With more restrictions looming and the uncertainty of what is ahead of us, it is even more poignant that we share some positive news.
Many of our existing customers, like so many other businesses, have struggled due to the constrictions of Covid-19 so it has been a great relief for them and very satisfying for the Credo team that we have been able to help them out.
As well as being able to help them with the likes of payment breaks, CBILs and refinance, many companies have also needed to act fast and seize opportunities and we have been there with the funding to make sure that they can.
Here are some examples of coronavirus crisis success stories highlighting how Credo Asset Finance has been there to help its customers get through this unprecedented crisis and back to business, even if it is not as normal.
- Despite lockdown, one member of our expert team has still struck up a relationship with a farmer and helped deliver the harvest this year with £350,000 of equipment funded in three months.
- Coronavirus Business Interruption Loan Scheme (CBILS) facilities were written to support a local family plant hire firm. This stabilised its cashflow through the initial period of its business activity being significantly reduced. It then saw an opportunity to benefit further from the scheme by investing in a well-priced machine, replacing one that had been hired, and maximised the benefit with 12 months interest free.
- CBILS loan for a local Hotel in Norwich, which helped the business to invest in equipment for local people at his various sites.
- We helped a client with £1.5m of investment in the business, planned before the Covid-19 pandemic, that he decided was still the correct investment for his business. This enabled us to work with a bank partner to fund it all to ensure that delivery was successful. The client is now well placed to continue trading, remain profitable and push forward into 2021.
- In the last two weeks alone CBILS have helped benefit two existing customers to the tune of £250,000 and £120,000. This required a huge amount of assistance from the sales team.
- We funded a brand-new Tesla electric car for a taxi company.
- We also mix business with pleasure, resulting in good news stories that make you smile. We made sure one customer achieved his dream of buying a £68,000 Roller Team Pegaso 740 motorhome. It had looked in doubt because he was not able to go away without the obvious risks. The proposal to be paid out was achieved in less than 48 hours. One happy customer!
These are a few examples of how we have helped our customers these last few months and continue to do so even with the uncertainty that we are living in.
Please get in touch if we can help you! Call 01603 381955 or e-mail [email protected]