Coronavirus Business Interruption Loan Scheme (CBILS)

Coronavirus Business Interruption Loan Scheme, otherwise known as CBILS, is the perfect solution for Hire Purchase, Finance Lease and Sale and HP/Leaseback facilities.

This new Government-backed scheme can provide a range of asset finance products to SME’s across the UK, not only to use in the acquisition of new and used assets, but also in the refinance of suitable and unencumbered existing equipment.

Bridle Asset Finance can offer advances between £50,000 and £250,000, plus we will assess the viability of your business based on the impact that COVID-19 has had on your organisation in the short to medium term.

If you are based and trade in the UK, have an annual turnover of no more than £45m and generate more than 50% of your turnover from trading activity, you may qualify.

It is important to understand that businesses that were in difficulty prior to the COVID-19 outbreak will not qualify.

  • Repayments can be structured to suit your cashflow
  • You can reclaim the VAT
  • Offset HP charges and interest against pre-tax profits and can normally claim capital allowances
  • You can spread the cost over the period that best suits the lifetime of the asset