Payday loan firm for children turns out to be satirist's art stunt

 
Pocket Money Loans: the shop offering payday loans for children in Stroud Green Road, north London (Picture: Darren Cullen)
Alexandra Rucki30 October 2014

People who complained about a payday loan firm for children were taken in by an artist's stunt, it has emerged.

Pocket Money Loans, in Stroud Green Road, Finsbury Park, claimed to offer loans to kids who do not want to save up their pocket money and want to buy new toys right away.

The shop sparked complaints from people who didn't realise it was a satirical art work designed by Darren Cullen.

Mr Cullen set up the fake shop and accompanying website to mimic payday loan firms who he said are “built upon the backs of the poorest, most vulnerable members of society”.

He will be sat behind a counter in the shop for two weeks talking about the quick and cheap loans on offer for kids over three – but at a rate of 5,000 per cent. There is also a trampoline at the counter so children are able to read the small print, balloons and toys which are handed out if users find themselves in debt.

Fast cash: the Pocket Money Loans website (Picture: pocketmoneyloans.com)

His website features posts from children thanking Pocket Money Loans for money to help pay off bullies and gives tips on how to apply for a bouncy castle mortgage.

Mr Cullen said most visitors to his shop have come to check it is not real, but one man did not believe him even when he explained it was fake.

He said: “If someone comes in and they think it is real, I will go along with it it. If they ask if it is a joke I will tell them, I am not powering through pretending it is real."

The artist said the project aims to highlight how the whole payday loan industry targets children.

He added: “Almost all payday loan companies have cartoon mascots, animated characters or sing-along jingles in their adverts to target children and to make adults think they they are using them to be good parents."

“Their high street shops often have play areas full of toys and some of them hand out balloons and sweets to kids at the counter.

“It’s a clear fact they target children, as both a means of persuading their parents, but also as a way to groom the next generation of indebted customers.”

The shop, which is usually home to the Atom Gallery, also features prints satirising cash for gold pawn shops and an advert for Nivea Pro-aging Cream.

It will be open until November 7.

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