SME finance provider Haydock Finance has paid out more than £15m through the government-backed Coronavirus Business Interruption Loan Scheme (CBILS).
As an accredited CBILS partner for asset finance, Haydock has paid out for more than 60 agreements, under their hire purchase and refinance product offerings.
Andy Taylor, sales director at Haydock Finance, reports; “We are pleased that we can support our customers through these challenging times. Our asset finance CBILS products enables businesses to either invest in new assets or to release much needed equity to support their recovery. We have seen a significant increase in CBILS applications and to meet this strong demand we have a further £10million of funding in the pipeline.
“The team at Haydock have also been working hard to stream line our processes to improve the speed and simplicity of applications.”
Haydock has a long-standing relationship with the BBB, having been accredited to provide Enterprise Finance Guarantees before the Covid-19 pandemic.
The Blackburn-based national finance provider was established in 1980 and has an asset finance portfolio in excess of £125m.