What are Budgeting Loans?
Budgeting Loans help pay for essential things like rent, furniture, clothes or hire purchase debts. This is known as a ‘Budgeting Loan.’ The smallest amount you can borrow is £100. A full list of what it can assist with is available on the GOV.UK website.
Budgeting Loans are interest-free so you only pay back what you borrow. You normally have to repay the loan within 104 weeks.
Am I eligible?
You can apply for a loan if you’ve been getting one of the following income-related benefits for at least 26 weeks:
- Income Support
- income-based Jobseeker’s Allowance
- Pension Credit
How do I claim?
You will need to send a claim form to your local Jobcentre Plus.