UK housing association L&Q’s quest to help residents find jobs
gained an added incentive with a £100 million real estate loan from BNP
Under the terms of the loan, the association will benefit from lower borrowing costs if its L&Q Foundation succeeds in getting at least 600 residents back to work in its first year, and 25 more every subsequent year.
As a charitable organisation, L&Q sees its role as going beyond housing to include social interventions to improve opportunities for its social housing residents.
The sustainability-linked loan supports both L&Q in its charitable mission and BNP Paribas’ corporate social responsibility strategy, which seeks to create a positive impact in society, in line with the UN’s Sustainable Development Goals.