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Orbit Group secures £40million funding

Orbit Group has secured £40million funding from Handelsbanken, which will help the housing provider to achieve its ambitious 2020 targets.

The five-year funding agreement will support Orbit’s development programme to achieve 12,000 new homes it has committed to by 2020, as well as achieving its other eight targets to provide the best homes and services for its 100,000 customers.

This funding will be key to driving Orbit’s 2020 Vision, which includes significant community investment funding, providing training and capacity building activities to help empowerment and employment, helping customers online, and delivering financial and energy efficiency advice.

Anne Turner, Chief Operating Officer for Orbit Group, said: “This is an important step towards our 2020 goals, as we continue the momentum in reaching our targets. This loan facility will support the building of much-needed affordable homes to tackle the housing shortage.

“We’re delighted to be working with Handelsbanken as there is a great synergy between our ethos. Both organisations are committed to a partnership approach and delivering customer-focussed service.”
Handelsbanken is one of the world’s leading banks, ranked 11th in the Bloomberg assessment. It operates through a decentralised structure with branches fully responsible for all customer relationships.

Paul Belfield, Manager of Coventry Branch, Handelsbanken, said: “We are delighted to be helping Orbit Group towards their 2020 Vision goals. We’re committed to long-term customer relationships and look forward to working closely with the Orbit Group in the years to come.”