BNP Paribas provides £100m social impact loan to L&Q

Recruiting

BNP Paribas has provided a £100m loan to L&Q that offers a discounted interest rate if the housing association hits certain targets to get unemployed residents back into work.

Under the terms of the agreement, L&Q will benefit from an undisclosed discount on the margin of the loan if it succeeds in getting at least 600 unemployed residents back into work in the first year, rising by an additional 25 residents in each subsequent year.

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