Community groups across England are being given the chance to apply for funding to help raise awareness about the dangers of loan sharks.
The funding is being made available from today (September 1st) by the England Illegal Money Lending Team (IMLT) through money seized from convicted loan sharks under the Proceeds of Crime Act (POCA).
Loan sharks can have a devastating impact on communities, preying on vulnerable individuals and trapping them in cycles of debt and financial hardship. The IMLT is offering the funding to organisations that want to help tackle illegal lending and protect residents.
Dave Benbow, head of the IMLT, also known as Stop Loan Sharks, said community involvement was vital in the fight against illegal lending.
βWe love to see all the creative ways local organisations come up with to help in the fight against illegal lending,β he said. βOften, illegal lenders are well known within communities and can appear friendly and approachable, making it difficult for people to recognise that they are victims of a crime. One of the main reasons people donβt come forward sooner is because they donβt realise the person they borrowed from is acting illegally, and many are unaware that support is available through the Stop Loan Sharks team.
βThatβs why projects like these are so important. They help raise awareness, encourage people to seek help and prevent others from being targeted in the future.
βThis funding comes directly from money confiscated from convicted illegal lenders, so it is only right that it is reinvested into communities to expose the harm caused and help protect communities.β
Applications are being welcomed from community groups, schools, credit unions, and other organisations interested in supporting the IMLT.
The grants – of up to Β£5,000 – can be spent on any community project as long as it:
- Contributes to raising 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
POCA funding has already supported various innovative projects raising awareness about the dangers of illegal money lending. Some past initiatives include:
Creation Station workshops: Students from colleges in cities including Liverpool, Birmingham and Manchester took part in workshops with Bauer Media Group to write and record their own radio adverts with strong anti-loan shark messages.
Community art projects: Youngsters at a school in Runcorn collaborated with a digital arts company to create a βroguesβ galleryβ showcasing the different faces of loan sharksβ
Theatre productions: An interactive play, Deep Water, was performed in Worcester, educating audiences about the dangers of illegal lenders.
Murals: A recent project saw a colourful mural with a strong anti-loan shark message created at an adventure playground in Wisbech.
Computer game design: Young people were given the chance to play and edit a loan shark-themed computer game to win Amazon vouchers
School challenges: Young entrepreneurs at a Shropshire primary school turned a small investment of Β£200 into an impressive Β£1,267.51 in just five weeks through a βgrow a poundβ scheme.
Credit Union incentives: Credit unions nationwide have used POCA funding to establish incentive schemes that encourage people to sign up and start saving, helping build their financial resilience.
Music videos: Engaging music videos have been produced, including one with a strong anti-loan shark message and another promoting credit unions as a safe financial alternative.
Applications are open until Friday, October 16. Successful applicants will be notified by October 31. Funded projects should be delivered by September 2027. An application form and more information can be downloaded here: https://www.stoploansharks.co.uk/poca-funding/
The IMLT is a national organisation hosted by Birmingham City Council. It was created in 2004 to investigate and prosecute loan sharks and support borrowers. To find out more, go to stoploansharks.co.uk
