Who can take out a loan?
Our loans are available only to those who live or work within the London Boroughs of Havering, Barking & Dagenham or Redbridge. In order to apply for a loan, you need to open a savings account with us and save for an initial qualifying period of approximately three months..
What can I borrow money for?
If you need to borrow money for any reasonable purpose you can apply for a loan from us. This is normally repaid monthly although you can settle the loan in full at any time and without penalty.
Cost of the loan
Interest from 1% per month (APR 12.68%) is charged on the balance of your loan at the end of each month.
![thinking_of_a_loan](https://i0.wp.com/www.lcu.org.uk/wp-content/uploads/2014/03/thinking_of_a_loan.png?resize=319%2C264)