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.
You must be logged in to view premium stories.
Take out a print and online or online only subscription and you will get immediate access to:
To get access to premium content subscribe today
Alternatively REGISTER for a free trial to access up to 4 articles and sign up for email alerts