A budgeting loan is an interest free loan which is available if you need financial help with essential things like rent, furniture or clothes. The smallest amount you can borrow is £100.
Who can apply?
You can apply for a loan if you have been getting income related benefits for 26 weeks. A budgeting loan will not affect other benefits. The success of your application will be dependent on your personal circumstances.
The amount you get will depend on if you:
- Are single
- Have children
- Can pay back the loan
- Have any savings over £1000 (£2000 if you or your partner are over 60)
- Already owe money to the social fund
- You can’t apply if you owe the social fund more than £1500 – this includes budgeting loans and any previous crisis loan
How do I apply?
You will need to complete a SF500 form which are available online at https://www.gov.uk/budgeting-loans Alternatively, you can obtain a SF500 from your local Jobcentre Plus Paying back the loan.
This is an interest-free loan which you normally have to pay back within 104 weeks.
Scotland – Scottish Welfare Fund
In Scotland support is provided by the Scottish Welfare Fund. It is delivered by local councils and provides two types of grant. Crisis Grants – providing you with a safety net in the event of disaster or emergency Community Care Grants – helping you to leave care & live independently, or to continue living independently. Follow the link below for more detailed information.
https://www.gov.scot/policies/social-security/income-related-benefits/
Wales – Discretionary Assistance Fund for Wales
The fund offers payments or in-kind support, to people needing urgent assistance and where there is an identified need to safeguard health and wellbeing. Payments will be made to people who have no other means of meeting the cost of living. They are not intended to meet the cost of ongoing expenses. The scheme provides two types of grant. Emergency assistance payments – assistance in the event of emergency or disaster or when there is an immediate threat to health or wellbeing.
Individual Assistance Payments – enabling or supporting vulnerable people to establish themselves or remain living independently in the community. Follow the link below for more detailed information.
citizensadvice/discretionaryassistancefund/
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