Coronavirus Business Interruption Loan Scheme Case Study – Asset Refinance

We were delighted to help one of our customers arrange a Coronavirus Business Interruption Loan Scheme (CBILS) backed re-finance of existing assets to help them with cashflow.

We were instructed by a South East based Commercial Laundry business who service the laundry requirements of some of the finest 5* hotels in London and the home counties. Given the ongoing Coronavirus pandemic and the impact it has had on the hospitality and travel industry our client’s business had been severely impacted and they were looking to raise working capital to see them through the next 12 months.

After liaising with the customer about their requirements and the options available to them, we advised that the best option for them would be a CBILS backed asset refinance of their existing unencumbered plant and machinery raising £240,000 of capital over a 5 year term.

Coronavirus Business Interruption Loan Schemes

We took the proposal to our extensive panel of CBILS approved asset-based lenders in order to secure the client with the best terms for their re-finance. Despite another broker being unable to get the client funding, we managed to arrange finance swiftly and easily by matching the client with an appropriate funding provider with an appetite for this type of business.

Has your company taken advantage of all the help available to it like our client above? Did you know that it’s not too late to get a CBILS approved if you act quickly? If your Business has plans for the future which would benefit from financial help, whether it’s Cashflow or an Asset purchase – you have until the CBILS deadline which is the 31st March 2021 to take advantage of the scheme. Once your finance has been approved you have up to 6 months to take up the facility.

There are 3 main ways CBILS arranged via Amplo® Commercial Finance can help your business:

  1. Loan – up to £5m over 2-6 years with the first 12 months interest free
    2. Asset Finance – Purchase new or used equipment and pay no interest for the first 12 months
    3. Refinance – Existing agreements and unencumbered assets can be refinanced on to more favourable terms

If you have any questions about the Coronavirus Business Interruption Loan Scheme, please don’t hesitate to get in touch with our team. Call 01270 443510 or email the team: enquiries@amplocommercialfinance.co.uk.