£5 million loan secured for new development

17/02/2010

Ability has secured a new loan of £5 million from Barclays to finance its current development programme.

The association plans to build or acquire 250 new homes in the South of England over 5 years. This is the second £5m facility and will be used to support the development programme over the next two years.

Donna Marshall, Ability's Finance Director, said "there is a myth that small and specialist housing associations are not attractive to lenders, but because of our exceptional financial strength we had three good offers. We selected Barclays because their offer best matched our requirements".

Ability's development programme includes a mix of wheelchair standard homes for rent and supported living schemes for people with learning disabilities or mental health issues.

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