Given the British Business Bank has confirmed that applications for the Coronavirus Business Interruption Loan Scheme (CBILS) will close on 30 September, with a cut-off completion date of 20 October, head of MotoNovo Commercial Finance Luke Curtis is urging dealers to look at how a CBILS asset finance facility could help them before the deadline.
“The state-backed CBILS asset finance options we offer could be available to a large number of dealers,” says Curtis. “CBILS is designed to help businesses that have lost revenue and been disrupted as a result of Covid-19, crucially helping them to survive and thrive as new-normal operating models evolve.”
MotoNovo CBILS asset finance options in a £50,000 to £250,000 range have been used by dealers for commercial vehicle purchase, as well as equipment for workshop, office, IT, security, broadcast and telecoms applications.