The England Illegal Money Lending Team (IMLT) is cracking down on loan sharks across the country and stripping them of their ill-gotten gains under the Proceeds of Crime Act (POCA) legislation.
The Stop Loan Sharks Community Fund is open again for bids from charities, voluntary organisations and community groups involved in activities that have a positive impact on their communities.
The Fund is made up of money seized from convicted loan sharks, which is made available to groups through a bidding process and grants are awarded to successful applicants.
Each group will be able to apply for grants of up to £5,000 and will have to demonstrate the positive impact their project would have on their community. Applicants will also have to demonstrate how their project contributes to delivering the IMLT’s priorities which include raising awareness of the dangers of loan sharks; promoting the work of the IMLT in communities and encourage reporting of loan sharks.