The Places for People Group has used an innovative bond scheme to raise more than £5m for regeneration and employment projects.
The scheme, run by social investment organisation CityLife, encouraged individuals and organisations to invest money for five years without receiving interest payments. Instead, the interest is put into training and employment projects.

Places for People borrowed the donated money and raised loans against it. It was used to train local people and renovate homes in Sheffield, Newcastle and London. More than £2m was raised for the Newcastle project from donors including software firm Sage and building society Northern Rock. The Newcastle scheme renovated 150 flats and trained local unemployed people in construction.

Source

Housing Today