Organisations urged to bid for share of confiscated loan shark cash

Community organisations, charities and groups are being encouraged to apply for grants of up to £5,000 from the England Illegal Money Lending Team (IMLT) for projects to help tackle loan sharks.

The funding comes from money seized from convicted loan sharks under the Proceeds of Crime Act (POCA).

Projects must raise awareness of the dangers of loan sharks, reduce crime and disorder and have a positive impact on communities.

Tony Quigley, head of the England Illegal Money Lending Team said: “We encourage groups to come forward and apply for funding to help stamp out illegal money lenders.

“The money seized through the Proceeds of Crime Act (POCA) is reinvested back into communities through projects aimed at tackling loan sharks and supporting victims.

“We are very much aware of the devastating impact loan sharks have on families and communities and we 're determined to do all we can to eradicate them.

“Our financial investigators have continued to ensure that loan sharks don 't profit from their crimes and are not able to continue to operate during the coronavirus pandemic.

“We urge anyone with information about illegal money lending to contact us in confidence on 0300 555 2222 or access safe and confidential support via Live Chat on our website. ”

The deadline for applications is 30 June 2021.

To apply, visit http://www.stoploansharks.co.uk/poca-funding/