KINGDOM Housing Association has confirmed it has agreed a revolving credit facility agreement with Lloyds Bank during the Covid-19 period after an open tender process run by ATFS.
The facility is for £10 million for a five-year term at ‘competitive rates’ in the current climate.
Nick Pollard, director of finance and digital said, “The facility will enable Kingdom to ensure it is not as exposed to events outside its control when obtaining funding for its housing development programme as it would have been without such a facility. The facility also enables Kingdom to take opportunities as and when they arise in lieu of committed funding being put in place.”
Melanie Russell, relationship director at Lloyds Bank added, “Affordable housing will continue to play a critical role in society on the other side of the current crisis. As such, it’s important that providers are able to invest in upgrading and building new homes while adapting to changing market conditions.”