Asset Finance Information

Access to Funding under the Government CBILS scheme

We are pleased to welcome additional funders onto our CBILS lending panel which enables SME's to borrow up to £250,000 with no capital or interest payments due within the first 12 months. (Interest Paid by the British Business Bank)

At Reality Finance we have spoken to hundreds of customers, providing advice on cost savings, freeing up cash flow, and the often-complicated process of applying for a business loan. We are seeing more and more customers looking for an easy to access loan facility to help them navigate these challenging months.

How will you use your CBILS Loan?

CBILS Loans


We’ve been working hard with our Customers, Vendors, and Suppliers to offer CBILS backed loans and Asset Finance options. Thus far we have provided a number of CBILS backed loans with the following examples:

£250,000 for a well-established manufacturing business over 5 years

£250,000 for an independent fashion retailer over 5 years

£250,000 for a safety systems manufacturer over 5 years and monies received by the client in 3 working days

£150,000 for a café and retail shop funded over 5 years

Typically Lender decisions are agreed within 3 working days.

The Benefits

Borrow from £50,001 to £250,000 over 1 to 5 Year Terms

No upfront or early settlement fees

No Capital or interest payments within the first
12 months (Interest covered by the British Business Bank)

Decisions typically within in 2-3 working days

No personal guarantees required

Competitive interest rates from 1.4%-8.9% APR

 

Typical Lending Criteria

To be UK based in its business activity with an annual turnover of no more than £45m

Applications must be for business purposes only

Businesses must generate more than 50% of its turnover from trading activity

Finance terms are between 12 and 60 months

For the applicant business not to have been in financial difficulty prior to the COVID-19 outbreak

In some cases, a minimum of 3 years of trading history

Why use a Broker?   Why not go straight to the Bank?

Using an accredited Finance Broker will help get you started - Reality Finance will provide you with advice and information to point you towards the right Lender.   We have already successfully provided CBILS for both Loans and Asset Finance to a handful of customers and know what Lenders to approach, depending on your needs.    Reality Finance will do all the hard work for you when applying for either CBILS Loans or Asset Finance,  by approaching our panel of Lenders and coming back with the right set of options for your business.

Ed Barnes

Author

Ed Barnes

Head of Direct Sales



CBILS

Latest posts
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Funding your Covid-Friendly Office

With businesses facing the new “normality” of returning to the office, many are planning how to make their workspace Covid-19 friendly.


2 July, 2020

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Our Lender Panel for CBILS has grown

We’ve been working hard with our Customers, Vendors and Suppliers to offer deferred payments, payment holidays, CBILS backed loans and Asset Finance options.


26 May, 2020

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Neil Whitear discusses the Challenges for Businesses applying for CBILS

What is CBILS and who administers the scheme?


11 May, 2020

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Reality Finance Solutions are now a CBILS Approved Broker for Asset Finance.

Reality Finance is a CBILS Approved Broker for Asset Finance


5 May, 2020