Community Fund – frequently asked questions      Stop Loan Sharks Community Fund application form – 2019.-2020