Glasgow-based Scotcash loans firm given £1m lotto cash

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An organisation that makes loans to people and businesses who struggle to secure credit from banks has been awarded almost £1m in lottery funding.

Glasgow-based Scotcash provides loans from just £50 based on a person's current circumstances and not their credit history.

It will use the £963,685 lottery grant to expand a financial inclusion scheme.

This will allow loans to be made to more people and the expansion of its help and advice outreach service.

'Affordable credit'

Scotcash chief executive Sharon MacPherson said: "This funding will go a long way towards helping our financially excluded citizens access the financial products and services they need to make the most of their money.

"We know that many people in Glasgow pay much more than better off families because they can't access banking, affordable credit or savings.

"This award from the Big Lottery Fund will allow Scotcash to deliver and promote financial inclusion across local areas where these services and products are needed most."

Big Lottery Fund Scotland director Jackie Killeen, said: "We're delighted that with our support this project will extend its reach across Glasgow helping even more people to improve their financial prospects and break the cycle of damaging and expensive short term lending.

"In these tough times for Scotland's communities projects like this help build a better financial future for those most in need."

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