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JCB FINANCE LTD – ACCREDITED TO PROVIDE CBILS-BACKED ASSET FINANCE ON JCBs

JCB Finance has been accredited by the British Business Bank to provide the Government Coronavirus Business Interruption Loan Scheme (CBILS) – a scheme, designed to support the continued provision of finance to UK smaller businesses (SMEs) during the COVID-19 outbreak.

JCB Finance new and existing customers, who need to invest in JCBs, machinery or commercial vehicles but have concerns about the impact of Coronavirus on their cash flow, will be able to apply for a CBILS-backed Hire Purchase facility.  The fixed rate facility will have a 6 month payment pause, then 48 monthly instalments with the British Business Bank paying the interest during the first 12 months.

Key features;

  • Available on HP Fixed and HP Plus
  • No capital payments for 6 months
  • No interest payable in the first 12 Months
  • Interest to be charged at 3.99% per annum fixed
  • Interest rate after interest support is 2.39% per annum
  • Up to 53 month term
  • No customer fee to access the scheme
  • No personal guarantees for facilities under £250k.
  • The borrower remains 100% liable for the facility at all times.

 

You can apply if;

  • Your business is based in the UK with turnover of no more than £45m per year
  • Has been negatively impacted by coronavirus
  • Have a borrowing proposal which, were it not for the current pandemic, would be considered viable by JCB Finance
  • Your business generates more than 50% of your turnover from trading activity
  • Your CBILS-backed facility will be used to support primarily trading in the UK

 

You cannot apply if;

  • you operate in one of the following industries; Banking, Building Societies, Insurers and Reinsurers (but not insurance brokers) or the public sector, including state funded primary and secondary schools.

 

Call 0141 556 6521 for details of your local JCB Finance Relationship Manager

 

The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and industrial Strategy (BEIS). British Business Bank plc is wholly owned by HM Government and is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). Full details on CBILS and the list of participating CBILS lenders can be found on the British Business Bank website at: www.british-business-bank.co.uk/CBILS

Scot JCB (Registered in England No: SC51692 Registered office: 400 Townmill Rd, Glasgow, G31 3AR) is authorised and regulated by the Financial Conduct Authority. Scot JCB is a credit broker and JCB Finance Ltd are its preferred supplier of Finance. JCB Finance Ltd (registered in England No: 972265 and whose registered address is: The Mill, High Street, Rocester, Staffs, ST14 5JW) is authorised and regulated by the Financial Conduct Authority (Firm Reference Number: 708332). Finance is restricted to business users only in the United Kingdom, subject to acceptance by JCB Finance Ltd. Subject to availability. Terms apply.

 

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