Get in touch
TVAF 7 West Mills Yard, Newbury, Berkshire, RG14 5LP
An energy consultancy client of ours recently secured a CBILS loan at an incredible interest rate of 3.37% APR, borrowing £250,000 over a 60 month term. As an ambitious business, our client wanted to secure a cash injection into their business to help them facilitate the plans for growth and expansion.
With nothing to pay for the first 12 months, our client was able to restructure their finances via this low-rate funding, which is significantly lower than a traditional unsecured business loan
Having previously taken out a bounce back loan at the start of the pandemic, our client was obliged to repay this amount, as per the terms of a CBIL. £50,000 of the new larger loan was utilised to repay the bounce back loan with the balance being used to repay an external investor and provide additional working capital for upcoming projects.
This very happy TVAF Asset Finance & Business Loans customer now has low-cost business funding with an affordable monthly payment, coupled with nothing to pay in the first 12 months.
For any business looking to expand or who requires a cash injection, a business loan could be a suitable alternative to a traditional bank overdraft or loan, particularly as a bank may require additional security. The new Recovery Loan Scheme (which has recently been launched and has replaced the CBILs) is an excellent way to secure low-cost funding into your business, particularly if the only other option is for the company directors to invest their own personal funds into the business.
Find out more about the Recovery Loan Scheme and how you can secure low-cost funding for your business.