CBILS EXTENDED UNTIL 31 MARCH
14/10/2020
The Chancellor of the Exchequer and the UK government have now confirmed that the Coronavirus Business Interruption Scheme will be extended to 31 March 2021 but what does this mean and how can it help with your new machine purchase?
The Coronavirus Business Interruption Loan Scheme (CBILS) is a government initiative to help UK small businesses to access finance during these challenging times.
The UK government will guarantee 80% of the total finance, alongside ALL the interest and any other transactional fees of your new machine purchase - with no repayments until March 2022!! The Government will pay the interest during that time and the upfront fee, helping to reduce the overall cost. If you want to settle the loan early, there’s also no fees for full early repayment.
That means, even in this times of financial uncertainty, you can get your machine in your building and earning you money a full 12 months before you have to start making payment installments.
The only requirements of this are that you have turnover of over £200,000, three years trading history and are a UK trader.
Don't fall in this category? We can still help!
Click here to checkout our Confidence Package, which means we can help you with a new machine purchase under our "Buy Now Pay December 2021" promise.
Now really is the best time to get your new machine today from Ward Hi Tech.