The current lockdown situation imposed on the UK has led to some incredible measures by our Government in a very short space of time. While their efforts are to be commended, the reality of the situation is potentially leaving some businesses exposed and without the means to meet their financial commitments, because the promised emergency funds are not available in time. Here, we talk about some of the pros and cons of the CBIL Scheme (Coronavirus Business Interruption Loan) and what the alternatives are for the UK’s businesses as they fight to remain afloat during these challenging times.

Despite the brilliant set of packages that the Government has set up to support businesses during the current crisis, there are still a few options available for business owners if the support available isn’t enough or isn’t available quickly enough. The team at Thames Valley Asset Finance has been very busy having conversations with our customers about the hidden assets that they might have in their balance sheet that could make all the difference to the success of your business as we emerge from ‘lockdown’ and prepare for a new normal.

This post was originally written for our Fast Car Finance website, but with so many of our customers in the brilliant position of owning a classic car, we wanted to talk about how you can use it to fund a range of other business or personal projects? If you’ve got a motor car that’s worth a large sum of money, you can use it as security if you need to raise money quickly.

One of our Fast Car Finance customers managed to raise £200,000 for a business deal without him needing to speak to the bank. All within just 10 days! We quickly established that we could use the customer’s £495,000 1960 Aston Martin DB4 as security for the £200,000 loan that he needed for his business deal. The next step was to arrange an independent valuation, which allowed us to work out how much we could arrange the loan for.