New refinancing deal unlocks £17M for new homes and investment

We’re delighted to announce we’ve completed a significant refinancing of Elim’s loan portfolio with a new £17m loan and revolving credit facility with Barclays that will fund our ambitious plans to deliver new homes and improve existing homes.

The refinancing agreement will allow Elim to continue supporting its customers through income generated from new development opportunities. Allowing us to deliver new homes for individuals and families and the expansion of our accommodation and community-based support services which reflects our firm commitment to the provision of homelessness prevention services.

Lisa Martin, Group Finance Director, said:
“This is a fantastic move for Elim and its customers. The refinancing program was enacted in part to support Elim’s ambitions over the next 3 years under its current business plan. The ambition is to deliver 105 homes, these will comprise of homes for affordable and social rent and shared ownership properties.

We are delighted to be working with Barclays, who demonstrated a strong understanding of our business, our social purpose and strategic goals.”

As part of our wider future plan’s, Elim will continue to invest in our existing properties, ensuring our customers see best value for money resulting in greener, more efficient homes. To read more about our plans to invest in existing homes, full details can be found here.