CBILS Development Exit Loan
Has your development been affected by Coronavirus? Do you need a developers exit loan to give you the time to sell your development, as lockdown eases?
What is CBILS? It is a government initiative to help UK small businesses affected by coronavirus access finance. You can access up to £5m and the government guarantees 80% of the loan and pays arrangement fees and interest for the first year.
The Details for the CBILS Development Exit Loan:
Loan Size: You can borrow between £500,001 to £5m.
Term: Up to 2 Years (The first year is covered by the Government).
LTV: Up to 70% of the market value.
Associated Fees: Interest and arrangement fees in the first 12 months are covered by the CBILS scheme.
Interest Rate: A rate of 0.55% per month across all LTV's.
Turnover: You are a UK-based business with annual turnover up to £45m.
Solvency: You have not been classed as a “business in difficulty” on, or before 31st December 2019.
To register your interest, please click here. If you have already enquired about the CBILS Development Loan from our email last week, there is no need to register your interest again.
