Starbucks offer staff interest-free loans

Starbucks are launching an interest-free loan scheme for staff, as well as giving approximately 4,500 employees a pay rise. 

The coffee chain has initiated a ‘home sweet loan’ scheme (developed alongside Shelter); which will assist workers in the gathering of funds for a rental deposit. Staff who have been at the company for over a year are eligible for a maximum of one month’s salary, which is paid back over 12 months.

The initiative is the first of its kind for a private company.

George Osborne’s new minimum wage, which comes into effect April 2016, will be matched, irrespective of age. Baristas were previously paid £6.77 an hour.