During the pandemic, CBILS facilities definitely supported a host of businesses in different sectors. I have just refinanced assets settling off a CBILS asset finance facility. The client was sold couple of key benefits: – No penalty interest if settled up to the 12th month and that British Business Bank paid for the first 12 months of interest, the initial interest rate was somewhat diluted. Through several email exchanges and in fairness to the lender, extra discount was applied to the out standing interest. Within the refinance facility, was the purchase of a used 2018 dumper. The lender I put this to, settled the CBILS facility and paid the dealer direct, two payments from the one HP agreement (great service). The monthly payments met the clients expectations and the process was completed via e-sign documentation ( No PG’s ). Big thank you to my client and big thank you to the lender.
