New giant Sunderland street art mural created in Southwick warning of the dangers of loan sharks during cost of living crisis

The mural, which was commissioned by Together for Children, the Salvation Army and Southwick Altogether Raising Aspirations, shows a cartoon shark counting his money while other sharks circle a distraught individual drowning in debt.

The clear message “Stop Loan Sharks” is accompanied by a contact number for people struggling with their finances to call.

Money for the eye-catching project has been funded by a grant from the Proceeds of Crime Act, which uses money recovered from convicted loan sharks to raise awareness of illegal money lending.

With inflation stubbornly above 10% and the biggest fall in living standards in 70 years, many people have fallen into increasing debt.

A survey by credit management company Lowell found 22% of people claimed the cost of living crisis is having an impact on them accumulating debt.

For those who’ve exhausted official lending channels, but still need to pay their mortgage, escalating energy bills and put food on the table, turning to illegal lenders can sometimes feel like the only option.

However Sunderland City Council’s Executive Director of Health, Housing & Communities, Gerry Taylor, said: said: “Many people are facing financial challenges and borrowing money from an illegal lender may seem tempting but it’s important to remember this can make financial problems much worse.

"These loan sharks charge extortionate interest rates, and may use violence, threats, and intimidation to get their money back. Projects such as this help raise awareness of this issue in local communities and keep residents safe from loan sharks who prey on vulnerable people.”

The mural is located on a wall outside Austin House, home to the Salvation Army and a support centre for local families.

The creation is the work of North East artist Mark Shields, who was only too keen to get involved in such a worthwhile project and worked with local youngsters to bring the design to life.

He said: “I was not aware how much of an issue loan sharks can be in areas which struggle with poverty and low incomes, so I learned a lot myself during the development stage.

"The message behind the piece is mainly to highlight the issue of loan sharks in the area by creating a mural which is located in a place where a lot of community members can see it. The brightly coloured mural is designed to draw attention to the issue whilst also representing the downside of these situations in a visual sense.

“The mural itself shows a person drowning in debts and bills and the loan shark in waiting ready to take advantage of the situation, a very unfortunate situation which many people face when struggling financially.

"Hopefully the mural will alert people and create more awareness around such issues as well as giving them information on where to go for assistance.”

Alongside the mural, money from the grant has also been invested in a new dramatised take on Cinderella which highlights the dangers of loan sharks, and art workshops for children including the creation of anti-loan shark designs which are to be displayed on mugs and cups.