THE Big Lottery Fund is to pump nearly £1 million into a scheme providing financial services to poorer communities, to help prevent people falling into the hands of loan sharks and payday loan companies.

The £963,685 grant to Scotcash will allow it to use National Lottery Good Cause funding to expand financial advice and affordable credit services across the north and east of Glasgow.

The firm, a community interest company, opened in 2007 and currently operates from the centre of the city with an outreach service to Springburn.

Its new 'Financial Inclusion in the Community' project is to offer a package of loans and financial advice to customers in some the most deprived parts of Glasgow, providing an alternative to expensive doorstep and high street lenders, along with advice on how to manage their finances.

Scotcash Chief Executive Officer, Sharon MacPherson, said the grant would help financially excluded citizens get access to products and services which would help them make the most of limited incomes.

Funded through the Big Lottery Fund's Investing in Communities programme the project is to be delivered in association with Glasgow Housing Association and Glasgow (Central) Citizen's Advice Bureau.

Jackie Killeen, Big Lottery Fund Scotland Director, said: "The Big Lottery Fund is committed to supporting communities most in need, and this £1 million award to Scotcash does just that."

Scotcash is also working with Glasgow City Council, the Royal Bank of Scotland and Barclays Bank, to help reduce the number of people in the city who lack even basic bank accounts.