How Boss asset finance can help

Amidst all the gloom of the Covid-19 crisis, there is a gleam of light for UK businesses in the form of the Government-backed CBILS financial scheme that could give a welcome boost to companies looking to invest in new assets, refinance unencumbered assets or restructure existing agreements to release equity and ease long term cashflow.

The Coronavirus Business Interruption Loan Scheme (CBILS) is designed to offer support to firms needing to access funding in these turbulent times. CBILS offers both Asset Finance and Unsecured Business Loans. In both cases, there is no interest to pay for the first 12 months, and the funder is covered by a Government-backed 80% guarantee to help secure the loan. In addition, there is no requirement for a Directors Guarantee on agreements under £250k.

What this means in effect is that if you are looking to buy new assets, a combination of CBILS Asset Finance and a CBILS Unsecured Loan could release finance to cover the full value of the asset including VAT. With the first 12 months interest being paid by the Government, this means that you could slash your effective finance costs, often at interest rates lower than you are currently achieving.

CBILS also covers finance of pre-owned unencumbered assets and restructuring of existing finance deals.

At present, no one knows how long the CBILS deals will be available, so contact us now if you want to find out more. We will take you through every step of the process, making sure your applications are correct and dealt with quickly in the most efficient, simple and effective way.  

For more information or to start your application, call us on 
03300 948588 or email trevor.jacobs@bossassetfinance.co.uk.

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