Triodos Bank provides Fife housing association with £5.7m facility
The finance package has enabled the housing association to purchase and develop 13 new properties in Leven, Fife, and will be used to facilitate more developments.
When searching for a lender for its new project, Glen Housing appraoched sustainable lender Triodos.
Anne Dickie, director of GHA, said: “The association’s management team and board members are delighted to have identified a lender that is sympathetic to the non-profit sector. The bank offered a winning combination of competitive rates and community-friendly values, making Triodos our clear choice.”
“And with a focus on affordable housing and improving the lives of its tenants and their local community, Glen Housing perfectly matches Triodos Bank’s values and ethos.”
Triodos Bank relationship manager in Scotland, Graeme Galloway, added: “It was clear from the start how passionate the Glen Housing team is about the identity of the community and its empowerment. We are delighted to be able to finance this project and are looking to finance even more small and rural housing organisations that have the welfare of their tenants and their communities at their core.”
Triodos Bank lends £228m to the social housing sector across the UK, which is 31.5 per cent of their total loan book.
The bank also finances other leading sustainable organisations in Scotland that include The Wasps Trust that provides affordable, quality workspace for visual artists, or the Helmsdale District Development Trust which develops affordable housing in the Highlands.
Triodos Bank’s Scottish office recently moved premises to Frederick Street in the centre of Edinburgh.
GHA projects support various community initiatives focusing on the living environment and are free from vandalism and graffiti. Heavy emphasis is placed on assisting and encouraging tenants to take part in the community and a wildlife garden is maintained by staff with tenant groups including the very young.