£1.1m bank loan provides housing for the homeless in Coventry

A £1.1m loan from Unity Trust Bank, which positions itself as the commercial bank for firms with a social benefit, has enabled social enterprise The Cornerstone Partnership to purchase 17 properties for the homeless in Coventry.

Operated in partnership with The Salvation Army; the properties provide homes integrated in the community for homeless families to begin rebuilding their lives.

The Cornerstone Partnership currently provides 67 properties for homeless families, increasing to 80 by June 2019.

Dean Starr, director and co-founder of The Cornerstone Partnership, said: “From our first meeting with Unity Trust Bank over 18 months ago, it was clear that their passion for helping those in most need in society matched ours.

“Unity Trust Bank has been instrumental in allowing us to serve so many families in desperate need of a home, by providing this much-needed funding. We look forward to building on this relationship with Unity and having an even greater impact on society.”

Nathan Slinn, regional manager for The Salvation Army, said: “We’re called upon to provide hope and support for people when they need it most. Unity Trust Bank, The Cornerstone Partnership and The Salvation Army have come together to make a real difference to those in need – and make the extremely difficult experience of homelessness less painful.”

Unity CEO Margaret Willis said: “We’re committed to having a positive impact on the communities that we serve. Increasingly, organisations like The Cornerstone Partnership are looking for an ethical bank that shares their values.

“There is a shortage of housing generally, but particularly so in inner city areas. I’m pleased that our lending can help to alleviate this issue by providing much-needed homes for the homeless in Coventry.”