ABL Business Ltd

Helping businesses get access to vital funds

  • Helpline open 9am-5pm on week days
  • We have unrivalled access to over 250+ lenders to get you the best deal
  • Members of the CBI and Regional Council
  • Keeping you updated with the latest government policy and information

Finance that works for your business

We have access to over 250+ lenders to find the best finance solution for your business

Following on from what has already been a difficult and uncertain start to the year what with Brexit and Storm Ciara, the effects of COVID-19 on the UK economy are yet to be seen in full but the constraints are already being felt by UK businesses.

 

As a Commercial Finance Consultancy we work closely with our clients to ensure that they get the right finance facilities that work for their business and this has never been more important than now.

 

We have opened a national helpline for commercial finance questions in relation to Coronavirus and the impact on UK businesses.

We are keeping updated with the lenders, so you don't have to

Because it is our job to understand the Commercial Finance industry and advise businesses accordingly, we will do this on your behalf throughout this pandemic.

We have already identified and understood the premise around CBILS (Coronavirus Business Interruption Loans Scheme) and also what banks are doing to support their clients.

We will be waiting to discuss with you your current situation and provide advice, support and potential signposting to ensure you get the business support you require.

Coronavirus Business Interruption Loan Scheme - CBILS

Key information from the British Business Bank on the new CBILS scheme set up to support businesses:
  • Up to £5m facility: available on repayment terms of up to six years.
  • 80% guarantee: government-backed, partial guarantee (80%).
  • No guarantee fee for SMEs to access the scheme:
  • No fee for smaller businesses. Lenders will pay a fee to access the scheme.
  • Interest and fees paid by Government for 12 months.
  • Finance terms: Finance terms are up to six years for term loans and asset finance facilities. For overdrafts and invoice finance facilities, terms will be up to three years.
  • Security: At the discretion of the lender, the scheme may be used for unsecured lending for facilities of £250,000 and under.
  • For facilities above £250,000, the lender must establish a lack or absence of security prior to businesses using CBILS. If the lender can offer finance on normal commercial terms without the need to make use of the scheme, they will
  • The borrower always remains 100% liable for the debt
Apply for Government back CBILS here or get in touch with us on 0333 003 7685.

KEY INFORMATION FROM THE GOVERNMENT ON CORONAVIRUS SUPPORT FOR SMES

  • The government will increase the Business Rates retail discount to 100% for one year, expand it to the leisure and hospitality sectors, and also increase the planned rates discount for pubs to £5,000.
  • Additional funding will be provided to local authorities to  support small businesses that already pay little or no Business Rates due to the Small Business Rate Relief (SBBR); this will provide a one-off grant of £10,000 to eligible businesses.
  • The British Business Bank will deliver a new and temporary Coronavirus Business Interruption Loan Scheme (CBILS), which will launch in the coming weeks, to help businesses access bank lending and overdrafts. As part of this, the government will provide lenders with a guarantee of 80% on eligible loans of up to £5m in value to increase lender confidence in providing finance to SMEs.
  • Businesses and self-employed people in financial distress, who also have outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service

frequently asked questions

All Businesses can use our helpline. If you need help securing commercial finance for your business we are here for you. 

The COVID-19 Commercial Finance helpline is open Monday – Thursday 9am -5pm and Friday 9am – 3pm

CBILS stands for Coronavirus Business Interruption Loans Scheme. This new scheme which is being operated by the British Business Bank is to support businesses get access to bank lending and overdrafts. The Scheme will support loans of up to £5 million in value. 

We know that a lot of freelancers and self-employed people have been extremely worried during this time about their businesses and what will happen to them if we have to go into lockdown. The government have said that they can now claim Universal Credit. 

https://www.gov.uk/government/news/coronavirus-support-for-employees-benefit-claimants-and-businesses

Get your free asset finance quote now

Fill out the form below, and one of our experts will call you back to discuss the right finance options for your business.

The team at ABL is committed to helping businesses get access to the finance they need to. As a team we are currently working from home but we are still on hand to help you. You can contact any member of the team on:

Andy:07824 391 007

Alex: 07903 769 037

Luke:07415 864 567

Zac:07780 463 354