Starbucks launches Home Sweet Loan rental deposit scheme
Starbucks is seeing the first applicants to benefit from its Home Sweet Loan rental deposit scheme after launching the initiative with Shelter and Generation Rent to its employees last month.
The interest-free loan can be paid back over twelve months and aims to help Starbucks staff, particularly those aged under 25, to tackle the cost of housing.
Lisa Robbins, director of partner resources at Starbucks, said: “Since launching the Home Sweet Loan rental deposit scheme to our partners, we’ve seen a very positive response. Designed to ease the process of moving into a new home, a time when we know finances are stretched, we’re really pleased to have seen our first applicants have been able to benefit from the loan.”
Developed by Shelter as the Tenancy Deposit Loan Scheme, Starbucks was the first private company to launch the scheme in the UK, following the example of government departments and the Co-operative.
Shelter chief executive Campbell Robb added: “As housing costs keep rising, more and more people are struggling to scrape together the deposit needed to rent a home. We hope to see other UK employers follow their example and give renters the helping hand they need.”
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