Wednesday, September 30, 2020

Lender makes £25m available to Midlands businesses as part of CBILS

Independent business lender White Oak has £25m to lend to businesses in the Midlands as part of the Coronavirus Business Interruption Loan Scheme (CBILS).

CBILS is designed to support the continued provision of finance to UK SMEs during the COVID-19 outbreak. The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.

White Oak offers borrowing from £75,000 to £5 million over either 12 or 24-month. Interest on a CBILS facility is covered by the Government for 12 months and White Oak is offering a payment holiday of up to 12 months.

The scheme closes to new applicants on 30th September.

Andy Davies, Managing Director of Loans & Leases at White Oak, said: “The Midlands is a region with a vibrant SME community and we’re excited to be able to support businesses in the area as they look to recover from the COVID-19 pandemic.

“The CBILS deadline fast approaches and we’re confident that our straightforward lending approach with on-demand local expertise means that SMEs get the support they need when they need it.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

Leicester NHS supplier lands finance facility to meet increased demand

Leicester manufacturer and supplier of healthcare, hospitality and school sportswear clothing and uniforms, Grahame Gardner, has secured a finance facility from HSBC UK. The funding...

Oakham machinery and vehicle dealer secures funding deal for expansion programme

Oakham-based machinery and vehicle dealer, C&M Retail Group, is embarking on a major expansion programme which will create up to 20 new jobs after...

Planning consultant makes 500-mile pledge for mental health awareness

A planning consultant at Harris Lamb has pledged to raise awareness of mental health issues, and funds for charities supporting those battling them, following...

Anoki raises over £6,000 in just a month to provide clean water across Pakistan

Just a month after launching its own charitable initiative to raise funds to dig water wells in Pakistan, Anoki has raised more than £6,400. Anoki,...

Snooper hits the road after In Phase International acquisition

Snooper has been acquired by automotive technology specialist In Phase International, based in Nottingham. Founded in 1979, Snooper specialises in mobile GPS technology for automobile...

Related news

Docuflow appointed to Government G-Cloud 12 Framework

Docuflow has been named as a supplier on the UK Government’s Crown Commercial Service’s (CCS) cloud software framework. It is the second consecutive year Docuflow...

Leicester NHS supplier lands finance facility to meet increased demand

Leicester manufacturer and supplier of healthcare, hospitality and school sportswear clothing and uniforms, Grahame Gardner, has secured a finance facility from HSBC UK. The funding...

Oakham machinery and vehicle dealer secures funding deal for expansion programme

Oakham-based machinery and vehicle dealer, C&M Retail Group, is embarking on a major expansion programme which will create up to 20 new jobs after...

Planning consultant makes 500-mile pledge for mental health awareness

A planning consultant at Harris Lamb has pledged to raise awareness of mental health issues, and funds for charities supporting those battling them, following...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close