Starbucks is getting into the loan business, and is now offering its employees 0% interest rates to help them purchase homes
Starbucks recognizes homeownership in the UK is becoming impossible for many, and has decided to help their employees break into the market.
According to Business Insider, the Seattle-based coffee conglomerate is going to lend its staff 0% interest loans to help them put down payments on homes.
Originally reported by the Financial Times, the loans will carry a 12-month amortization, though details about how much Starbucks will lend have yet to be revealed.
The program was established after the company polled its employees about the biggest issues they face.
Housing came in as number one.
"That is no surprise,” Kris Engskov, president of Starbucks in Europe, the Middle East, and Africa, told the FT. “People are working in cities and not being able to afford housing close to where they work."
It is not yet clear whether Starbucks is planning a larger rollout in other countries.
According to Business Insider, the Seattle-based coffee conglomerate is going to lend its staff 0% interest loans to help them put down payments on homes.
Originally reported by the Financial Times, the loans will carry a 12-month amortization, though details about how much Starbucks will lend have yet to be revealed.
The program was established after the company polled its employees about the biggest issues they face.
Housing came in as number one.
"That is no surprise,” Kris Engskov, president of Starbucks in Europe, the Middle East, and Africa, told the FT. “People are working in cities and not being able to afford housing close to where they work."
It is not yet clear whether Starbucks is planning a larger rollout in other countries.
