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Hertfordshire housing association secures £65m Lloyds lending
A South East social housing provider has secured a £65m funding package from Lloyds Bank Commercial Bank to help deliver plans to build 800 new houses.
B3 Living, established in 2006, provides affordable housing to residents across Hertfordshire and Essex.
The package from Lloyds Bank comprises a £35m revolving credit facility alongside an existing £30m finance facility. B3 Living said it would support its plans to build 800 new properties across the East of England over the next six years.
The funding is part of Lloyds Bank’s pledge to provide or arrange £500m of funding to the social housing sector during 2017 as part of its Helping Britain Prosper commitment.
B3 Living manages more than 4,500 homes and employs 200 staff.
