Co-op funds social housing programme

The Co-operative Bank has agreed a £15m loan to Johnson Housing Trust to fund new developments and maintenance of existing stock over the next three years.

The 4,700-unit trust based in Poynton, Cheshire was formed in 1969 by war veteran Johnnie Johnson and manages an accommodation and care services portfolio worth £105m.

Ian Heesom, senior business development manager at the Co-operative's South Manchester corporate banking centre, said: "All the banks are claiming to be 'open for business' but in reality are reluctant to lend to particular sectors.

"We look at each customer on an individual basis and if the business intends to expand on sound business propositions then even in today's uncertain economic climate, we are genuinely open for business."

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