A NEW scheme has been launched in north Glasgow to keep residents out of the hands of loan sharks.

Last year, the Big Lottery awarded Glasgow organisation Scotcash a £1million grant to expand its services over the next four years.

It provides affordable credit, financial support and guidance to people who may otherwise not get a loan.

Scotcash has the support of a wide range of organisations including the city council, the Scottish Government and Glasgow Housing Association.

Unlike credit unions, people do not first have to save cash before they can take out a loan with the organisation.

Scotcash opened its first office on the High Street in 2007 and has gone from strength to strength.

This month it extended its services to the north of the city and plans to operate in the south from October next year and in the west by 2016.

Linzi Wilson, Scotcash finance and marketing officer, said: "Alongside credit unions, we work with some of the most vulnerable people in the city who use high cost and pay day lenders or even loan sharks.

"We offer affordable credit and where a loan is not the best option, access to free high quality money advice is offered on site through our partners in the Citizens Advice Bureau.

"In addition to this, we can open basic bank accounts and provide financial education helping improve people's long term financial outlook and start them on the route to becoming financially included."

Scotcash will operate five days a week from housing association offices in the north of the city.

Chief executive Sharon MacPherson said: "Scotcash is committed to supporting individuals and communities most in need and we are delighted that with Big Lottery support we are bringing our services closer to local communities in north Glasgow."