Community projects in Lincolnshire can apply for £5k of loan sharks’ confiscated money

Community projects in Lincolnshire are being encouraged to bid for £5,000 in funding confiscated from loan sharks.

The illegal money lending team at Trading Standards, who investigate and prosecute loan sharks, are putting forward multiple pots of £5,000 of proceeds of crime money.

This will be used to help subsidise community projects that assist in raising awareness of loan sharks.

The aim of this funding scheme is to see the illegal earnings loan sharks once made, used wisely, to benefit key areas.

Local residents, charities, community and voluntary groups, schools and statutory agencies in Lincolnshire can apply for the cash.

The money can be spent on any worthwhile community project which does at least one of the following:

  • Contributes to raising the awareness of the dangers of using ‘loan sharks’
  • Promotes professional credit options to people at risk of using ‘loan sharks’
  • Promotes financial management or budgeting to people at risk of using ‘loan sharks’
  • Reduces crime, disorder and illegal money lending in the local area

Groups can apply for up to a maximum of £5,000 per project idea.

The closing date for applications is Friday, September 30.

A panel of judges from the team will vote on which groups will be granted funding to support their community project.

Tony Quigley, Head of Service for the illegal money lending team for The National Trading Standards Board, said: “Illegal money lenders are a scourge on our communities, and can have a huge detrimental impact on the lives of their victims.

“We’re looking to fund community projects in Lincolnshire, as we are able to use this money to fund something positive and help prevent these criminals from operating in the future.”

For more information and to receive an application form, email: Catherine.wohlers@birmingham.gov.uk