Cash confiscated from convicted loan sharks has been awarded to Foundation 92 to help fund a community project which will assist in raising awareness of the dangers of loan sharks.
The England Illegal Money Lending Team (IMLT) – a national team that investigates and prosecutes loan sharks – reopened their national proceeds of crime funding scheme back in May and local charities, schools and organisations were given the opportunity to bid for up to £5,000 of funding as long as its project met the IMLT’s criteria.
Foundation 92’s Positive Pathways programme was successful in its application and will work to deliver a socially distanced early action and intervention project throughout Salford, specifically working with young people aged 16-24 and adults who are currently economically inactive or unemployed.
Staff from the charity’s Education Team will utilise training from IMLT to help provide financial and budgeting support to local residents throughout the Salford community, helping Salford to Thirve.
The funding received from IMLT will enable Foundation 92 to tackle crime, support family financial stability and educate the community on how recognise illegal money lending, and how to lead a financially sustainable lifestyle.
Head of Foundation 92 Tom Hutton said;
“A project around Illegal Money Lending and financial support is vital to residents of Salford who are facing hard time, linked to the Covid-19 pandemic, unemployment and hardship faced due to inequality present throughout Salford.
“Foundation 92 has noticed an increase in money lending due to benefit changes and/or employment circumstances as a direct result of Covid 19 and this funding will enable us to work with young people to create a visible campaign and education project to educate their family members to create financial security and links to financial support.”
The funding will also see Foundation 92 staff work collaboratively alongside Everton in the Community, the charitable arm of Everton Football Club, as the two organisations will join forces to offer an engaging and interactive learning experience for people at risk of Illegal Money Lending, enabling participants to lead financially sustainable lives.
Specialist mentors from both Foundation 92 and Everton in the Community will provide monthly workshops to help the people of Salford and Liverpool 4 develop new skills, create new support networks and gain routes into permanent employment.
Tony Quigley, Head of Service for the England Illegal Money Lending Team added;
“Through this scheme the cash extorted by loan sharks is being put to excellent use. Thanks to everyone who voted or entered a bid- you have contributed to making a difference and tackling this crime in your community.
“Loan sharks are a scourge on society and cause harm and misery to their victims, but we are continuing to tackle them across the country. We would always urge victims of illegal money lenders to seek help by contacting us in confidence on 0300 555 2222”