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.

Groups interested in providing information to help people avoid loan sharks are invited to apply for up to £5,000, by creating a 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

 

Applications are open until 30 June 2019, and if you require any further information, help or assistance with this form please contact: Catherine.wohlers@birmingham.gov.uk

You can download the following information:

Stop Loan Sharks Community Fund application form – 2019.-2020

Stop Loan Sharks Community Fund – frequently asked questions

In addition, there is a Stop Loan Sharks poster available, to support a campaign that is currently running in Cornwall.

Stop Loan Sharks poster